Obamacare Creates Thousands of Jobs
Attacked by opponents as a throttle on the American economy, it appears as though Obamacare is leading to unprecedented job growth in the healthcare industry.
Bloomberg reports that in the years since Obamacare was passed, a staggering 90 healthcare company start ups have begun operation. They employ more than 6,200 people. While that figure alone may not sound impressive, experts say that such a figure is remarkable for the healthcare industry, which is not typically associated with start ups and entrepreneurial activity.
The requirements of Obamacare has created new economic openings and opportunities. For example, Zenefits, one of the largest start ups, is a health insurance broker for small companies. Since Obamacare was passed in 2013, the company has grown to more than 900 employees and serves more than 10,000 clients
Another start up company, Adelade, helps doctors capture some of the incentives built into Obamacare. Before Obamacare, doctors were often paid by insurance companies for the number of procedures they performed, which drove up costs. Obamacare created financial incentives for doctors to meet wellness goals that drive down costs but without harming patient health. Adelade helps doctors and healthcare providers adjust their practices to meet these goals.
The government has encourage economic growth in this area by allowing people to access the statistics on health and costs compiled by Health and Human Services. The agency hosts an annual event called "Health Datapalooza," which brings together both bureaucrats and entrepreneurs.
In addition to job creation, Obamacare has had other positive effects. For example, the growth in the cost of healthcare is lowest it has been in decades. Additionally, the cost of the law has been revised down several times and is now estimated to cost 20 percent less then when it was passed.
