How One Health Care Entrepreneur Repositions for 'Obamacare'
'Obamacare' and the Healthcare Industry
Larry Lawson, CEO of eCardio, describes how he's preparing for Obama's health care reform and falling reimbursements.
00:11 Larry Lawson: In my business, my biggest challenge right now is Obamacare. I'm in the healthcare business, and reimbursements are being cut left and right. And my company relies entirely upon reimbursements; Medicare, Blue Cross Blue Shield, and so forth. And it's a jagged edge out there with these right now. We've had to reinvent ourselves. While reimbursements are going down, down, down, we've had to increase our business and come up with new methods, and ideas, and technology to continue increasing our business.
00:55 Lawson: The AMA controls all the codes for everything that's reimbursed in the medical area, and you never know from one year to the next, the AMA could just slash a code or that code could be the code that's paying you 10, 20 million dollars a year. And they can arbitrarily slash these codes and just cut them out altogether. And you have to be flexible, and I think that's one thing I will say about my company. We are so flexible and we move easily into new markets.
01:26 Lawson: We're looking at other income sources. For example, working directly with patients, providing monitors to patients and let them pay directly. We do a little bit of that already and I think that's going to be a growing trend of patients taking more control of their healthcare. And they're making choices like that, and this is an area that we are moving into with personal diagnostics. And I think that's going to be a growing trend.
PRINT THIS ARTICLE