Friday, August 9, 2013
Obamacare Sparks New Businesses
Ah, yes. What was I thinking? The Republicans' attempt to stop the ACA in its tracks has nothing to do with business. It's all about politics. The Republicans didn't develop the ACA, a Republican president didn't push it through Congress and sign it into law, and the Republicans can't take credit for it. After all, most of them voted against it. I suspect that we can measure just how good the ACA is by the level of negative response from the Republicans.
Let's take a look at some of the start-ups Christopher Matthews mentions in his Time article:
-- IntelligentM makes a bracelet that monitors hospital workers' behavior to insure that they properly wash their hands in order to prevent infections in the hospital.
-- AdHere Tech monitors patients to ensure they are taking their medications.
-- Care at Hand has developed a mobile app to help home-care workers identify patients who may need more immediate care.
-- Blueprint Health which acts as a start-up health-care business incubator
-- Zenefits acts as an insurance broker for small businesses as well as offering HR and payroll services.
There are more start-ups that Matthews describes. Because of the way the ACA is forcing the insurance industry and health-care businesses to change their business model, it is making way for innovation. That is important for our economy. That's a good thing, right?
The ACA focuses on outcomes, not on fees for services rendered. The ACA also stipulates that insurance companies must -- must -- spend 80% of their revenue on medical care for their customers, and pay for salaries and other expenses out of the other 20%. Profit comes out of that 20%, too. I like that. I would also like to see hospitals, doctors and other medical service providers get real about what they charge and change their master charge lists.
I look forward to beginning my insurance browsing online in October. After listening to so much hand-wringing and howling about the ACA being bad for the country and for people, I welcome its implementation to show the hand-wringers that they were only anxious about change and didn't recognize a good thing when they saw it because of their anxiety. Remember, change is good.....