| “Coming at a time when Federal Government itself is promulgating radical healthcare reforms to tackle growing medical expenditure on public healthcare, and promote efficient and quality medical care to its ever growing insured population, this paid-sick-days concept promises to complement the macro healthcare reforms formulated by the Federal Health Department.” |
Strange it might seem, yet there seems to be substance in the thinking that offering employees with paid-sick-days option will eventually bring down Federal healthcare spending on emergency medical services. The logic sources its root to a forthcoming report by the Institute for Women’s Policy Research (IWPR), which estimates that giving employees access to paid sick days would reduce visits to hospital emergency departments (ED) and save $1 billion in medical costs annually; currently public insurance programs support approximately half this bill.
Although the projected saving is roughly around 2% of the total spend of approximately $47 billion annually on emergency department services, there is growing consensus among the policy makers the paid-sick-days option would encourage a proactive and preventive healthcare conscience amongst the employees and their dependents, who otherwise would procrastinate medical visits for seemingly trivial cases that potentially would be more serious. Thus, by encouraging a proactive and preventive healthcare conscience, Federal Healthcare Body can look forward to ensuring a healthy population as well as substantial cumulative savings on public insurance programs such as Medicare, Medicaid, Medicare, Medicaid, SCHIP, and Veteran Affairs Services.
Coming at a time when Federal Government itself is promulgating radical healthcare reforms to tackle growing medical expenditure on public healthcare, and promote efficient and quality medical care to its ever growing insured population, this paid-sick-days concept promises to complement the macro healthcare reforms formulated by the Federal Health Department.
Quite presumably, there would be an additional burden on physicians committed to serve Medicare, Medicaid, SCHIP, and Veteran Affairs Services beneficiaries, who would show propensity to regular medical visits, encouraged by the paid-sick-days concept. Although physicians can count on pay-for-service fees, the potential growing volume would surely put their practices under tight schedule that would render them vulnerable to operational and administrative in-efficiencies. As their practices’ fortunes hinges solely hinges on efficient clinical management and operational management practices, a dedicated clinical management and operational management service becomes crucial. With in-house services failing to match up to the requisite bench-mark, outsourcing seems to be a viable option.
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FAQs
1. How does offering paid sick days reduce federal healthcare spending?
Paid sick days encourage employees to seek preventive care and address health issues early, reducing emergency department visits. According to the Institute for Women’s Policy Research (IWPR), this could save $1 billion annually in medical costs, with public insurance programs covering about half of these expenses.
2. What are the benefits of paid sick days for public healthcare programs like Medicare and Medicaid?
Paid sick days promote proactive healthcare, preventing minor conditions from escalating into serious issues. This reduces the burden on public healthcare programs, ensuring healthier populations while lowering costs for Medicare, Medicaid, SCHIP, and Veteran Affairs Services.
3. How does the paid sick days concept affect physicians managing public healthcare beneficiaries?
Physicians may face increased patient volumes as more beneficiaries proactively seek medical care. While this ensures better health outcomes, it also necessitates efficient clinical and operational management to handle the growing workload effectively.
4. Why should physicians consider outsourcing medical billing and practice management services?
Outsourcing medical billing and practice management ensures operational efficiency, especially when dealing with higher patient volumes. Expert services like Medicalbillersandcoders.com streamline revenue cycle management, including billing, coding, and denial management, allowing physicians to focus on patient care.
5. What services does Medicalbillersandcoders.com provide to healthcare practices?
Medicalbillersandcoders.com offers comprehensive Revenue Cycle Management services, including:
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