It feels like healthcare reform has been batted around and debated forever at this point, and medical insurance providers have always been really vocal about how bad Obamacare was going to be for everyone, especially them.
So, I found it really interesting that 18 months into it, Bloomberg Government reported that the insurance providers have made more profit since Obamacare went into effect than in the 18 months prior!
Here’s a detailed article from FierceHealthPayer newsletter called, Insurers Profit From Health Reform.
This quote really says it all:
“The average operating profit margins for the five largest insurers expanded to 8.24 percent in the six quarters since reform, compared to 6.88 percent for the 18 months before the reform law passed, reports Bloomberg.”
And it doesn’t stop there. Check out this eye-opener:
“The insurers stand to reap even more benefits as they position themselves to gain from Medicaid’s expansion in 2014.”
After reading it, I had one big question in my mind:
They’re getting theirs. Are you getting yours?
In other words, whether you’re an independent practitioner, a cooperative practice, or a large hospital, Obamacare has had a huge impact on how you do business. For some, it’s been a total paradigm shift, and a lot of my clients are still working on picking up the pieces.
But the insurance companies are making more money than before. Are you?
You’re not going to find a better time to review your current billing procedures, accounts receivable collections and records management. Then, figure out where you’re leaving money on the table. Obamacare has probably removed some or all of your wiggle-room.
But someone’s making a profit. Are you?
I’d love to know what you’ve been able to do to keep profits up in the last 18 months. Anything outside the box? Let me know in the comments!