OBAMACARE 2014: A mixture of Blessings and Curse
Universal access to healthcare is a major goal of the Affordable Care Act. This inevitably means increasing the number of Health care consumers by up to 47 million new souls. This sizeable increase will have a significant impact on Health care providers. For them, it will be a mixture of blessings and curse. We will explore the Blessings and the Curse in this series.
The single issue about which most would agree about the ACA is that:
THE NUMBER OF HEALTH CARE CONSUMERS WOULD INCREASE BY UP TO 47 MILLION.
This, for the HealthCare Provider represents the following:
BLESSING: Increase in the number of patients with possibility of increase income
CURSE: Increased number of low paying patients. Less time to spend per patient
BLESSING: Opportunity for Concierge Practices. Faced with the likely dissatisfaction from the increased wait times to see doctors, more patients will opt for Concierge practices.
CURSE: There will be fewer available practices outside of concierge practices.
BLESSING: A large segment of the new 47 million patients with access will be young INTERNET SAVVY individuals. They will have few chronic medical conditions. However, they will now be more health conscious and actively address issues with Dentists, Chiropractors, Plastic Surgeons, Skin Doctors, Eye doctors etc.
CURSE: The internet savvy segment will demand more from their healthcare providers