"The second, much quieter cost revolution is this speedy, aggressive roll-out of the HITECH law’s electronic healthcare record (EHR) and health information exchange" said Stephenson
Burbank, Ca (PRWEB) July 23, 2012
RISARC, a leading national provider of high-technology and revenue recovery solutions to the U.S. healthcare industry sees substantial savings reflected in CMS projections related to the impact of the Patient Protection and Affordable Care Act (PPACA), approved by Congress in March of 2010 and victorious on Thursday, June 28, in a 5-4 vote of the U.S. Supreme Court.
RISARC Founder and Chief Executive Richard Stephenson, who is also a California CPA, has been providing financial and healthcare consulting services to leading healthcare corporations for more 22 years. Evaluating the various analysis that have been put forth regarding the PPACA, Stephenson believes that estimates provided in two reports by the Centers for Medicare and Medicaid Services (CMS) present the most viably trackable projections when it comes to cost savings as well as decreasing the ranks of the uninsured once all of the reforms included in the new law, are fully implemented.
According to a CMS Actuary Report, expected overall changes in the uninsured figures should change from the current 56.9 percent to 23.1percent. In the CMS Report, The Affordable Care Act: Lowering Medicare Costs by Improving Care, it projects cost savings to be in excess of $200 billion.
Said Stephenson: “That number will grow over time as the new system matures. Government-provided health insurance is uniformly lower in cost worldwide. That is already true in this country within a Medicare system that protects older and disabled Americans. Like Medicare, the new healthcare law incentives encourage early preventive diagnosis and will provide much less bureaucracy and certainly much lower administrative costs than our current, largely private system.”
Also to be factored in is the rapidly increasing use of digital tools and electronic records by U.S. health care providers, encouraged by the provisions of the Health Information Technology for Economic and Clinical Health Act (the HITECH Act), passed by Congress in 2009 as part of the nation’s stimulus package.
Added Stephenson: “The second, much quieter cost revolution is this speedy, aggressive roll-out by the Obama Administration and Kathleen Sebelius, Secretary of U.S. Health and Human Services, of the HITECH law’s electronic healthcare record (EHR) and health information exchange incentives (HIE). Early pioneers in the adoption of EHR’s such as Kaiser Permanente and the Mayo Clinic recognized the potential cost savings in the uniform use of EHR’s, powering a dramatic drop in readmissions, and unnecessary procedures and, as a side benefit, a significant drop in medical errors. Additional corollary benefits that must be considered are the added safety and effectiveness in medical and preventive care that comes from this digital revolution, they will add immensely to the health and healthy lifestyles of Americans for generations to come.”
RISARC is a leading national high-technology and revenue recovery consulting firm to the healthcare industry. RISARC, founded in 1990, has recovered over $1 billion for its clients. The company offers the RMSe-bubble™ for secure electronic document exchange and the signature RISARC 360° single-source solution that combines healthcare revenue cycle expertise with innovative cloud-based, cost-saving technology to help clients optimize existing resources, meet business objectives and reach financial goals. RISARC is a pioneer in healthcare technology solutions and is a certified Health Information Handler for the Centers for Medicare and Medicaid Services, esMD project. The RMSe-bubble provides the industry’s best secure, HIPAA-compliant environment for electronic record and document exchange and has been endorsed and accepted by providers, commercial insurance carriers and government agencies across the United States.
Please visit us at http://www.risarc.com for additional information.