Everyone knows the cost curve in healthcare is unsustainable, so organizations should not get stuck in their old ways as things are going to change, says Gregory G. Wojtal, Arizona West Region Chief Financial Officer, Arizona Region, Banner Health. Healthcare reform is going to happen, even if it may not be exactly as prescribed in the ObamaCare program, he adds.
A speaker at the marcus evans National Healthcare CFO Summit Fall 2012, in Dallas, Texas, October 21-23, Wojtal discusses how healthcare Chief Financial Officers (CFOs) can help their organization drive better outcomes and be one step ahead of the game.
How could healthcare CFOs prepare their organization for reform?
First, healthcare CFOs must be knowledgeable about what is going on in the industry. There are plenty of education opportunities for understanding the different aspects involved.
Second, they need to take part in pilot programs. We are testing the waters with a number of pilots, to be a part of the innovation and involved in the development of some of the measures in healthcare reform. Participation in pilots is a critical element to understanding what the future of the industry may look like and how care delivery operations may be modified.
What steps could help hospitals take to drive better outcomes?
With healthcare reform, Medicare is dictating the quality of care. Organizations have to make the quality measures part of their fabric, incorporated in their strategic direction, in order to achieve better outcomes.
What innovation related to healthcare reform could you suggest?
We are a pioneer in Accountable Care Organization, with a separate corporation called Banner Health Network created to look at wellness and the outcomes associated with a well society, versus the traditional acute care setting. A whole transformation is taking place at Banner to treat population health.
How could healthcare CFOs maximize reimbursement and reduce costs?
Hospitals will become cost centers in the long run, so maximization is about being as efficient as possible, while achieving the quality indicators.
Cost-cutting is about supply management and productivity measures, going down to the basics and making sure every rock is overturned to find where opportunities lie, then having a consistent accountable approach to managing them.
Any final words of advice?
Everyone knows the cost curve in healthcare is unsustainable, so organizations should not get stuck in their old ways as things are going to change.
Contact: Jennifer Keljik, marketing manager, marcus evans, Summits Division
Tel: 312.540.3000 x6592
Email: [email protected]
About the National Healthcare CFO Summit Fall 2012
This unique forum will take place at The Westin Stonebriar, Dallas, Texas, October 21-23, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes presentations on increasing efficiency in an era of accountable care, growth strategies for today’s market, healthcare reforms and reinvigorating revenue cycle performance.
For more information, visit http://www.nhcfosummit.com/mnt_pr
About marcus evans Summits
marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.