Interesting information was just published this week from the Congressional Budget Office which cites what are the believed impacts resulting from the monumental changes occurring in the US healthcare marketplace.
As an organization we are smart enough to stay out of the politics of healthcare and the ensuing heated debates.Â Just like your mother’s dinner table there are a few topics that we purposefully choose not to broach.Â You know… Nascar, Wrestliiing (notice the serious drawn out “iiiiinnnnggg”), Best Fishing spots, and oh yes…Obamacare.Â That being said it is reasonable for all of us in the healthcare complex to be a bit unnerved by the latest data sets.Â For certain, there are positives and negative view points that can be extracted out of the latest data drips from CBO.Â Here are some highlights below.
Highlights of the report included:
- ACA will reduce total number of hours worked [on net] by 1.5-2% from 2017-2024.Â Rationale given is that workers will choose to supply less labor given taxes, incentives and benefits contemplated.
- ACA exchanges will enroll 6 million people by first deadline in March 2014
- By 2020, number of people without coverage will have dropped from 45 million to 30 million persons
- Number of overall workers dropping out of labor force will grow from projected 2 million in 2017 to 2.5 million by 2024.
I know one item that myself and my colleagues spend time talking about around the proverbial water cooler and that we are also discussing with our clients is the impact on the revenue cycle function over the next one to ten years and what steps can be taken now to properly prepare for these changes.Â There are some obvious steps we are all taking now but there are some less obvious, and very strategic steps that leading health systemsÂ are taking now to ensure they are fully prepared as ACA completely rolls out.
What are your thoughts? What items are you or your organization taking to properly prepare?
Helpful & Related Links:
- Washington Post Article
- Congressional Budget Office Website
- Forbes Article on CBO Report (ACA Impact)