Stimulus Package and its Impact on the Healthcare Industry and Jobs |
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Posted By: Staff Editor In: Healthcare & Medical
Where can I learn more about the stimulus package and what it means to the healthcare industry? Check out HealthcareJobSite.com.
Healthcare jobs—and healthcare plans—saw benefits from the Obama administration’s 2009 economic stimulus package that included help for states struggling with COBRA and Medicaid costs.
The American Recovery and Reinvestment Act included approximately $87 million in funds for a temporary increase in the Federal Medical Assistance Percentage, aimed at helping states avoid slashing budgets for Medicaid. The stimulus package also included additional funds for COBRA, the health insurance program for workers who have been fired or have left their jobs.
What impact has all this had on the healthcare industry? In terms of the previously mentioned measures, much of it insures business as usual; individual healthcare goes on for people covered under COBRA and Medicaid without interruption.
But other parts of the stimulus package have a more direct effect on healthcare jobs. Healthcare costs may not be offset by the $500 million for public health, but that part of the American Recovery and Reinvestment package creates job security and additional healthcare jobs in some cases for those seeking work in community health centers or in fields affected by that $500 million boost.
Healthcare jobs in danger of being cut due to a lack of funds may get a reprieve under the stimulus, and when it comes to medical records, the influx of federal money means a huge change in the tech sector of individual healthcare. Part of the stimulus includes funding for the medical industry to switch to a completely digital medical records system.
The paper records system is inadequate for modern medicine, and while the transition to an all digital system can be costly, it’s a much-needed upgrade now made possible for many thanks to government funding.
Some sources claim it can cost a single medical practice as much as $50,000 to convert to a digital records system. That means a financial liability for the doctor’s office, and it also creates a bigger need for medical IT support. Those twin expenses are part of the reason the stimulus includes nearly $20 billion aimed specifically at digital record keeping.
If you’re looking for a healthcare job, or want to get technical certification in IT support with an emphasis on medical facilities, there’s no better time. In an era where healthcare plans are in the spotlight and the demand for healthcare jobs can’t exceed the need for workers, the time is definitely right to work towards certification or start an entry level healthcare job with an eye towards moving up the ladder.
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