WHAT CHANGED IN THE HEALTHCARE FIELD WHEN ACA WAS IMPLEMENTED?

Identify Provider and Two Changes

The Affordable Care Act created a pharmaceutical tax hike in the pharmaceutical industry. Pharmaceutical companies are facing a huge increase in government fees, while also offering Medicare patients prescription medication at increasingly low costs. The government fees will continue to increase till 2019. Pharmaceutical manufacturers must provide a 50{0e601fc7fe3603dc36f9ca2f49ef4cd268b5950ef1bbcf1f795cc00e94cdd119} discount on “brand name” prescriptions filled in Part D coverage gap. Federal subsidies will provide 75{0e601fc7fe3603dc36f9ca2f49ef4cd268b5950ef1bbcf1f795cc00e94cdd119} discounts on brand-name and generic drugs by 2020.

The law will impose a pharmaceutical industry fee on sales of brand name pharmaceuticals for use in government health programs; $3.0 billion per year for 2014 through 2016, $4 billion for 2017, $4.1 billion for 2018, and $2.8 billion for 2019 and thereafter (Rajasekhar, V., 2014).

Though the Affordable Care Act can have a slight negative affect towards costs; it can be a great thing for business. Pharmacies can be expected to see an increase of patients because there will be a greater amount of people seeing doctors which will likely lead to more prescriptions being filled, and more pharmacists being hired.