The passage of the Patient Protection and Affordable Care Act (ACA) means big changes for employers, physicians, businesses, the uninsured, and just about everyone. The law requires that almost all Americans take out health insurance, so physicians can expect an increase in demand for health care. However, the expanded coverage has a range of other implications for medical practices (click here for more information).
Under the ACA small businesses and individuals can access health insurance by way of state run ‘insurance exchanges.’ Specifically, the American Health Benefit Exchanges, and the Small Business Health Options Program Exchanges. These are established to enable individuals and small businesses access health insurance at competitive rates.
The ACA has created a new health care environment for medical practices. Physicians will have to get used to:
- The increased demand for physicians to meet the influx of newly insured. More Americans will have health coverage, as individuals that were previously uninsured can be covered under the subsidized insurance exchanges.
- New players like the insurance exchanges. That means new rules and paperwork, and changes in how care is reimbursed. Physicians will therefore have to get acquainted with the changing protocols, especially as it relates to provider contracts.
- Changes in the performance based incentives. Doctors that are able to provide evidence of quality outcomes can benefit from new incentives, and revenue.
With all these changes, medical practitioners need expert legal advice to interpret the impact on their medical practice, so that they can respond to the challenges. At Nelson Hardiman, Los Angeles, CA, we are fully aware of the latest developments with the Health Reform Act in California and the rest of the country. Give us a call at 310-203-2800, so that we can help you prepare for the changes to come.