For an industry that favors stability, healthcare has faced a number of major changes over the past several years and will continue to confront them in the immediate future, particularly as the push for improved quality, access, transparency and affordability continues.
In a panel discussion at the Becker's 5th Annual CEO + CFO Roundtable in Chicago moderated by Rhoda Weiss, PhD, a nationally recognized consultant, speaker and author, three healthcare executives discussed how they are meeting industry challenges. Here are the key takeaways from their discussion.
On meeting and staying ahead of changes in healthcare
Anthony "Tony" Slonim, MD, DrPH, president and CEO of Renown Health in Reno, Nev., said his organization's main focus is "how we are going to take the burden of care coordination off the family and patients and make sure we are seamlessly addressing their needs in and out of the hospital." He said his three-hospital system has been investing heavily in technology and staff to centralize care coordination through its population health management office.
Bruce Elegant, president and CEO of Rush Oak Park (Ill.) Hospital, said, "We have been really focused on quality and safety and working to be No. 1 across the local market and across the country." While Rush has put some focus on population health initiatives, it has taken a more cautious approach to its investments in that arena, following cues from its payers. "We are creatures of reimbursement," Mr. Elegant said. "If there is an 800-pound gorilla in your market telling you this is how I'm going to reimburse you, you really have no choice."
On forging strategic relationships rather than full asset mergers
Dan Michelson, CEO of Strata Decision Technology in Chicago, said market saturation will push affiliations and partnerships rather than mergers going forward. With an increasing portion of physicians becoming employed, "How much more can you buy?" he said about acquiring physician practices. "There's not enough inventory out there to buy like there used to be." Plus, many hospitals now see physician offices as cost centers, making them unwise acquisition material, he added.
Dr. Slonim said his organization realized a few years ago they would need to provide patients greater access to high-end tertiary care and sought out a partnership, rather than a merger, to rectify that need. "Given where we are positioned in the community, we knew we couldn't be everything to everybody," he said. Renown eventually chose to partner with Stanford (Calif.) Health Care and has been able to provide patients with access to the high-end specialty care the system lacked before while maintaining care coordination by sharing health records.
Mr. Elegant noted his hospital has put potential mergers on pause — along with the rest of the hospitals in the Chicago area — as it awaits a final verdict on the proposed merger between Downers Grove, Ill.-based Advocate Health Care and Evanston, Ill.-based NorthShore University HealthSystem. "It creates a lot of uncertainty," he said. "I'm not sure if they will proceed with it, but if they don't, everybody will start talking to everybody again." In the meantime, Rush Oak Park is focusing on its physician hospital organization and primary relationships with other hospitals in its market.
On patient engagement
Dr. Slonim said Renown Health has put an increased focus on engaging consumers who may already be healthy through an innovative partnership with 23andMe. Through a partnership with the DNA testing company, Renown was able to combine genetic data with 10 years of EMR data, environmental data, clinical data and socioeconomic data. It enrolled 10,000 patients in the first 36 hours it launched, blowing by its initial goals of 5,000 enrollees and clocking the fastest and largest clinical enrollment trial in the country, according to Dr. Slonim.
"It was an opportunity to engage people differently than they've ever been engaged before," he said. The secret? Providing patients with a personalized report in return for their participation with suggestions of how to modify behaviors and improve their health.
Mr. Elegant said Rush Oak Park has more of a "blocking and tackling" approach to patient engagement. It has leveraged the Epic MyChart feature to engage patients who want to see their test results and interact with the hospital digitally. It has also set standards for physicians who are part of its PHO that offices must be open on evenings and weekends to enhance access. "It becomes a rule of belonging to the organization," he said. The hospital is also doing outreach to patients who are frequently admitted to the ER to identify what, if any, social issues may be involved and to intervene when necessary.
Mr. Michelson said he feels there is one additional strategy many hospitals and health systems have overlooked when it comes to patient engagement: branding. "There is an enormous void in terms of brand and what consumers think of when they think of healthcare," he said. This presents an opportunity for healthcare organizations to go beyond provisions of service and other transactional opportunities and truly engage consumers.
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