Addressing the Issue of Cost in Healthcare - Jonathan Lauer, Managing Partner, the Healthcare Performance Alliance
Jonathan Lauer of the Healthcare Performance Alliance, a solution provider at the marcus evans National Healthcare CXO Summit Spring 2013, on approaching cost reduction in a sustained and effective way. Interview with: Jonathan Lauer, Managing Partner, the Healthcare Performance Alliance
Published on: Mar 3, 2016
Transcripts - Addressing the Issue of Cost in Healthcare - Jonathan Lauer, Managing Partner, the Healthcare Performance Alliance
Addressing the Issue of Cost in Healthcare data-driven insight that enables you to With President Obama re-elected, recognize waste which can be cut what changes should healthcare without damage to the organization‟s organizations expect? performance. Effective cost reduction is not an exercise in shared sacrifice, but a Healthcare spending in the US is 18 per healthy elimination of waste, which cent of GDP and climbing. This is 50 per exists in many forms. cent higher than the #2 nation. This is becoming a massive competitive For example, the EPA estimates that 30 disadvantage for the country, taking per cent of the energy consumed in money out of the pockets of both commercial buildings is wasted. This families and businesses. Bringing represents a great opportunity to reduce spending down by reducing waste costs painlessly, but it requires should be a top priority for everyInterview with: Jonathan Lauer, uncommon skills to achieve. Another stakeholder in the healthcare industry.Managing Partner, the Healthcare large area of opportunity is sourcing. The key is to gain the insight needed toPerformance Alliance Many organizations conclude that their do it right and to take decisive action. GPO contracts ensure that their costs for supplies, equipment and purchasedWith US healthcare spending continuing services are competitive, yet we Effectiveto outpace inflation, bringing spending consistently find hard dollar savings indown is a priority for healthcare excess of 15 per cent across allorganizations, according to Jonathan categories of vendor spending, including costLauer, Managing Partner, the those with GPO contracts in place.Healthcare Performance Alliance.“But long term cost reduction requires Achieving these kinds of savings is not reductionsustained effort and focus. easy, but with the right data, skills, andOpportunities to reduce spending are accountability it can be done withouteverywhere, but to execute effectively pain or risk to the organization. It took is not anover time, organizations need people decades for our cost problem to reachwi t h t h e r i gh t s ki l l s an d tr ue this point. It will require a sustained,accountability,” he adds. data-driven effort to solve it. The tech exercise industry is known for providingThe Healthcare Performance Alliance is customers more for less every year.a solution provider attending the Healthcare needs such a mindset. in sharedupcoming marcus evans NationalHealthcare CXO Summit Spring How can they improve their net2013 in Palm Beach, Florida, April revenue? sacrifice,15-17. Ahead of the event, Lauer shareshis ideas on how healthcare CEOs and So-called “big data” is a hot area inCFOs can improve their organization‟s many industries today and healthcare is but a healthybottom line through cost reduction and no exception. Hospitals can leverage therevenue improvement. power of their own data to optimize revenue. With the huge trove of data eliminationWith hospital operating costs that is accumulated in the billing systemconstantly increasing, where can every day and some mathematicalhospitals find cost reduction analytics, hospitals can optimize both of wasteopportunities? pricing and charge capture to extract the maximum possible revenue fromThere are opportunities in the supply their current patient and payor mix. Forchain, purchased services and labor, but mid-size and larger hospitals, this workmany organizations have already found has an incredibly high ratio of benefit tothe easy savings. The key is to have the internal effort.
About the National Healthcare CXO Summit Spring 2013 The marcus evans Summits This unique forum will take place at the Ritz-Carlton, Palm Beach, Florida, April groups deliver peer-to-peer 15-17, 2013. Offering much more than any conference, exhibition or trade show, information on strategic matters, this exclusive meeting will bring together esteemed industry thought leaders and professional trends and solution providers to a highly focused and interactive networking event. breakthrough innovations. www.nhcxosummit.com Please note that the Summit is a Contact closed business event and the number of participants strictly Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits limited. Division Tel: + 357 22 849 313 Email: firstname.lastname@example.org For more information please send an email to email@example.com All rights reserved. The above content may be republished or reproduced. Kindly inform us by sending an email to firstname.lastname@example.orgAbout the Healthcare Performance AllianceHPA is an organization of boutique consulting firms – specialists with unique expertise built over decades of work with hundreds ofclients. We identify and implement sustained improvements in hard costs and net revenues. Emphasizing high impact, lowdisruption changes and a „pay-for-performance‟ approach, we deploy best practices learned from within and outside healthcare.Focus areas include sourcing, energy conservation, and revenue cycle analytics.www.healthcareperformancealliance.comAbout marcus evans Summitsmarcus evans Summits are high level business forums for the world‟s leading decision-makers to meet, learn and discussstrategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity toindividually tailor their schedules of keynote presentations, think tanks, seminars and one-on-one business meetings.For more information, please visit: www.marcusevans.comUpcoming EventsLong-Term Care CXO Summit - www.longtermcaresummit.comNational Healthcare CNO Summit - www.nhcnosummit.comNational Healthcare CFO Summit - www.nhcfosummit.comTo view the web version, please click here: www.nhcxosummit.com/JonathanLauer