Reduce healthcare expenses and bringing maximum people under the healthcare insurance umbrella is always a challenging job. The high cost had made the US healthcare system twice as expensive per person as compared to any other developed country in the world. In 2011, the average healthcare cost of the family increased by 7.3% as compared to how it was there a few years back and in total this had impacted the economy adversely. Rising health care costs could threaten to consume most of the federal budget giving strong reasons for Healthcare Reforms and Act like the Affordable Care Act.
Not only cost but there are also other factors too which strongly require Healthcare reforms like the quality of care, cover maximum uninsured people and reduce unnecessary expenses or frauds.
Affordable Care Act
The Affordable Care Act is the most important act after Medicare and Medicaid defined in 1965. The Affordable Care Act was designed to improve quality of care, affordability, and accessibility. ACA had made significant progress towards solving long-struggling challenges and since it comes into law it helps to reduce the uninsured rate in the US from 17.8% in 2010 to 10.4% in 2018 (around 46.5 million people to 27.9 million people).
Why is the ACA important?
Problem: Millions uninsured and those do have insurance tend to pay much more than other countries
- More and better insurance coverage
- Reduce Uninsured
- Prevention is better than cure
- Better health outcomes in terms of quality of care, cover maximum people and reduce wastage
With 16+ years of Healthcare industry experience, smartData has contributed towards developing health insurance market reforms and care-gap related projects, investing more than 100 thousand hours into such development.