Preparing For PPACA Pt. 1

It seems like not too long ago, we were still talking about whether or not the Affordable Care Act would even see the light of day. Now, as we approach the last quarter of 2012, the ACA’s grip on healthcare is starting to take hold. Tax and compliance law regulations have already taken effect, and companies large and small are shifting the way they do business.

WithumSmith + Brown’s CEO, Bill Hagman, explored the way that some of these businesses are changing in a lengthy article on CEOthinks.com. Here are a few choice excerpts from the article.

In the months and years ahead, this legislation as we know it today will likely change, but most likely will not disappear in it entirety, as it is expected that certain provisions contained within the healthcare reform act will continue even in the event the act is overturned in the future.  Regulations and additional implementation guidance will be issued; new initiatives will be proposed; and those that have already passed may be adjusted or withdrawn. As professional service providers and advisors, it is imperative that our views be both bipartisan and neutral, preparing our clients for whatever may come post-election.  At this point, however, there is much more clarification to be provided by the IRS on definitions and compliance rules, so we cannot advise on too many specifics just yet.  However, we do have some guidance to share in times like these…

…The most important piece of advice we can share with our business clients is to be proactive in running a lean and mean company, focusing on the areas of employee utilization, operational efficiencies and expense cutting, getting the most value out of every dollar.

Hagman’s expertise is in tax law, and the article’s opinions reflect that. However, any major health facility can certainly appreciate his advice on “getting the most value out of every dollar.”

The ACA will bring a massive change to health care, there is no question about it. The only thing we can hope to do is keep up with those changes, and rely on partners that can provide the support necessary to stay compliant.

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Pam Argeris is a thought leader in the Healthcare Industry and possesses extensive, hands-on experience with CMS compliance, and multiple regulatory bodies such as NCQA, JACHO, and DOI. In her role at Merrill Corp., Pam focuses on developing solutions for compliance and quality assurance, delivered in a cost effective manner to improve beneficiary and prospect communications. You can contact Pam at Pamela.Argeris@merrillcorp.com.