Effect That Healthcare Reform Has on Stakeholders
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The Affordable Care Act (ACA) was signed into law in 2010 by the then president of the United States, President Barack Obama. It was a landmark health legislation initiated and passed to increase access to affordable healthcare and improve the internal environment for healthcare facilities. The Act helped provide access to medical insurance covers for low-income earners, making it easy to access healthcare and meet the cost for treatment and drugs Gaffney & McCormick, 2017). The paper will focus on the analysis of stakeholders the Affordable Care Act had impacts. An analysis of this nature allows policymakers to develop and promote health programs that will address the changing needs of different groups of healthcare stakeholders in the United States.
Groups of Stakeholders Impacted by the ACA
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There are various groups of stakeholders impacted by the ACA. Firstly, the primary consumers of these health services, the country’s citizens, were among the stakeholders who the Act affected. The citizens always expect policies and programs that address their health needs and address any problem they encounter. Secondly, the care providers were among the other group of stakeholders affected by the Act. This group consists of physicians, nurses, and other medical professionals and practitioners. The needs of these professionals keep changing as well, and to address this, adequate resources allocation, proper practices, and streamlined care delivery models are crucial. Lastly, the Act also impacted the various health facilities within the county (Béland et al., 2015). These include the hospitals, the various medical facilities, and the health clinics within the country. They are considered a critical part of the implementation process. They can ensure that high numbers of patients can access and receive high-quality care and medical services through their participation.
Financial Impact of the ACA on Each Group of Stakeholders Including Potential Short- And Long-Term Impacts.
Each of the outlined stakeholder groups is set to record different financial impacts from the health reform. The health reform advocates for more medical coverage for more citizens by the various insurance companies, which will benefit the citizens as it will significantly decrease the costs of the health services (Courtemanche et al., 2019). Due to the significant reduction in the expenses incurred, citizens can save more financial resources that they can use to drive their projects. This health reform is expected to have substantial economic impacts on each of the outlined stakeholder groups. For instance, patients will record decreased healthcare costs as the policy requires employers and insurance companies to provide medical coverage to more people. Consequently, all beneficiaries will incur minimum expenses, thereby saving their financial resources for other personal projects.
The second group of stakeholders is care providers. These professionals and practitioners in various fields are best positioned to deliver quality care to a high number of patients. They are therefore set to record high levels of income as a result of this reform. Independent practitioners will also not have to hire specialists, further saving on their costs as well. The reform, however, does not advocate for increased pay for those employed in the different facilities, despite the increased quality and amount of care services the reform expects them to deliver (Anderson, 2016). This gap needs to be addressed by the responsible policymakers to make sure they address the practitioners’ various needs.
The third group of stakeholders, the health facilities, is also set to record significant impacts on their financial resources due to the reform. These facilities are expected to make more profits as more people will qualify for health services. Facilities also lose significant amounts, especially when caring for uninsured individuals who eventually cannot pay for such services. With the increased insurances of such patients as provided by the reform, such losses will be significantly cut; thus, the facilities will save more finances for running other operations within them.
Benefits of the ACA on Each Group of Stakeholders Including Financial and Other Benefits
The health reform is expected to impact the various stakeholders in different ways significantly, and the financial impacts are highlighted above. Implementation of the Act will enhance the accessibility of health services. Many individuals will be able to access care services from different facilities since barriers to access, such as financial constraints, are addressed through the insurances that the Act advocates for (Courtemanche et al., 2019). The population’s health status will improve compared to before, which means better lives and reduced cases of terminal illness as they will be able to present to the facilities early enough before their conditions progress and worsens. Besides, the citizens will also incur fewer expenses on the various medical expenses. They can, therefore, quickly go ahead and run their projects peacefully, as a healthy population is a very productive economy as well.
The reform transforms the nature of the existing care delivery system, which is hindered by various challenges that make it hard for medical professionals to deliver quality care as required. The transformation, therefore, benefits this group of stakeholders by meeting their needs, thus providing them a suitable environment where they can efficiently deliver care to the patients (Anderson, 2016). The third group of stakeholders, consisting of the health facilities, will benefit significantly, as more people will seek medical services in these facilities. Increased patient numbers will boost their earnings and profits. Since people failing to pay for the care services will reduce, such facilities will also minimize losses.
Drawbacks of the ACA on Each Group of Stakeholders
Despite the benefits that the reform is expected to bring to the various stakeholders, they might face many expected challenges once the Act is implemented. Some citizens may fail to get the insurance covers as proposed, for instance, some young adults and the unemployed (Corso, 2021). This group of individuals will record poor health outcomes despite the reform trying to address such poor results. Healthcare providers will also experience challenges such as increased working hours to cater to the high number of patients. With no increased salaries, this will lead to job dissatisfaction and increased burnout, leading to work-related stress (Corso, 2021). Lastly, health facilities might get overwhelmed by pressures to expand their resources and practice models to take care of the growing demands of the patients.
This discussion has highlighted the various impacts ACA has on the country’s multiple stakeholders; the patient population, care providers, and the health facilities. It has also addressed the potential drawbacks which this reform will experience. The government and the various policymakers should aim at working on the multiple challenges and finding better solutions to them to ensure the complete success of the reform in ensuring that all citizens can access quality health services.
Anderson, A. (2016). The impact of the Affordable Care Act on the health care workforce. The Heritage Foundation.
Béland, D., Rocco, P., & Waddan, A. (2015). Polarized stakeholders and institutional vulnerabilities: the enduring politics of the Patient Protection and Affordable Care Act. Clinical Therapeutics, 37(4), 720-726.
Corso, D. (2021). Drawbacks and aftermath of the Affordable Care Act: ex-ante moral hazard and inequalities in health care access. Journal of Public Health Research.
Courtemanche, C., Marton, J., Ukert, B., Yelowitz, A., Zapata, D., & Fazlul, I. (2019). The three‐year impact of the Affordable Care Act on disparities in insurance coverage. Health services research, 54, 307-316.
Gaffney, A., & McCormick, D. (2017). The Affordable Care Act: implications for healthcare equity. The Lancet, 389(10077), 1442-1452.
MN507-4: Synthesize the effect that healthcare reform has on stakeholders
For this Assignment, you will examine the stakeholders impacted by the implementation of the Affordable Care Act (ACA). Your paper must include the following topics:
• Differentiate between at least three groups of stakeholders impacted by the ACA. Specifically identifying each group and the similarities and differences between them as related to the ACA.
• Examine the financial impact of the ACA on each group of stakeholders including potential short- and long-term impacts.
• Summarize benefits of the ACA on each group of stakeholders including financial and other benefits
• Summarize drawbacks of the ACA on each group of stakeholders including financial or other drawbacks.
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