With all the changes and red tape surrounding the new laws, one might wonder if the pharmaceutical and medical technology industries will be affected during the transition.
Online PR News – 04-August-2010 – – Miami, FL - The HealthInsuranceFinders.com News Center reported that under the rules and stipulations outlined in the new health reform law, the U.S. Department of Health and Human Services (HHS) will be tasked with not only revamping current health coverage policies and procedures, but also restricting costs for health plans and ensuring that health insurance for individuals as well as for families is easily attainable. As our lawmakers begin this overwhelming task of streamlining health plans, it is critical for them to keep in mind the overall impact their actions will have on the health industry, children and e-health and patient care.
Health Reform Industry Impact
With all the changes and red tape surrounding the new laws, one might wonder if the pharmaceutical and medical technology industries will be affected during the transition. In the early 90's, the pharmaceutical industry displayed some stiff resistance to restructuring and reforming America's health plans and health insurance for individuals. However, in modern times, the sector has embraced and even encouraged the widespread reshaping of health coverage in this country. While motivating these changes, the industry also exercised a little self-preservation by outlining the terms of a deal for protection during the reform.
The medical technologies sector will experience a hybrid of new opportunities as well as never before experienced difficulties throughout the revamping of the current policies. In order for future medical progress to remain current and relevant, new payment methods and procedures must be implemented to streamline the process.
Children and Insurance Coverage
Results from recent studies really solidify the need for policy restructuring in an effort to best protect minors through Children's Health Insurance Program (CHIP) and Medicaid. These efforts must be in place as soon as possible to ensure a more seamless transition as we prepare to extend health insurance to individuals that have previously been uninsured.
Children currently covered under a private policy will often lose benefits within 90 days of a parent losing a job. This number is 6.5% higher than children who have parents that continue to stay employed. To eliminate this dilemma, Gerry L. Fairbrother of the Cincinnati Children's Hospital Medical Center, maintains local and federal officials need to eliminate waiting periods and eligibility restrictions to these children when their parents lose their jobs.
Also, despite being eligible for Medicaid or CHIP, approximately two million children enrolled in these programs still lost coverage in 2008. Benjamin D. Sommers of Harvard University noted this trend in his analysis spanning 2002 through 2008. He also made note that while retention rates for children in publicly offered plans have gone up, new matriculation has gone down.
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