Top 5 Concerns of Hospital CEOs

Top 5 Concerns of Hospital CEOs

The Advisory Board surveyed over 180 hospital executives to determine what their top concerns were for 2017.

1. Ambulatory Access: 

Not only does ambulatory care help to keep a hospital competitive, it is also a type of care that is associated with lower costs. By focusing on improving the access to this type of care, the administrators can help keep overall hospital costs down as well as staying relative in the market.

2. Expense Reduction:

Reducing expenses is always on the radar of hospital administrators, but this year more than ever, they are looking for more innovative ways to save. Without going into details, the survey reported that innovative cost reduction while also improving patient care was a top priority.

3. Outpatient Procedures: 

Hospitals are looking to compete in the outpatient market. Administrators are looking at ways to increase outpatient procedures in their facilities, keeping patients under their care as much as possible.

4. Clinical Variation:

Minimizing the variation in the cost of care as well as the quality of care is a of critical concern. Last year's survey listed this as the number one priority, down to number four this year. The survey's Chief Research Officer, Chas Roades, noted that a shift in priorities from last year is in part due to the uncertainty of the healthcare reform.

5. Avoidable Utilization: 

Decreasing preventable complications by way of improved care is a hospital exec's priority at all times. It has not moved from this list for at least the last four years.

Source: FierceHealthcare

High-Tech High-Touch

High-tech, high-touch is the way of the healthcare future; the best in quality of care via smart technology. We are beginning to see health systems using technology to telemonitor in-home patients, or to target the most complex or ill patients, etc.

These types of technology have and will continue to decrease inpatient hospitalization rates, readmission rates, as well as emergency department rates and more. This is the definition of hospitals working towards great quality of care at decreased costs.

It must be stated that ancillary tech devices and systems would not be nearly as effective without the use of the EHR.

With an up-to-date electronic health record platform, we are able to use, automatically update and share patients' information through the EHR.

For example, in one senior community system, their tech model allows one-on-one care coordinators, with the use of an EHR to coordinate all aspects of their patients' care.

Imagine equipping high-risk patients with devices that monitor things like blood pressure or weight and alerting them when a small change occurs.

Through awareness and preventative action these patients and their caregivers are able to address potential issues while at home; reducing emergency and hospital visits. Improving the quality of life and care for patients simultaneously saving them and the hospital significant money.

Source: FierceHealthcare

MACRA: 64% of Providers Are Not Prepared

Healthcare providers and their IT professionals were polled to find out how prepared they were for the Medicare Access and CHIP Reauthorization Act (MACRA). The results? Sixty-four percent answered "unprepared" or "very unprepared". 

The purpose for the MACRA is "to improve the capabilities of operations, finance, sales and marketing, provider collaboration, medical management, and compliance," Gregory Scott, Vice Chairman, Deloitte LLP. Although the intentions may be agreeable, the infrastructure and logistics to carry out this new plan just don't exist. 

"A significant number of health plans simply don’t have the technology platforms and capabilities to meet existing and future CMS requirements in compliant, profitable, and predictable ways." - Gregory Scott, Vice Chairman, Deloitte LLP.

If you are looking for a place to start, the Fierce Healthcare article suggested beginning with the MACRA's required security risk assessment. In addition, healthcare systems need to begin awareness education among everyone, as well as comprehensive financial analysis at the top. 

Source: FierceHealthcare, Managed Healthcare Executive

Read last month's News to Know blog post here.