Making Cost Containment Stick in the New Healthcare Economy
June 1, 2016
As senior vice president of strategy, business development, and technology at Truman Medical Centers (TMC) in Kansas City, Missouri, Mitzi Cardenas is used to doing a lot with very little. In fact, this experience serves her and her colleagues well as they pursue strategic cost containment initiatives. “It’s challenging, but in some ways it is advantageous,” she says.
Because TMC is a safety net, its leaders have been forced to develop a sophisticated vision around cost reduction, using population health management and targeted metrics as the foundation for growth and change. One of the health system’s key strategies is including costcontainment measures in the annual budgeting process. “I've been in healthcare for a long time, and measures can work really well for a short period of time, but getting them to stick on an ongoing basis is challenging,” Cardenas says. To that end, a powerful group of TMC leaders meet monthly to set and hardwire cost-containment initiatives.
Hospitals are building innovative outsourcing relationships to address a variety of goals in 2016 and beyond, including cutting more costs, improving care quality, and improving care coordination and the patient experience. This article examines how advanced healthcare organizations are forming strategic outsourcing relationships in ED medicine, hospital medicine and anesthesiology.
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Top reasons healthcare organizations are outsourcing in 2016
Bringing targeted clinical expertise to Henry County Hospital in rural Ohio
What Brookhaven Memorial Hospital Medical Center looks for in an outsourcing partner
Telemedicine continues to be top of mind for healthcare leaders in 2016. A host of factors, including innovative technologies, value-based care, consumerism, and an increased focus on the patient experience, continue to fuel growth in telemedicine and mobile health programs. According to a 2016 report by Foley & Lardner, LLP, “the global telemedicine market will expand at a compound annual growth rate of 14.3 percent through 2020, eventually reaching $36.2 billion, as compared to $14.3 billion in 2014.”
Thomas Jefferson University and Jefferson Health in Philadelphia are part of this trajectory. Leaders at the academic medical center, with five hospitals and 1,751 licensed acute care beds, acknowledge that they are on an aggressive path toward implementing a vast telemedicine platform, and they will spend roughly $20 million over the next several years to that end.
For decades, nurse executives have directed the largest segment of the workforce. Now, these savvy clinical leaders are using their catbird seat to help redesign the healthcare system. From overseeing bedside care and advanced education programs to helping roll out new delivery models, service lines, and technologies, nurse leaders are taking on increasingly challenging roles as they help drive much of the innovation taking place in healthcare.
Healthcare Tech Trends: Finding Success in the Great Whirlpool of Change
February 13, 2016
Phyllis Teater, CIO of The Ohio State University Wexner Medical Center, is quick to rattle off the technology concerns that will keep her and her national colleagues busy in the year ahead?such as the increase in cybersecurity threats and the need to prepare IT platforms for the continued onslaught of changes in healthcare, including consumerism, population health management, and payment reform.
New Strategies, New Investments in the Patient Experience
December 1, 2015
Alan Manning has an intimate view of what it takes to provide an outstanding patient experience, not only because he has been COO of Derby, Connecticut-based Planetree for four years, but also because he spent several months in the hospital with his critically ill daughter. That pivotal experience, while traumatic, solidified friendships with his daughter's nurses and brought him several years later to Planetree, a nonprofit organization started in 1978 by a patient who wanted to help hospitals deliver stronger patient-centered care practices. Planetree works with 700 organizations in more than 17 countries.