Coming off last night's election, every news source is scrambling to respond, investigate, and ultimately process the shock of this historic upset. The polls predicted a landslide victory for Hillary Clinton, anticipatory celebrations were had, but despite all that, Trump won. The question that all Americans are asking: what next?
From all the possibilities, one change is being talked about all over the country—Obamacare. With a Republican Congress and president, most predict a complete repeal of Obamacare early in Trump’s presidency. Whatever your position, the Affordable Care Act significantly expanded the pool of Americans able to pursue health care especially regarding their mental health.
For therapists, Obamacare created a greater push for practitioners to accept insurance because of the availability of insurance in combination with parity legislation. There is no doubt that in recent years it has become harder to convince clients to privately pay. Therapists often debate whether managed care or private pay is best for their practice. As a few examples, insurance offers advertising and referrals, allows clients to pursue therapy when they may normally avoid it, and diversifies the client pool, but insurance reduces therapists’ fees, increases paperwork, and limits the flexibility of therapists' treatment approach.
There is no question that the repeal of the Affordable Care Act will change the outlook for private practitioners. Thousands of prospective therapy clients, after only recently qualifying for health care for the first time, may soon be unable to pursue it. Practices that accept insurance may see a significant decrease in new clients. Insurance panels may become even more competitive to get on, and we may see a decrease of therapy jobs in hospitals and medical clinics.
The time is now for therapists to think creatively about keeping their practice thriving despite potential changes in the health care structure. While there is a lot of uncertainty ahead with the new executive administration, there are great opportunities for practitioners to revamp their businesses by developing client relationships that will stand the test of health care reform. People need the invaluable help of counselors and therapists. Be ready to adjust, rethink, and renew your practice in the years ahead.
-Maria Johnston at mentalhealthbookkeeping.com