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Declining reimbursement rates for healthcare providers are expected to impact patients, especially those relying on private practices and specialized care. As insurers cut payments, providers may reduce services, cut staff, or even close, leaving patients with fewer options, longer wait times, and less access to specialists. In some cases, practices may shift to higher-volume models, leading to shorter, less personalized appointments.
These financial pressures could also lead providers to raise out-of-pocket costs or adopt cash-only models, which could burden patients with high-deductible plans, limited insurance and/or limited income. This may reduce access to care for many, particularly those who cannot afford the increased costs.
Additionally, as reimbursement rates fail to keep up with inflation, providers may struggle to attract new healthcare workers due to an inability to offer competitive salaries, offer adequate annual raises, potentially leading to a shortage of providers in the future as it may not be a fiscally feasible career choice in the future. Many providers are saddled with a significantly lopsided debt-to-income ratio due to these reductions in reimbursement and it is only getting worse as tuition continues to rise, but starting salaries remain stagnant.
With life expectancy continuing to increase, the demand for healthcare providers will only increase, but at this rate, the supply of healthcare providers may decrease significantly.
This is why it is important for you to reach out to your local state and federal representatives and advocate for your healthcare rights and providers before it becomes a larger issue! You deserve good quality healthcare; do not let it get taken away from you.
Dr. Matt Duncan, PT, DPT
