The Challenges of the New Health Care Law May Lead to Opportunities for LI Service Businesses
It is certainly clear that the Affordable Care Act (“ACA”) has created angst and confusion among business owners on Long Island based on the questions, comments and observations of the attendees at our recent “Are You Ready for Health Care Reform?” seminar.
Aside from the perspective of the employer, there are complexities associated from the provider side of health care insurance and services.
For example, the complexities of the technological aspects of ACA have been playing out in the media in recent months, especially with the operation of the government website HealthCare.gov. Many of the state-run insurance exchanges have had their own challenges as well. Additionally, health insurance companies have had their share of difficulties navigating through the process of signing up customers. However, along with these challenges, opportunities can be presented. In the Long Island marketplace, there is an established and growing technology sector that may be able to capitalize on the increasing need for technology services related to the changes in health care arising from the ACA.
Examples include the growing need for the development and maintenance of health care related websites of insurance companies, federal and state governments and health care providers. Furthermore, the ACA includes a mandate for the implementation of electronic medical records that should lead to additional opportunities.
Remember the old adage: The other side of a problem is an opportunity! Savvy LI companies are likely already planning to take advantage.