Swot Analysis Of Obamacare

Industry Size and Growth Trends

As one of the largest employers in Southwest Georgia, Phoebe has welcomed more than 4,000 of our community members to the Phoebe Family. However, it is just a small spec in a large painting of the healthcare industry. Healthcare is one of the most continuously evolving industries and is still growing. According to Bureau of Labor Statistics, data shows that Healthcare created more jobs than any other sector in 2016, helping to drive total annual job growth to 2.2 million, adding 43,000 jobs in December alone. Annually, the industry adds 406,000 jobs.

Regulatory, Political, and Legal Concerns

After American Health Care Act (AHCA) failed twice in its quest to repeal the Affordable Care Act (Obamacare), the

Due to this allowance, competition will increase causing companies’ power monopolies to decrease and lower the costs. Another result is that the expenses will become excessive for national insurance companies to operate in various states causing only half of the population to be insured. The mandate removal means that treatment for chronic diseases will not be administered to those who are in need, resulting in a health crisis. Prime example is the Opioid Crisis. With Opioids being declared the leading cause of death for US Adults younger than the age of 50. With deaths increasing from 52,000 to 68,000, almost half of the deaths involved a prescribed opioid. Though there is concern from healthcare organizations, consumer advocates as well as policymakers, this is a crisis that can’t be alleviated with quick fixes. They will use emergency rooms that must treat everyone, sending costs up for

Since Population aging, Obesity and Chronic disease are on the rise, a new demand of medical services have been created. Until the efforts to deflate patient volume through urgent care or the redesigning of primary care models take effect, the emergency departments will continue to be overworked, even with decreased wait times.

ICD10 Code Changes Along with a new Value-Based Payment Program, the changing of ICD10 codes from 2015 has let to dismay from Physicians. There is a large deal of re-training, planning as well as obtaining new systems to go along with the upgraded codes. With the number of codes increasing from 14,000 to 68,000, diagnosis criteria must be re-learned. Finding time to do so has proved to be one heavy challenge for doctors and currently still is.

Data Security and Breaches Another challenge that the healthcare industry face is Data Security. With constant unveilings of data breaches in various industries, it has become a growing concern for providers, consumers and payers. Patient privacy is the main priority of the industry and it is a must that the providers need to be aware of the best practices possible for data security in order to avoid HIPAA (Health Insurance Portability and Accountability Act) violations that can cause a negative effect on an