Sen. Marco Rubio has been bragging he stopped a federal insurance "bailout" through Obamacare, but there's a place where insurers still could collect the money: a pile of money awarded by the U.S. Court of Federal Claims. If insurers chose, they could seek funds they were promised under the Affordable Care Act by appealing to the court, which decides disputes between the government and parties claiming they weren't paid money owed under a federal contract or a statute. So far, the thorny issue hasn't moved onto legal turf, even though insurers are irate that they're getting only a small fraction of the money the government was supposed to pay them for losses they incurred covering newly insured Americans under Obamacare. Insurance industry sources say there have been discussions about whether to bring a lawsuit, although there are questions about whether it's too soon since the federal government has two more years to make the payments.
This year saw a record number of healthcare data breaches, including Anthem's massive cyber attack where almost 80 million patients' personal information was hacked. As previously reported by Healthcare Dive, an estimated 81% of healthcare executives reported their organizations have experienced a cyberattack in the past two years. These mega-size cyberattacks damage a company's reputation and finances. Furthermore, the attacks may not be included in a hospital's medical malpractice insurance. However, the extent and severity of an attack is key to how it affects credit ratings and analysis. "We do not explicitly incorporate the risk of cyberattacks into our credit analysis as a principal ratings driver," the report authors wrote. "But across all sectors, our fundamental credit analysis incorporates numerous stress-testing scenarios, and a cyber event, like other event risks, could be the trigger for those stress scenarios." In the report, Moody's identifies several key factors to examine when determining a credit impact associated with a cyber event, including the nature and scope of the targeted assets or businesses, the duration of potential service disruptions, and the expected time to restore operations. Healthcare Dive wrote about a report by Accenture last month, which estimated cyber attacks will cost the nation's healthcare systems $305 billion.
Healthcare choices: Do you want paper promises or definite services? Look, I can promise you the moon, but will I or can I deliver? As with the stereotypical codependent female that swoons over the ridiculous lies of the narcissist 'bad boy,' the overly amorous, or for our purposes, the overly naive and expectant and perhaps lazy healthcare customer/patient, almost inevitably heads to dashed hopes and even tragedy! The magical notion that is something for nothing, an always too-good to be true moment of truth to be realized at least at some point hopefully, is the bane of humanity's existence. It always has been. The featured article in this post examines the problems fraught with specifically mental health parity. I extrapolate with the hope that you may better perceive accurately where value actually lies in regards to medical health services. Quality, affordable, and highly accessible [therefore well supplied to market] medical services are vital for you and me and any complex economy.
The next time you’re filling out paperwork in the waiting room of a doctors’ office or nursing home, you might want to look for a phrase buried amid all the legalese and checkboxes. It’ll be something like, “Claims are decided by a neutral arbitrator.” If it’s there, the provision will significantly change the way you can sue for damages if something goes wrong.
This report from the ACP has to be the most sanctimonious and fundamentally flawed “position papers” that I have had the displeasure of reviewing. Here is the official “focus”… of the paper: “how DPCP models can challenge the ethical obligations physicians have in regard to providing nondiscriminatory access to care.” Do they really think our current system is non-discriminatory as-is; and by association, that doctors are taking the high road by going along with it? Yes, I do believe that is what they are saying, and I couldn’t disagree more. Going along with it is part of the problem.