Under a Trump presidency, no one knows exactly what changes to regulation are heading our way. However, with healthcare reform being a top priority, we do have a few predictions for what lies ahead under this administration and how these changes could impact physicians.
Obamacare will undergo significant changes and we won’t be surprised if other downstream programs, such as MACRA, Meaningful Use, PQRS, are also impacted. At the same time, private insurers are likely to continue and enhance many of their quality initiatives. With change being a certainty, it’s important to partner with a medical billing service that understands the complexity of these programs, the data they seek to collect and analyze, and how to ensure that every medical charge is submitted properly.
The sale of health insurance by the private market to be allowed over state lines. This approach will provide better, more competitive options for patients. It will also greatly expand the number of companies to which you presently submit charges, many outside of your state lines. This change will create a new payment dynamic previously not experienced by today’s providers.
Block funding to hospitals and health systems will be reduced. Our crystal ball tells us that reliance on government programs can no longer sustain the healthcare market. We expect hospital corporations to engage in extensive cost-cutting. The biggest expense in healthcare is people. We anticipate that hospitals and health systems will ultimately threaten to reduce higher compensation relationships with providers. We expect these providers to set forth on the entrepreneurs’ path.
Life is a pendulum. At times there is more centralization, at times there is less. In 2008-10, the pendulum definitely swung in the direction of medical corps over small business. The entrepreneur physician went from 39% of all providers to 19% in 2016. Given today’s realities, we expect the pendulum to swing back to those willing to take control of their own future.
Regardless of the changes ahead, we want doctor to be doctors, not administrative clerks. When a doctor is focused on great medical care; it is a win for all involved. When the provider is trying to pass a test by checking the right box, we do not think this leads to great medical experiences for either the patient or the provider.
Please contact us today, if you’d like to learn how Clinic Service can maximize your profitability while you can stay focused on medical care for your patients.