Here are five takeaways for ASC owners and administrators:
1. Prescription drug costs: Mr. Biden said his administration has been committed to lowering prescription drug costs and allowing Medicare to negotiate drug prices to save billions of dollars. He aims to keep it that way. “Make no mistake, if you try to do anything to raise the cost of prescription drugs, I will veto it,” he said.
2. Medicaid expansion: Mr. Biden encouraged permanently expanding Medicaid coverage; millions are set to lose coverage in 2025.
3. Taxes: Mr. Biden committed to not raising taxes for individuals making less than $400,000, but his plan does set a 15 percent minimum tax rate for billionaires.
4. Surprise Billing: Mr. Biden said laws banning surprise bills have prevented 1 million surprise medical bills per month.
5. Noncompete agreements: Mr. Biden held firm on his administration’s position against noncompete agreements. “We’re banning those agreements so companies have to compete for workers and pay them what they’re worth,” he said.
Read the full transcript of Mr. Biden’s speech here.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.