Creating Financial Value Out of Quality

Episode Overview

When switching to value-based care contracts, alignment with the providers, physicians, payers, employers, and patients must exist through a model that benefits all. Health care providers must be strategic in selecting quality measures to track that identify areas to improve efficiencies and create real value.

On this episode of Value-Based Care Insights, host Daniel J. Marino and Dr. Jon Burroughs, President and CEO of Burroughs Healthcare Consulting Network, discuss where to start on tracking quality outcomes and how to align a provider organization around value.

Key points include:

  • There are preliminary steps that are required; first, the organization must create alignment across its leadership team so that everyone is excited about the direction.
  • Measure selection is key. Finding the right measures will carry the greatest weight, for example, they will lead to lower expenditures and increased revenue. 
  • To support the strategy, the financial impact must be quantitated  to understand earnings. Additionally, resources necessary to reach the goals must be considered.
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Integrating Social Determinants of Health in Care Management

Episode Overview

Social determinant of health (SDoH) factors have a great influence on the quality and care management of a population’s health. As technology advances to better capture SDoH factors, clinicians can explore new ways to integrate this data into clinical workflows to proactively identify patients at high risk for adverse outcomes – resulting in better quality care.

On this episode of Value-Based Care Insights, host Daniel J. Marino and Amy Valley, Vice President of Clinical Strategy and Technology Solutions at Cardinal Health, discuss the importance of incorporating social determinants into care management.


Key Takeaways:

  • There are five main categories of SDoH: medical, environmental, physical, behavioral and social. These factors create a proliferation of data that can be difficult for clinicians to manage, however, new technology aims to identify the signals of a potentially high-risk situation for a patient.
  • SDoH provide a perspective into health conditions - and incorporating these factors into clinical workflows help to proactively identify patients at risk for adverse outcomes.
  • The recent staffing shortages are forcing organizations to re-evaluate their approach to navigating care. Analytic platforms are a necessity to support care delivery. These tools have been proven to increase efficiencies and improve clinical outcomes.
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The Evolving Role of Telehealth

Episode Overview

Telehealth is poised to see continued growth as the health care industry experiences the benefits of telehealth models, specifically supporting patient care delivery and closing care gaps.

On this episode of Value-Based Care Insights, host Daniel J. Marino and Dr. Alan Kumar, Senior Vice President of Medical Affairs and Chief Medical Officer at Community Healthcare System, discuss the key factors for a successful rollout and how to increase adoption during the ongoing evolution of telehealth.

 
Key takeaways:
  • COVID forced health care organizations to adopt telehealth, and adopt it quickly. In the post-lockdown world, organizations are now looking at how they can continue to evolve telehealth. It is expected that the various telehealth platforms and EMR (electronic medical records) will continue to integrate the technology.  In the next five years, we will see the marketplace evolve to greatly improve operational efficiency.
  • The shift to telehealth has provided primary care providers the ability to identify care gaps that they can close during the telehealth visit; alerts pop up on the screen to help providers in real-time, which leads to better outcomes for the patient.
  • Large IT initiatives are expensive, complicated, and require buy-in. Adopters must be methodical, diligent, and patient with the approach. Converting to new telehealth models will take time and effort.

 

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Decoding Legalese of Value-Based Contracts

Episode Overview

As the health care industry shifts from fee-for-service to value-based arrangements, providers are facing a lot of challenges. A provider's relationship with payers is often strained by the new business model, and a provider's ability to collaborate with payers has never been more important.

On this episode of Value-Based Care Insights, host Daniel J. Marino and Hal Katz, an industry leader in health care law, discuss how providers can successfully navigate value-based contracting with payers in a mutually beneficial way.

 
Key takeaways:
  • Previously there has been a lack of relationship between providers and payers; and with the shift towards value-based care, it is vital for those relationships to improve  
  • Risk sharing requires the provider to agree to be responsible for a specific set of services and the costs associated with such services, which can include hitting certain performance measures. The elements need to be entered into the agreement otherwise there’s no obligation for the payer to honor those terms.
  • With all risk-based contracts, it key for providers to include protections.  Such as, for example, that the financial arrangement doesn't kick in until a minimum number of members assigned to the provider has been reached.  Also, if there is a change in that threshold for two consecutive months, the payment bumps back down to the traditional fee-for-service rate.
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Leadership Insights: Reflecting on the Past and Shaping the Future

Episode Overview

In this very exciting 50th episode of our  podcast, we discuss what we have learned over the past 49 episodes and revisit some of our most memorable moments. We reflect on the key insights we gained from speaking with so many industry experts and look forward to hearing more stories as we continue to glean insights and learn together. 
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No Surprise Act 2022: Ensuring Compliance

Episode Overview:

The No Surprise Act went into effect on January 1, 2022. It protects patients from out-of-network surprise bills. Health care organizations must comply with these regulations for emergency care, non-emergency care from out-of-network providers at in-network facilities, and air ambulance services from out-of-network providers.

In this episode of Value-Based Care Insights, Daniel J. Marino speaks to Shawn Stack of HFMA to share how health care systems can navigate the No Surprise Act.

  • Price transparency initiatives originally rolled out from a perspective of providers being transparent on their actual charges
  • One of the biggest drivers of higher costs is the structure of the Medicare fee schedule and reimbursement
  • As the No Surprise Act and Price Transparency Act is implemented, it will be important to give feedback to legislators and CMS on policies
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Emotional Intelligence: A Predictor for Leadership Performance

Episode Overview:

Highly effective leaders have a high Emotional Intelligence or Quotient (EQ), understand when to manage and when to lead, and know how to handle complex situations. Through two role plays, a good example and a bad example of EQ are presented in a medical practice between the medical director and a primary care provider.

In this episode of Value-Based Care Insights, Daniel J. Marino speaks to Lucy Zielinski of Lumina Health Partners and Dr. Cheri Olson of IPMA to share techniques to increase EQ and grow in leadership skills. Here are some key takeaways:

  • When delivering messages, it is important to practice active listening and ask for feedback.
  • Advance your EQ by taking self-assessments and getting a coach. 
  • EQ skills are not only inherent - they can be learned, practiced, and improved.
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The Health Care Workforce Challenge: Three Solutions that Work!

Episode Overview

The health care industry has long been challenged with workforce issues: high turnover, recruitment and retention, escalating wage growth, and low morale.  Health care executives and human resource leaders could not imagine these challenges getting much worse, then along came COVID-19. Now surveys across the industry are indicating workforce issues are the number one challenge facing many provider organizations.

In this podcast episode of Value-Based Care Insights, Daniel J. Marino speaks with John Malone to highlight the extent of the COVID-19 impact and example solutions that work to address workforce challenges. Key points include: 

  • The importance of empowering frontline supervisors and managers to decrease burnout, and improve retention and turnover with a sense of ownership and decision-making authority 
  • The standardization of workflows to move work processes down to the appropriate resources to address staff burnout and dissatisfaction
  • Tailored retention strategies based on key workforce metrics that are accurate and understood by management
  • The conscious awareness of a positive culture leading to a high-performing organization
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2022: Tackling Critical Health Care Challenges

Episode Overview:

The way health care providers connect with patients has changed significantly since the onset of COVID. With new challenges, having care models that are consumer-focused and convenience-based is critical more than ever before. The need for a strategic focus is paramount for organizations to successfully bounce back from COVID. 

In this episode of Value-Based Care Insights, Daniel J. Marino speaks with Bill Bodnar to discuss several challenges health care organizations are facing as they transition out of COVID. Bodnar shares his insights on new challenges, including workforce dynamics, non-traditional health care models, and the pursuit of value. Key points include: 

  • The competition among primary care providers and specialists with non-traditional providers, shifting to consumer-focused and convenience-based models 
  • The use of automation and other innovative solutions to address workforce burnout and employee retention
  • The advancement of population health management and value-based contracts to improve patient care and financial outcomes 
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Embracing Operational Effectiveness to Drive Performance

Episode Overview:

During the past 18 months, hospitals and health systems have focused on reducing expense mostly through FTE attrition. Many health systems and hospitals are at a point where reducing costs cannot come from reducing FTEs but must occur from other places.

High-performing healthcare organizations have focused not only on reducing costs through minimizing inefficiencies but maximizing revenues as well. Developing a culture of continuous improvement allows the organization to not only meet its clinical and financial goals but exceed them. High-performing organizations accomplish this by implementing Lean methodologies to eliminate waste, operate more efficiently and increase clinical outcomes with patients.

In this episode of Value-Based Care Insights, Daniel J. Marino speaks to Kate Geick of Lumina Health Partners to discuss how operational effectiveness through staff engagement and commitment can yield improved operational and financial performance. Here are some key takeaways:

  • You can have the best technology and technical solution, but without the role of people, you may not meet the outcomes you need. It is important to gain people's commitment and buy-in and have a positive culture and attitude in order to make any type of change. And not only that but to sustain them.
  • When people think of return on investment (ROI), they often think of just financial. But it is equally important to think about the satisfaction of the clinical, non-clinical staff as well as the patients.
  • Operational effectiveness may seem overwhelming – and leaders don’t know where to start. Starting with one small pilot may produce great value and result in process improvement, team engagement and positive financial performance.
  • With operational effectiveness, it is important to stay patient. Changes don’t just happen overnight. Be clear with what you are measuring and be consistent with how often you review them and be able to pivot when you need to.
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