SOURCE: PricewaterhouseCoopers LLP
Supreme Court Decision to Uphold Healthcare Law Means "Game On" for Health Industry: Crunch Time for Those Who Waited, Says PwC
"Despite the political uncertainty, private-sector initiatives, accentuated and accelerated by the health reform law, are moving forward," said Kelly Barnes, Leader of PwC's U.S. Health Industries Practice. "The pressure for innovative ways to provide higher-quality, more affordable healthcare continues. Healthcare organizations that have been sitting on the sidelines will now have to get in the game and play catch-up."
Leading health sector participants have been devising new ways to conduct business and move ahead of the competition in the face of impending deadlines under the Affordable Care Act. Among the provisions that are scheduled to take effect soon are new reporting and disclosure obligations for employers, benefit design changes for certain health plans, penalties for hospitals that have unnecessarily high readmissions, and a requirement that insurers devote 80-85 percent of their premiums to medical care or refund the difference. In addition, participants will need to accelerate efforts to be competitive for federal funding that will be available for innovation, health insurance exchanges, new quality measures and other provisions of the law.