The healthcare reform bill, while controversial, is embraced by health insurance companies, drug producers and other actors that wanted a clear image of the US healthcare market.
However, company executives say that more is to be done in order to solve the problems of stagnation in health information technology and rising costs, as current legislation is far from perfect.
According to GlaxoSmithKline, the new law created the framework for a more stable and predictable business environment, although the short-term effects were excruciating. With changing legislation, the companies found it difficult to plan, predict and invest in a changing environment. The healthcare related companies must now find ways to align their activities with the new framework. Drug companies, unlike insurance providers, have not been affected too much by the bill.
The overhaul law brings major changes on health insurance companies, with more taxes, new spending and consumer protection rules. The bill also requires that people buy health insurance policies, under penalty of fines should they fail to do so, stating in 2014.
The industry replied through this assessment to Republican representatives who vowed to repeal the healthcare bill in their campaign.
The US health sector has been living in uncertainty ever since Barack Obama was elected president in 2008, when he said he would give the 2.6 trillion dollar health industry a face-lift.
Department of Health and Human Services representatives said that, despite the debate, most people and companies will find the new law to be better than the old system once its implementation begins.
