The Affordable Care Act (ACA) is right now under threat. This is due to President Donald Trump promising that he would repeal it. So far, he has been wholly unsuccessful in this. However, it is likely that he will be able to make some significant changes, and this could have an impact on ACA reporting and on other elements. Exactly what those changes are isn’t entirely clear yet.
Prospective Changes to ACA Reporting?
One thing is for sure, and that is that Meaningful Use (MU) will continue its transition into the Medicare Access & CHIP Reauthorization Act (MACRA). MACRA has led to considerable changes that have impacted various medical practices. Specifically, there are now compliance deadlines in place and non-compliance leads to significant penalties.
ACA and MACRA are two very separate things, but they are also completely linked and intertwined. It is very important to understand both, which can be difficult to do because the governance keeps changing. Ultimately, reporting requirements for both are in place to ensure people are able to get the best possible health care solutions at a price they can afford.
Under MACRA, it is essential that management expenditure is kept to a minimum. One way in which practices are encouraged to achieve that is by enlisting services from ACA-qualified consultants. This will ensure that practices understand what matters in their business and how they can continue to offer the right service as well.
Another thing that is unlikely to change if ACA is repealed or altered is the terminology used within it. In fact, a lot of the language used within ACA reporting must meet international standards. Hence, whatever actions the Trump Administration takes, they will remain unchanged.
How to Remain Compliant with ACA Reporting
Most required reports can be completed through automated software packages, which are fully compliant with current laws. What matters because of the potential changes to the laws, is that these software packages remain up to date. A medical practice, therefore, must ensure they find a reporting program that will update as and when required and that incorporates not just ACA reporting but also MACRA regulations.
Because of the political landscape, it is all too easy to confuse MACRA and ACA, particularly because they have so many similarities. Added to this is the fact that a lot of software developers are trying to take advantage of the fact that practices are confused, attempting to sell them programs that they don’t actually need. If you run a medical practice, therefore, it is very important that you spend some time comparing the options that exist for you and making sure that whatever software package you choose, it will continuously update as and when political and regulatory changes are made. You must equally be sure that it covers all regulatory reporting environments, being both ACA and MACRA. Do not leave these things to chance because non-compliance, whether accidental or not, will cost you heavily in penalties.