Healthcare policy in the United States is constantly evolving, and numerous potential changes have already made headlines in 2017. Students with an interest in pursuing administrative roles should pay special attention to these modifications, as they may have a substantial impact on your future working with healthcare organizations and providers.
Take note of these five healthcare policy changes on the horizon:
Advanced Technology and Artificial Intelligence
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Students pursuing a executive master's in healthcare administration online should consider paying special attention to the ways that artificial intelligence and other advanced technology could change healthcare policy. As Health IT Outcomes explains, many healthcare systems have already begun to experiment with technology-focused methods for adding more patients to their rosters while also lowering costs.
While independent physicians were once commonplace, many now work for larger healthcare systems. These expansive systems are increasingly finding that helping physicians streamline their practices can decrease the rate and cost of malpractice while improving overall efficiency.
In fact, Tom Price, the Secretary of Health and Human Services, is actively considering implementing policies that would require healthcare providers to make use of artificial intelligence that reduces both physician and medical error as well as imposes strict testing standards on physicians. Doing so would likely improve patient outcomes while also limiting the extent to which physicians are subject to malpractice suits and related litigation.
Regardless of the outcome of this policy initiative, healthcare administrators should understand the impact that malpractice suits can have as well as the ways that the government can interact with the relationship between physicians and patients.
Slower Healthcare Job Growth
In addition to lowering the uninsured rate across the nation, one of the most beneficial effects of the ACA has been its large-scale job creation. According to HealthcareDive, since its inception, the ACA has created nearly a quarter of a million jobs in the healthcare industry. This is no small feat, and job creation has not yet slowed down.
However, the passage of the AHCA could substantially slow healthcare job growth, even reversing some of the industry's recent gains. With tens of millions of patients potentially losing their coverage under the AHCA, the healthcare industry would almost certainly experience a significant decrease in demand. Already, uncertainty surrounding the passage of the act may have led to a minor slowdown, though it has not yet led to a reversal. Aspiring healthcare administrators should monitor these industry trends closely, as they could substantially impact facilities' services, budgets, and hiring decisions.
Medicaid Expansion
In recent months, many news headlines have highlighted the role of Medicaid in providing affordable care and explored what may happen to this program in 2017 and beyond. While many states have already expanded Medicaid coverage to residents in need, others are still considering the possibilities, which could have wide-ranging effects.
As Fierce Healthcare explains, the states that have already expanded Medicaid coverage provide invaluable data that others can reference. For instance, several states with expanded coverage experienced more than a 10-percent drop in uninsured rates, drastically increasing the number of residents with at least basic healthcare coverage.
Moving forward, the remaining states may also opt to expand standard Medicaid coverage, or they may choose to pioneer innovative healthcare applications. Under the ACA, the Secretary of Health and Human Services has authority to grant what are known as Section 1115 waivers, which involve experimental programs related to Medicaid administration. With potential aspects such as work requirements for beneficiaries, Medicaid expansion could drastically change access to healthcare and mental healthcare.
Greater Focus on Value-Based Care
While it is still difficult to assess whether large-scale changes to Medicaid and Medicare will take effect in the near future, one thing is for certain. In order to prepare for any number of outcomes, healthcare insurance providers and public health systems of all kinds must shift their focus toward improved cost management. Doing so is likely to help them achieve better financial outlooks while simultaneously improving the quality of care they offer to patients.
As MapR explains, one of the most effective ways to improve cost management may be switching from fee-based care to value-based care. This type of structure would incentivize providers to improve patient outcomes instead of simply receiving compensation for the number of treatments they complete.
A switch of this magnitude will likely increase the industry's reliance on analytics and big data. Healthcare providers and insurers will have to collect more information from patients, track outcomes in a streamlined manner, and share data among partners. This effectively places digital technology and tools in the healthcare industry's spotlight.
Fewer Provider Choices and Smaller Networks
With many of the main principles of the ACA at risk of elimination, most insurance providers are actively seeking ways to balance their policy options with their expected patient pools. Under the ACA, individuals are required to have at least basic health insurance coverage, which makes it affordable and even desirable for many providers to participate in the Healthcare Marketplace. If the AHCA passes, however, states may have the power to eliminate the individual mandate and permit patients to purchase pared-down policies or even forgo coverage altogether.
As PivotHealth explains, some insurance companies have already begun to limit the types of plans they offer in the Healthare Marketplace and restrict the number of providers who participate in these programs. To balance their budgets, some providers may withdraw from Healthcare Marketplace participation altogether, while others may continue to offer only limited policies with small provider networks. Although taking these steps may help insurance providers stay afloat, it may also limit the type and quality of care that patients can access, which could have long-term effects on many states' populations.
Predicting every possible change to healthcare policy may never be possible, but those who aim to work in the healthcare industry should do their best to anticipate and plan for policy updates. If you are an aspiring healthcare leader, consider working toward your Executive Master of Health Administration online degree. With an advanced degree, you can grow the knowledge, experience, and insight necessary to make a difference in the world of healthcare.
Sources:
https://www.healthitoutcomes.com/doc/will-robots-redesign-healthcare-policy-0001
http://www.healthcaredive.com/news/healthcare-added-14000-new-jobs-last-month/440093/
http://www.healthcareitnews.com/news/5-focuses-healthcare-c-suite-under-trump
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/managinghealthcarecosts.aspx