The Affordable Care Act (better known as the healthcare reform bill) is in front of the Supreme Court this week — and seemingly in danger of being overturned at least in part.
What does this mean for health insurers who have diligently invested in compliance initiatives related to the law? We've discussed some of this work already, including the roles of analytics and accountable care organizations. I've even wondered if regulation is a key player in driving insurance innovation.
I asked Jeff Welch, divisional vice president of the Chicago-based Health Care Services Corporation, which operates Blue Cross and Blue Shield plans in Illinois, New Mexico, Oklahoma and Texas: What is his organization doing while the law hangs in the balance?
"The process [of compliance] is in motion and the majority of it is going to stay in motion," he says. "Regardless of what happens at the Supreme Court level, a lot of the legislation will stay intact — and we can't afford to wait and see."
Modernizing the healthcare system has to remain a priority for insurers, because a more efficient system benefits all stakeholders, Welch adds.