In March 23rd of the year 2010, President Barack Obama signed into law the Patient Protection and Affordable Care Act of 2010, or simply the Affordable Care Act (ACA) – also informally nicknamed “ObamaCare”. It officially took effect only in 2014 but the result of this landmark healthcare reform can easily be felt today.
New health insurance marketplace coverage options became open to American citizens. The changes aren’t as big for those already insured by their employers. For the rest, ACA allowed more people to be eligible for health insurance – most notably the removal of certain exclusions, such as pre-existing conditions, for certain insurance plans.
Healthcare reform, however, is still a work in progress. One problem faced today by medical facilities is the difficulties and errors that occur when processing a patient’s financing. With the increasing options for coverage, the process has become more complicated.
This situation affects the revenue cycle of many hospitals. Errors can still occur and hospitals end up losing revenue. One way this is resolved is getting assistance from RCM improvement services. For example, the service provider will coordinate with the hospital or doctor and the patient to assure a favorable situation for both – the patient gets the proper coverage and the healthcare provider is paid correctly.