2014: A Healthcare Revolution Begins- Health Minute for January 13, 2014

2014: A Healthcare Revolution Begins- Health Minute for January 13, 2014

Multimedia from this Release

Monday, January 13, 2014 - 6:15pm


CONTENT: Press Release

January 13, 2013 /3BL Media/ - 2014 looks like a year of the biggest changes in U.S. health care since the introduction of Medicare and Medicaid in the 1960s. This month, comprehensive health coverage for millions of uninsured and underinsured Americans begins, through subsidized private insurance or expanded Medicaid.

Across the country, doctors and hospitals are preparing to deal with these millions of newly insured, with all of the requisite records and paperwork. At the same time, they will be facing major regulatory and payment reduction challenges. Insurers will be reviewing claims made through the new Obamacare plans to adjust premiums and trying to absorb cuts in Medicare Advantage payments mandated under the ACA.

Physicians hope that 2014 brings a revision of Medicare’s sustainable growth-rate physician payment formula while hospitals want new legislation to include provisions that extend their payment programs. And for both physicians and hospitals, shifting to the required new ICD-10 coding system on October 1st financial concern.

Providers that do not submit their bills using the new codes can face serious problems collecting payments, and the of this year is a major technological and investment in digitalizing medical records is substantial. Add to these issues the many other, detailed aspects of the Affordable Care Act with practical consequences that remain to be evaluated as they play out, and it’s going to be a business as unusual year in the health care business.

I’m John Howell for 3BL Media.

For more on this and other stories, go to 3blmedia.com

Video Source: 2014: A Healthcare Revolution Begins