Last week the Supreme Court ruling preserved the current implementation of the Affordable Care Act, determining that federal marketplaces are eligible for subsidies; thereby helping more people afford insurance. This ruling is expected to greatly impact healthcare collection numbers and strategies in the following ways:
- Approximately 6.4 million people will maintain their subsidies in 34 states, with more expected to enroll in coming weeks, months and years (NY Times). As more individuals enter the healthcare market, providers will be challenged to collect from a growing of individuals, rather than just a few dozen insurance agencies.
- The higher than average deductibles (as with high deductible healthcare plans) that often accompany these healthcare plans also present a unique challenge: educating patients about their financial responsibilities with regard to healthcare billing. At Apex, we encourage a multifaceted approach, combining front desk services, tailored billing statement messages, and multiple payment options to make patient payments easy and convenient.
- Finally, the concreteness of the Court’s ruling marks a new era for healthcare revenue cycle management and healthcare payment processing. After years of lively debate, and much speculation, the Supreme Court has ruled in favor of the Affordable Care Act’s integration into the American healthcare system.