Event recap: How Healthcare Reform May Transform Pharma

The event captured the perspective of three prominent business leaders on the subject of the Affordable Health Care Act (AHCA) impacting the healthcare industry. In turn, Blasine , Nancy, and Warren explained the relevance of the AHCA toward patients, insurance companies, and physicians.

Speakers:
Blasine Penkowski, divisional vice president oncology, Abbott Laboratories
Nancy Garrett, vice president, qulaity and analytics, Accretive Health
Warren H. Skea, PhD, director in PricewaterhouseCoopers' Health Enterprise Growth Practice

The event captured the perspective of three prominent business leaders on the subject of the Affordable Health Care Act (AHCA) impacting the healthcare industry. In turn, Blasine , Nancy, and Warren explained the relevance of the AHCA toward patients, insurance companies, and physicians.

The reason for developing the AHCA is simple. As 17% of the GDP is affected by healthcare, the US is unable to grow the economy enough to recover from the current financial distress. Over the years, analysts have researched the idea of a coordinated healthcare system that would benefit all three parties. As a result, Congress put forth the AHCA to address three areas of concern.

  1. Increase Access—enhance  the patient experience
  2. Improve quality—improve the overall health of the population
  3. Reduce Costs—reduce or control  the per capita costs

Over time, standards will be created to increase communication and cooperation between the patient, physician office, insurance and hospital. Incentives will be based on promoting and living a healthier lifestyle with preventative care. Doctors will be more cost effective, specialists will be used when necessary and outcomes based medicine will be the top priority. The outline of the AHCA will allow patients to focus more on proactive than reactive medical care resulting in lower medical costs and a healthier population.

Moving forward, within five years, patients will make one payment to one entity to manage their healthcare plan. Hospitals, specialists, labs and insurance companies will share the medical risks of treating patients within one group called an ACO Affordable Care Organization. Currently, agencies throughout the US are working with local physicians and hospitals to create these all inclusive medical groups.

The AHCA allows all parties to transition slowly into the new business model. Pharmaceutical and insurance companies will take on the majority the patient education responsibilities. To learn more, review The Institute of Social and Economic Research at UAA website for timeline and news updates. The Research Institute website contains extensive information about the AHCA and the ACO groups, and timelines for the changes.

 March 22 Event

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