Soon after making adjustments related to the enactment of the Affordable Care Act, healthcare providers may have to go through a similar process. Although the future of the repeal and replace plan for Obamacare is uncertain to say the least, the actions taken by some politicians indicate a substantial level of support for major changes.
Whether a new plan is eventually submitted and Obamacare is repealed or the existing laws are altered, there's a strong possibility that providers will have to deal with a host of regulatory changes. Additionally, there could be a significant dip in the number of insured Americans.
Millions of Americans Could Lose Coverage
According to statistics from the Congressional Budget Office and the executive branch's Office of Management and Budget gathered by Politico, proposed changes to the ACA could eliminate coverage for between 24 and 26 million Americans. Those projections are based on a repeal and replace plan, with a new approach to healthcare eventually put into place. If a strategy is used to change the structure of Obamacare, or a different proposed bill ends up being put into law, the number of affected citizens could change.
Even if the projected numbers are reduced by 50-75 percent, the impact on healthcare providers could still be significant. Depending on the demographics of the patient base a facility cares for, the possible changes in policy could differentiate how many patients are insured. Even for facilities where most patients don't use ACA-provided coverage, properly dealing with any newly uninsured patients has to be considered.
"Providing enough tools allows your patients to pay stress free."
How Your Healthcare Facility Can Adapt and Succeed
Working with patients who don't have insurance can be especially difficult, as providers try to balance providing care with the need to be compensated for their work and avoid debt. It doesn't have to be impossible, however. Giving patients the tools to pay their bills and manage financial responsibility can go a long way toward making this complicated process more straightforward. It also ensures your facility isn't threatened by a growing accounts receivable.
Which aspects of patient payment solutions can help? All of them. Using online self-service payments as a tool to collect more revenue in general. Statistics from our own clients show about 44 percent of online payments arrive outside of regular business hours, and nearly a third of all patient payments are obtained online by facilities that use this tool.
Making it easier for patients to pay can help smooth over issues with insurance. Pre-authorized patient payment plans give patients more time to pay while making sure your facility receives the entire amount it's owed. By giving patients more time to pay while ensuring payment details are accurate and automatically processing those transactions, your facility strikes an effective balance between its needs and those of the patient.