Impact of Presidential Election on Nation’s Healthcare Workforce
API Healthcare offered its insight into the impact of the re-election of President Barack Obama on the healthcare workforce of America.
“The Affordable Care Act is now solidly in place and its impact will continue to ripple across the industry in 2013 causing healthcare delivery organizations to pay particular attention to their investment in their workforce,” said J.P. Fingado, president and CEO of API Healthcare.
Together, Medicare, Medicaid, and the Children’s Health Insurance Program (CHIP) accounted for over 20 percent of the fiscal year budget in 2011 (almost $775 billion), and in order to ease financial burdens on the states due to Medicaid expansion, the federal government will pay about 93 percent of the costs related to the expansion. According to the Congressional Budget Office, this amount will equate to approximately $931 billion over nine years. It will also add nearly 14 million new patients into the healthcare marketplace while the aging population will present increasing demands upon the healthcare industry.
“With an expanding number of insured, healthcare systems must focus on resource optimization to keep labor costs in line, while taking better control of productivity,” said Fingado. “With a record number of API Healthcare client implementations this year to date, we are seeing a clear shift in information technology focus as clients prepare to face these challenges with innovative technology to optimize their investment in their most valuable resources – their employees.”