- Download PDF
1 Answer | Add Yours
There are many factors in the healthcare industry that are leading to a high degree of unpredictability. The biggest unknown variable currently affecting the industry is the full implementation of the Affordable Care Act, often referred to as Obamacare. Upcoming changes in healthcare include how many new people will now be on the insurance system, how many healthcare professionals will be actively working in the future, and what will the cost of this new health insurance paradigm be for individuals and businesses. Many of these factors are closely related, such as lower reimbursement rates for doctors leading to more older doctors retiring early, or businesses worried about rising costs not hiring employees.
The biggest strategy to help iron out the unpredictability here is some level of certainty from any of the parties involved. Right now, the federal government is basically shut down over the Obamacare issue. How much confidence and predictability does that instill in the nation? If the government would come together to support the industry legislation, that would be a start. Most businesses are simply worried about how the legislation is going to affect their bottom lines (in other words, how much it is going to cost them). So if the insurance companies would come out with their new plans and prices and the government would set the amount of subsidies that various people will get, this would help people and businesses to make longer term financial plans.
The bottom line is this; Obamacare has been legally passed as a law and upheld by the Supreme Court. Once everybody accepts that the new law is here to stay and stops belatedly fighting it, then all of the involved parties can start making future plans. Once that happens, then we can start the process of eliminating the rhetoric and alleviating the uncertainty.
We’ve answered 324,382 questions. We can answer yours, too.Ask a question