When US President Barack Obama signed the law of Patient Protection and Affordable Care Act, it was a massive step in modern medical billing services in the USA. At that time, around 50 million Americans didn’t have health insurance according to Statista. Moreover, family health coverage cost increased up to 130% which was impossible to pay for most families. Therefore, it was essential to have a healthcare plan that would efficiently cover the health care needs of everyone along with the Quality Payment Program.
How is P3Care Compliant with the Affordable Care Act (ACA)?
This law has changed rules for expansion and regulation of Medicare and Medicaid insurance coverage. It affected individual insurance policies by adding some new taxes and cutting some previous ones. P3Care adapts to the changing times in the US healthcare industry. We make sure that our services are compliant with the latest tactics and we facilitate healthcare businesses in reaching their business goals.
Statista states that the U.S spends twice as much capital on healthcare services as compared to other developed countries. But still, it allowed insurers to refuse any person’s insurance having a pre-existing medical condition. This act is also known as; Obamacare. P3Care has adapted its billing services per this act to solve some problematic areas in the medical billing process and provide the following advantages to healthcare business:
- Facilitate healthcare businesses to provide affordable and high-quality health care services to patients
- Helps healthcare industry reduce healthcare expenditure in the U.S healthcare services
- Protect consumer data and provide a secure network for information sharing
- Helps in insurance exchanges
These advantages help healthcare service providers in improving their service quality by:
- Uncompensated cost of rendered services
- Readmission charges
- Better hospital conditions
This act is now a significant part of P3Care medical billing and coding services. It has significantly changed ways through which accurate medical claims are submitted to insurance companies and payers. Let’s see how it impacted P3Care’s medical billing process.
Enables Expansion of Medical Billing Services
ACA has allowed insurance companies to insure those patients as well the ones who have pre-existing medical conditions. More patients are registered with insurance companies since then, and this number is increasing day by day. As more people are eligible for receiving health care services, more services would be required for accurate medical billing and coding.
Our medical billing software is capable of handling a significant amount of essential data. Our system efficiently manages several patients’ profiles at the same time. The database is secure, and files are easily transferred via our medical billing system.
Convert Documents into Electronic Healthcare Records (EHRs)
This act has applied some strict rules under the Physician Quality Reporting System (PQRS) for reimbursements of Medicare. It restricts medical billing services to translate patients’ medical history and all the necessary information such as; healthcare provider, coverage plan into the electronic healthcare records (EHRs). It means that it is mandatory for medical billing services to adapt to EHRs for accurate claim submission to Medicare.
We at P3Care manage all the healthcare services via electronic health records. Our UI and UX experts make sure to develop user-friendly interfaces for EHRs so that service providers can easily input or access data in it and maintain patients’ medical history as well.
Provide Healthcare Services towards Under-Privileged Areas and Get More Reimbursements
Affordable Care Act provides incentives or more reimbursements to health care providers who serve patients in remote areas. It is indeed a great chance for them to gain more reimbursements for the rendered services in underprivileged areas or rural areas where generally doctors don’t like to serve and proper healthcare facilities are difficult to provide.
We follow proper standards to facilitate healthcare businesses to create and submit medical bills with accuracy to properly reimburse them.
Changes in Reimbursement Procedure
Before this act, reimbursements were given directly to the receiving party such as labs, and physicians. But, with ACA advancement in medical billing, reimbursements will be given as bundled payments. It means that each party in the healthcare unit will receive payment from the associated party rather than the Medicare.
Our medical billing agency creates medical claims following this act. Our professionals use their expertise to submit claims so that all of the healthcare team gets paid for their services individually and adequately.
ACA is a revolutionary step in the USA healthcare system. It ensures that every American cost-effectively gets reasonable healthcare facilities and accordingly healthcare providers are appropriately reimbursed for the healthcare services they provide. P3Care – a renowned medical billing service in the USA follows every standard and rule and offers efficient medical billing services with cost-effective methods for healthcare units.