The Patient Protection and Affordable Care Act (PPACA) has been met with both anxiety and relief in the medical community. Opinions about the legislation differ greatly. While pieces of the law have raised concerns, the bottom line is that the Affordable Care Act seeks to put more control in the hands of patients and doctors, lessening the power of insurance companies. Consider the following top three benefits to your medical practice management:
1. Cost savings. Medical practices frequently have to absorb the costs incurred from treating uninsured patients. The Affordable Care Act will guarantee that 32 million uninsured Americans will now have access to health coverage. Lowering the percentage of uncompensated health services will bring much needed relief to the entire health care system. Additionally, physicians should see a decrease in administrative costs through a simplified process and the implementation of electronic health records (EHR/EMR). Lastly, infrastructure is in place for physicians to actually earn bonuses from Medicare, especially those practicing in under-served areas.
2. Increased quality of care. Health care reform arguments frequently focus on patients. However, the consumer protections under the new legislation benefit doctors too, allowing you to focus more on providing the best patient care. Insurance companies can no longer cancel coverage because of application errors, pre-existing conditions or benefits caps. You can focus on the best treatment for your patient instead of having to figure out what treatment will cost less. Additionally, your Medicare patients will receive stronger benefits, empowering you to focus on the most beneficial care. Lastly, the legislation calls for investing in advanced care facilities, allowing you to more efficiently provide seamless care to patients that require disease management and other advanced treatments.
3. More control. The legislation promotes coordinated care that empowers health care providers to recommend improvements. Structure is in place to reward physicians who provide excellent care, an evaluation based on medical research and input from physicians like you. Secondly, expanded preventative care services empower physicians to focus on helping patients maintain healthy lifestyles instead of worrying about patients without preventative coverage.
Health care reform debates are not likely to subside any time soon. We applaud your medical practices for working hard to implement new aspects of the legislation. Keeping up with change and with your growing medical practice can be overwhelming at times. Call or email us for support and assistance with your medical practice management needs.