If you don’t adapt your business in the changing environment, you’re going to fall behind!

The following excerpts are from an article that was published on 2/10/13 in the Daily News entitled “Affordable Care Act to present new challenges for medical professionals” by Leigh Irvin.

As I continue to bring to your attention, our industry is changing.  Our opportunity is continuing to grow with increases in demand and population.  But as you read the following, ask yourself, how will all of this affect your business?

Implementation of the “Affordable Care Act,” also known as “Obamacare,” has physicians and administrators conjecturing about what reform will mean for the future of healthcare.

Rick Wallace, chief executive officer at San Juan Regional Medical Center, believes healthcare reform will present new challenges.  “The focus behind the act is provider accountability,” said Wallace.  “But the challenge is that there will be more patients and a shrinking availability of physicians.”

Under the act, hospitals are judged by the quality of care given, using 176 different “core measures,” as well as on the patient’s hospital experience.  If these factors are determined to be superior, the hospital could receive a ten to fifteen percent bonus in reimbursement.  The flip side is that if service is judged to be sub-standard, the hospital could be penalized.

One of the stricter standards is that if a patient is treated at the hospital and released, but is readmitted within 30 days of discharge, the hospital will lose all of the reimbursement it received for providing the first treatment.

Though medical providers can be penalized under the new act for providing substandard care, the actual patient, who may have been responsible for creating his or her own health problems in the first place, cannot.

“People do need to be accountable, and we (the hospital) have already been doing that,” said Wallace.  “The challenge will be in keeping track of all the numerous rules and and making sure we check all the boxes the government requires.  It creates a lot of redundancy, and I don’t know if they considered the amount of extra work it requires.  We will just have to be better at what we do to meet expectations.”

To be clear, the excerpts that I just provided are from a news article from just a few days ago.  I am not the author of the article.  Rather, I am simply the messager that is working to put information before you to illustrates some of the many influences that are affecting our industry.

Now ask yourself, do you have a plan let alone know how your business is going to adjust to the changing climate so that you can not only survive, but THRIVE in the new environment?

Let’s be real.  There are a LOT of business owners in all types of industries that hate change.  They are resistent to change.  But honestly, that is what separates thriving and prosperous business entrepreneurs from all of the local mom-and-pop-shop business owners.

You have to aks yourself, how is it that some entrepreneurs have businesses generating several millions of dollars in annual revenue and others struggle to just make ends meet.  And again, this is applicable for ANY business in ANY industry.

The fact of the matter is, change is a good thing and it provides us with new opportunity!

If you’re serious about learning how to make your business grow and prosper in our changing environment, CLICK HERE