by
Sean Ruck, Contributing Editor | October 01, 2011
From the October 2011 issue of HealthCare Business News magazine
First, let me start by saying it's a noble goal to provide health care coverage for every citizen in the United States. We are a few steps closer to the domestic coverage, but recent developments are troubling and may be an early indicator that health care reform will, in fact, be the dud that opponents claimed it would be. However, it's not an intrinsic fault in the plan itself, but more a consequence of the current economic climate.
Anyone who has been in the medical imaging sector for more than a few years knows the golden days are over. Cuts to reimbursement and increased utilization rates have made a once lucrative sector less profitable. Less profit means the field will be less attractive to individuals embarking on a career, especially when those same individuals are just being introduced to their student loan bills. Distilling this further, fewer professionals entering the sector means fewer individuals offering services - exactly the wrong direction to go when there's going to be an influx of new customers being covered.
And imaging is in line for another hit. President Obama recently released plans to address the growing federal budget deficit by, in part, introducing cuts to Medicare and Medicaid. Nearly $1.3 billion in savings would be realized over the next decade by further increasing equipment utilization rates by 2013 and by forcing doctors to obtain prior approval for some imaging studies. But it hasn't been detailed as to how much extra time doctors will need to commit to obtaining prior authorization. Still, that time commitment further translates to a hit to income, with even more time required to make the same profit as was available in the past.
Ultimately, we may be looking at a situation where people without previous coverage will have the pleasure of waiting a long, long time to enjoy their newly delivered care options and those individuals with existing coverage will be waiting alongside them wondering how something so positive for society in a way, could go so horribly wrong.
Until next issue!
