Since it was signed into law in 2010, the Patient Protection and Affordable Care Act has made a lasting impact on the healthcare industry, including the creation of 90 new companies, according to a report from PwC's Health Research Institute.
The report, which was released March 18, shows the following five key trends fueled by the PPACA have ignited transformation in the sector:
1.Risk shift: The PPACA added force to new payment models that reward outcomes and penalize poor performance such as high readmission rates and hospital-acquired conditions.
2.Primary care: Experimentation in new payment models and expansion of insurance coverage are making primary care once again the critical touch point.
3.New entrants: New entrants are rushing into the market to meet the demand for lower-cost, consumer-oriented care options in the post-PPACA era. More than 90 new companies have been created since 2010, according to HRI analysis.
4.Health insurance: Rapid enrollment in the PPACA's public exchanges has demonstrated the potential of retail-style health insurance and spawned renewed interest in private exchanges.
5.Reform's pivotal stage: States have emerged as key players in the reconfigured healthcare landscape, as the PPACA gave states notable discretion in how the law could be implemented.
Moving forward, industry leaders are encouraged to visit strategies that emphasize saving over spending and quality over quantity, watch closely as the reimbursement model moves from fee-for-service to accountable care, innovate to meet the demands of the new healthcare consumer, pursue opportunities to enhance consumer choice and engagement in selecting health benefits and work with states as they continue to shape the future landscape.
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