As the GOP attempts to follow through on Trump’s promises to end the Affordable Care Act, they are running into trouble getting Congress to agree on a plan that could wholly replace the ACA. In the past, Republicans have sought to completely repeal the act and replace it with something that their constituents and platform would prefer, but it seems that not enough Senators can agree on a single plan to completely replace the legacy of the previous administration.
As of Thursday, October 28, senators will be meeting to vote instead on a host of amendments to the act in what is being referred to as a “skinny repeal”; the GOP hoping that amendments they manage to score a majority vote on from the Senate will allow them to significantly change the ACA without having to go through the same arduous process as repealing it wholesale and instituting an entirely new healthcare plan for the United States.
However, the question stands: what does this mean for you? What does this mean for those who are in the business of providing healthcare, and what does this mean for those who are seeking healthcare (your potential customers and perhaps even you)? Bottom line: things may be about to become a little more uncertain and maybe a lot more expensive for the healthcare providers of America.
With what Republicans hope to get passed, the end result is that a lot more people could be newly uninsured by a healthcare insurance provider, either by choice or because they can no longer afford it. What that means for you as a healthcare provider is that although you will likely not have as many clients using insurance providers other than Medicaid. While Medicaid faces no drops in coverage, keep in mind that for many insurance providers Medicaid can be a very slow form of getting the payment you’re owed for your services. While healthcare factoring proudly offered by Xynergy Healthcare Capital and other firms can certainly make the best of this situation, it can still be a hard pill to swallow.
Looking on the positive side of things, if insurance is no longer mandatory through fines to those who are uninsured, theoretically more of your clients should be able to pay for your services upfront. Instead of using medical insurance, many of the proponents of repealing or amending the Affordable Care Act support the claim that they would rather save the money for the unlikely health problems they may face rather than purchasing insurance they see as unnecessary. Optimistically, that means that healthcare providers across America are hopefully going to see more patients paying upfront than waiting on insurance to pick up the tab. However, this may not be the case.
A consequence of this proposed amendment process is that health care premiums will likely rise. Unfortunately, rather than having “prepared” clients to pay upfront you will likely have an influx of people unable to pay their bills for your service. It may become easier to avoid the wait for insurance payments, but beware: it may be harder to get any payments at all.
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