5 Medical Practices Most Affected by Obamacare
No group of American professionals will be impacted in a negative manner by the Patient Protection and Affordable Care Act, otherwise known as Obamacare, more than physicians.
More government regulation and oversight will be thrust upon practicing physicians who have become increasingly dependent on government reimbursement for the medical services they provide. Some studies have shown that over 60% of physicians, currently in an active medical practice, will be considering early retirement due to the anticipated changes they will be subject to because of Obamacare.
Who will be affected by Obamacare?
1 – Family Practice Physicians
The family practice physician of today is typically based in a private practice office setting. Other than making daily rounds to access his/her patients, there is minimal interaction with a medical facility. Any billing of medical service is done based on the patient’s visit to the family practice physician’s office. This medical care is reimbursed at a lower rate than if the patient had been examined in the hospital.
2 – Internal Medicine Physicians
For the same reason as the family practice physician, the reimbursement of this office-based specialty will see a reduced rate of return for their services. Internal medicine physicians do, however, have a larger number of clinical procedures they are trained to do. Those clinical procedures are billed at a higher rate than a typical office visit and as such will provide some moderate protection to the Internal Medicine doctors’ fiscal hit.
3 – Physiotherapy
Doctors specializing in physiotherapy will also see diminished reimbursement for their services. These physicians typically practice in a setting that is part office and part rehabilitation facility. Though the addition of services provided in a rehabilitation facility lessens the impact of Obamacare, it does not completely obliterate it.
4 – Hospitalists
Obamacare is on the side of the hospitalist. Hospitalists are typically internal medicine physicians with additional training in critical care medicine. These physicians do not operate out of an office setting. 100% of their practice time is spent in the hospital. Often times, the hospital, who understands better than the physician how to bill for maximum return, will be responsible for charging for the physician’s services. This adds an additional bonus, courtesy of increased reimbursement, for the hospital-based physician.
5 – Concierge Medicine Physicians
A relatively new medical model, the concierge physicians, will benefit from changes that occur from Obamacare. The concierge physician is typically an internal medicine physician who works on an out-of-pocket basis with all of his/her patients. It is expected that as patients become more disillusioned with the micromanagement of their medical care, due to Obamacare changes, they will embrace the concept of paying out of pocket for only what they need. In addition, Concierge medicine puts the power of managing one’s own healthcare at the fingertips of the consumer.Share