Becker's Hospital Review

Becker's Hospital Review April 2013 Issue

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Key Specialties Roundtable: What's in Store for Service Lines and Their Leaders in 2013? p. 20 INSIDE Supreme Court Sides With FTC in Phoebe Putney Case Hospital Review What the Decision Means for Future Hospital M&A p. 50 Transforming Healthcare A Conversation With Presence Health CEO Sandra Bruce & St. Joseph Health CEO Deborah Proctor p. 16 5 Things the Most Extraordinary Hospital CEOs Do p. 53 Strategic Physician Onboarding: 7 Tactics for Minimizing Losses on Employed Medical Practices p. 28 INDEX Physician-Hospital Relationships p. 28 Executive Briefing: Value-Based & Accountable Care p. 32 Finance & Revenue Cycle p. 36 Executive Briefing: Partnership Opportunities to Meet Reform's Demands p. 46 Transaction & Valuation Issues p. 50 Health Information Technology p. 52 Executive Briefing: Physician Engagement p. 55 April 2013 • Vol. 2013 No. 4 Is Bigger Always Better? Exploring the Risks of Health System Mega-Mergers 9 Ingenious Ways to Cut Costs at Your Hospital By Molly Gamble By Bob Herman One idea that has gained a significant amount of traction in the past few months is that of "Big Medicine." Brigham and Women's surgeon and writer Atul Gawande, MD, propelled the phrase in his New Yorker op-ed last summer, in which he drew analogies between American healthcare and The Cheesecake Factory restaurant chain. When it comes to the cost side of a hospital's financial equation, there are two rudimentary routes executives can explore. "Big chains thrive because they provide goods and services of greater variety, better quality and lower cost than would otherwise be available," Dr. Gawande wrote in the piece. "Size is the key. It gives them buying power, lets them centralize common functions and allows them continued on page 8 Is Center of Excellence Investment the Silver Bullet Healthcare Has Been Looking For? By Sabrina Rodak Healthcare leaders generally recognize that there is no "silver bullet" to any of the challenges the industry presents today — aligning with physicians, improving quality while lowering costs and differentiating oneself in an increasingly competitive market. However, continued on page 12 They can either find better ways to spend their money, or they can probe different areas of the hospital to see where costs and expenses can be trimmed. Several creative cost-cutting techniques have been detailed over the years — curbing food waste by weight, switching from bottled soda to fountain drinks, properly sorting hazardous from non-hazardous waste and more. However, as hospitals continue to evolve, new opportunities to save money are poking their heads to the surface. Here, several hospital leaders detail nine unique ways hospitals and health systems can cut costs to become a more financially stable organization — and many of them involve newer, progressive and "green" measures. 1. Rework shipping strategies. A component of hospital finances that may continued on page 36 REGISTER TODAY! Becker's Hospital Review Annual Meeting CEO Strategy, ACOs, Physician-Hospital Integration, Improving Profits and Key Specialties Co-Chaired by Chuck Lauer and Scott Becker May 9-11, 2013; Chicago Westin Michigan Avenue, Chicago For more information and to register, visit: www.beckershospitalreview.com/4th-annualbeckers-hospital-review-meeting.html

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