CEO Exchange: Top Execs Share Insights, Solutions, and Strategies
The Baylor Quality Alliance, for example, starts with its own employees, according to Steve Newton, west region president at Baylor Scott & White Healthcare in Grapevine, Texas. He says they have already achieved some impressive results.
A Self-Insurance Pilot
"Our self-insured population has 35,000 covered lives, we're connecting IT with 600 employed doctors in a private label ACO, and we've achieved a cost reduction of 5% in the past year through adopting certain clinical pathways and getting all the specialty groups to follow clinical guidelines based on algorithms that were developed under evidence based medicine, and that also happen to cost less money," he says.
"It's a pilot project, but with the scale, we have enough points of access. Scaling that kind of thing is the fundamental challenge. The question is whether we can effectively aggregate our clinical assets to be ready to share risk."
Just more than half (54%) of respondents say they've planned a "selective" growth strategy over the next three years, with another 39% saying their growth strategy would be "aggressive." Only 7% plan caution in growth.
Capital Spending Projections
One reason for growth is to build scale, in a defensive reaction to shrinking reimbursements and other challenges facing healthcare organizations today. HealthLeaders Media continues to cover the ongoing M&A trend. Yet among CEO Exchange attendees, hospital acquisition falls at the bottom of planned 2014 capital budget expenditures.
- Interventional Radiology No Longer a Sub-Specialty
- NFP Hospitals' Revenue Growth at 'All-Time Low'
- Acute Kidney Injury Gets New Focus
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- Transforming Cancer Care
- Evidence-Based Practice and Nursing Research: Avoiding Confusion
- mHealth Tackles Readmissions
- CNO Leads $1M Charge for New Scrubs, Uniforms
- Sharp HealthCare Leaves Pioneer ACO Program
- Proton Beam Therapy Poised for Growth in US