Surviving the Healthcare Tsunami - Renato Suntay, Meadville Medical Center
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Presentation delivered by Renato Suntay, Chief Financial Officer, Meadville Medical Center at the marcus evans National Healthcare CFO Summit Spring 2016 held in Palm Beach, FL
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Surviving the Healthcare Tsunami - Renato Suntay, Meadville Medical Center
- 1. HOW TO SURVIVE THE HEALTHCARE TSUNAMI May 2016
- 2. Industry Dynamics: • Payment and Delivery becoming more interdependent • Health care becoming more retail • New clinical care models transforming care delivery
- 3. Industry Dynamics: • Technology changes creating business models to change • Government is playing a larger role • Local competitive dynamics shifting
- 4. Why is Change so Difficult: • Fee for service engrained in existing architecture/reimbursement leadership is required to change • Uncertainty of what future state looks like • Value based models and measures are still developing in some specialties and settings
- 5. Why is Change so Difficult: • Transformation requires funds for support and infrastructure • Health IT infrastructure needed to share health information to new models to be successful • Difficult to communicate with patients, doctors, employers, payers and others
- 6. How Do Companies Reduce Health Care Cost: • Through benefit design • Pass through costs • Incentive fees • Company subsidy of copayments
- 7. How Do Providers Reduce Cost: • Cost reduction does not work! • Need to keep up with new costly technology • Expert Labor costs are unsustainable • New generation drugs always in demand • Providers need to change the way care is delivered!
- 8. Things that you do not want to see! • You do not want to see how Democracy works • You do not want to see how sausage is made • You do not want to see how healthcare is developed
- 9. What is the Problem in Healthcare • Money’s worth vs. Cost • Care vs. Value • Reimbursement vs. Outcome • Compassionate care vs. Technology • As you can see, it is very difficult to define the overall objective of Healthcare
- 10. Current Trends • OutPatient Services • Pharmacy • Inpatient Services
- 11. Current Trends • Ambulatory & retail site • Post Acute care • Alternative care • Government set the stage for providers to deliver care!
- 12. Opportunities • Maximize HACHPS value based scores
- 13. COURTESY OF PERSON CLEANING ROOM RESULTS 0 25 50 75 100 1st Qtr 2nd Qtr 3rd Qtr Goal 4th Qtr 34 84 81 90 92
- 14. COURTESY OF PERSON SERVING FOOD RESULTS
- 15. NURSING RESULTS 0 22.5 45 67.5 90 2N 3N 4N ED 22 48 27 9 48 54 40 20 81 54 54 28
- 16. Nurses Treat w/ Courtesy and Respect HCAHPS - Overall MMC
- 18. HCAHPS May 2015
- 19. HCAHPS June 2015
- 20. HCAHPS July 2015
- 22. Opportunities • Maximize HACHPS value based scores • Maximize quality incentives and Gain Share programs • Develop Community Care Networks • Expand services in growth areas • Look for opportunities to allocate overhead in other service lines • Develop Rural Health Centers in appropriate areas