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| Dennis R. Roemer, Chief Financial Officer, Lancaster General Health, a speaker at the marcus evans National Healthcare CFO Summit Spring 2014, on managing care in the current environment. |
LONDON, May 6, 2014 - (ACN Newswire) - "There is a tremendous amount of ambiguity in the healthcare environment today. Providers are trying to figure out how they can possibly maintain their margins, while trying to reduce utilization of their services and get healthcare to people at the right time and place," says Dennis R. Roemer, Chief Financial Officer, Lancaster General Health. "The mindset has to change. We all have to get more effective at managing care and profiting sufficiently to reinvest back into our business. We do not have a choice but to get into the game of population health management," he adds.
Roemer is a speaker at the marcus evans National Healthcare CFO Summit Spring 2014, in Palm Beach, Florida, May 18-20.
- Prepare for the future. Do not expect this era will dissipate or dissolve like the last time. Fully engage in identifying all the things required to be done, invested in or fixed, to prepare for a future where we are paid more for health management than healthcare delivery. Focus on Information Technology (IT) and electronic health record systems, physician integration, cost reduction, revenue cycle enhancement and physician leadership development.
- Engage with payers. Do rigorous financial modeling - with actuarial assistance - in evaluating prospective gain sharing or shared savings arrangements, or risk-sharing relationships, with payers or other infrastructure service providers.
- Business Intelligence. Work with your IT leadership to ensure there is a robust Business Intelligence team and claims data analytics to support population health management efforts e.g. identifying high-risk patients, gaps in care, etc.
- Change Management. Help build the organizational culture that supports change management and processing of decisions where there is greater ambiguity about potential effects of decisions and investments.
- Take a long-term view. Hard as it is, prepare multiple financial models of potential outcomes over the next four to six years under varying assumptions about degree of health management, pricing levels, market share/steerage, payer mix shifts, cost behaviors at increasing or decreasing utilization levels, additional administrative and infrastructure costs, and alternative shared savings and risk-sharing constructs.
- Invest. In IT, people and process redesign associated with improving the patient experience, patient access, containment and navigation, and information about the populations we will manage - in tiers (high-risk, potential high-risk, etc.)
- Develop win-win relationships. Determine the means (mergers, contractual affiliations, etc.) by which the organization can best achieve the scale necessary to generate greater efficiencies around cost management, and appropriate market leverage for developing win-win relationships with major payers or employers for shared savings or risk-sharing.
- Craft a roadmap. Map out a strategy for working with payers over a time horizon that maintains momentum and also has a manageable pace. Trying to do too much too quickly in transitioning from fee-for-service to fee-for-value could be chaotic or leave the organization in a place where deals have been struck but for which the leadership team is ill-prepared to manage and create a successful result. Work closely with the chief strategy officer, chief operating officer and chief population health management officer to craft the roadmap.
About the National Healthcare CFO Summit Spring 2014
The 19th National Healthcare CFO Summit is the premium forum bringing senior level finance executives and solution providers together. Taking place at the Eau Palm Beach Resort & Spa, Palm Beach, Florida, May 18-20, 2014, the Summit includes presentations on value-based purchasing, ACO implementation, managed care strategies and driving revenue cycle excellence.
For more information please send an email to info@marcusevanscy.com or visit the event website at www.nhcfosummit.com/DennisRRoemerInterview
marcus evans group - healthcare sector portal
www.marcusevans.com/reviews/healthcare
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
Topic: Trade Show or Conference
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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