The Affordable Care Act is a massive piece of legislation that hopes to reform the healthcare and health insurance industries. This Act has proven to be a headache for many healthcare professionals and Boca Raton affordable health care act lawyer. Some of the major effects the Affordable Care Act has had (or will have) on healthcare professionals include:
- Insurance Company Restrictions. The Act prohibits insurance companies from rescinding coverage.
- Increase Medicaid Reimbursements. State Medicaid programs will have to reimburse 100% of Medicare payment rates to primary care doctors. Previously, only about 60% of Medicare rates were reimbursed.
- Provide incentives for doctors to form “Accountable Care Organizations.” This will allow doctors to more efficiently and better coordinate patient care and reduce expenses.
- Bundle Payments. Bundled payments will allow a more streamlined system to pay hospitals. Instead of reimbursing or paying based on each individual service like consultation, surgery, and rehabilitation, hospitals will receive a lump sum for all the associated services provided. Hospitals will then distribute the money to individual physicians and service care providers.
- Focus on Quality of Care. Physicians’ pay will be based on the quality of their care, as opposed to the sheer volume of patients that they see.
- Give Doctors More Control. Previously, insurance companies have had too much control and one of the main purposes of the Affordable Care Act is to return control to the doctors.
- Establishing Affordable Insurance Exchanges. The Affordable Care Act will create exchanges where individuals can shop for insurance coverage in a more transparent and competitive environment. The exchanges will also protect consumers such as those with pre-existing conditions who may be denied benefits.
- Removing Caps and Limits. Some insurance companies cap the amount of payments they pay out. So if a particularly sick individual hits the cap, he may be out of insurance. The Affordable Care Act will stop insurance companies from enforcing such caps and limits.
Contact Webb Millsaps at the Health Law Firm of Florida
Not all of the above provisions have gone into effect yet. Some will go into effect over the course of the next few years. If you have a question regarding how the Affordable Care Act affects your business, you may want to consult with a Boca Raton affordable health care act lawyer. Contact Webb Millsaps at the Health Law Firm of Florida at (561) 900-7238 today.