Even though Obamacare was signed into effect on March 23, 2010, there are still people who can’t afford the high cost of healthcare for those conditions not covered under their policies. While every person is required to carry some type of healthcare insurance or face tax penalties, some still don’t have the wherewithal to pay their portion of the bill and others yet aren’t covered for some services that would keep them healthy.
In an effort to provide necessary services to all people, physicians are trying to keep costs low in key ways. Unfortunately, it is often a case of too little, too late. It is sad to look at how the high cost of healthcare prevents patients from seeking help timely.
Many People Still Can’t Afford Healthcare
According to an article in Newsweek on May 21, 2015, many Americans who are insured still can’t afford the cost of healthcare. The article stated that a number greater than 30 million still don’t go to the doctor because of the high costs involved. Bear in mind that these are people who have insurance. This was based on a report from the Commonwealth Fund on the out-of-pocket expenses preventing patients from seeking help. This is indicative of a growing epidemic of another kind and that is the ever-present concern that more could be done to keep costs down.
Doctors Have Ways to Reduce Costs
Actually, there are ways in which to solve the dilemma but many doctors are not taking advantage of the means at their disposal to reduce their overheads in an effort to keep costs lower. One of the ways in which doctors could reduce overheads is to take advantage of technology that is readily available. Literally thousands of manpower hours are spent each year contacting and billing patients and this could all be significantly reduced with such things as electronic medical billing software that automates many of the processes that humans now undertake. Reduction in payroll could put a huge dent in the amount of expenses doctors incur each year and those savings could be passed onto patients, keeping their costs more affordable.
Hidden Costs that Could Be Reduced
Some doctors are not aware of the fact that there are hidden costs which could be reduced with just a bit of research. Medical supplies is one area where costs can often be significantly reduced. Your bookkeeper or accountant can go over invoices to see which supplies are costliest then it is up to your support staff to begin looking for competitor suppliers who might have the same quality, and in some cases the same supplies at a reduced cost to you.
Any way in which you can keep your expenses reduced will help to keep the costs lower for patients who could very well need services that they just can’t afford – even with the required health insurance. By using technology and searching for costs that can be cut, you can do your part in making healthcare more affordable. This in turn could very well help to grow your practice making it a win-win situation for all.