2016, an election year, is upon us and healthcare business is set to face an uncertain year, according to a Crain's Detroit Business report.
Here are six key observations:
1. Drug costs are the top concern for the public, polls show.
2. However, pharmaceuticals are a powerful lobby, and it remains to be seen if drug pricing will remain an important issue addressed by candidates after the primaries.
3. The ACA also faces an uncertain future, as any Republican replacement bill will involve tough trade-offs.
4. Both parties have made insurers scapegoats. Insurers are already under severe scrutiny as proposed mergers are being reviewed by federal and state bodies.
5. Hospitals, physicians and insurers will push for more advantageous decisions with regard to reimbursement, particularly with respect to Medicare payment differences at hospital and outpatient sites and meaningful use requirements.
6. Physician practices will keep a close watch on the implementation of CMS' new physician payment system that will replace the sustainable growth rate formula.