The health care reform provisions that are scheduled to start at the beginning of 2014 are going to affect the whole country and almost every industry, but none more so than healthcare itself. Many medical professions will be influenced in some way by the upcoming provisions in the Patient Protection and Affordable Care Act (PPACA). One medical industry in particular, medical billing and coding, is going to see many changes. Fortunately, many of the changes are positive.
Improved Medical Reimbursement
One change is an increase in reimbursement from Medicaid. Physicians that normally might be reluctant to see Medicaid patients due to meager reimbursements will be more willing if they know the payoff will be better. The billing and coding industries that serve them will benefit as well from increased physician revenue.
Increased Primary Care Physicians
Under the PPACA, training programs for primary care doctors and nurses will be better funded. These new primary care professionals will require the services and support of Billing and Coding specialists, which will give a boost to the industry.
Fraud and Abuse Measures
The PPACA has already and will continue to use additional funding to combat fraud and abuse. Medical billing and coding businesses welcome changes that expose those doing the industry harm. While new regulations possibly mean more bureaucracy and paperwork, most industry professionals think it will be a positive change.
If the PPACA delivers on its promises and improves health care, Medical Billing and Coding companies have a lot to gain. Although it is hard to say how exactly the reforms will affect the future of this industry, we can say for sure that the companies who work with the changes instead of fighting against them will come out on top.
If your medical billing company experiences growth due to health care reform and you need additional funding, medical billing factoring services can help.