Becker's Hospital Review

October 2013

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50 of the Greenest Hospitals in America p. 76 INSIDE Rising Stars: 25 Healthcare Leaders Under 40 p. 16 Preparing for Health Exchanges: 14 Questions to Assess Your Organization's Readiness p. 72 How Ideas Become Innovations: Roundtable With Healthcare Innovation Leaders From UCLA, Ohio State p. 19 Learning From the Best: What HIM Looks Like at Geisinger, Intermountain p. 26 INDEX Executive Briefing: ValueBased Contracting p. 22 Special Focus on HIT & HIM p. 26 Clinical Integration & ACOs p. 28 Finance, Revenue Cycle & ICD-10 p. 30 Executive Briefing: ICD-10 p. 40 Hospital Transactions & Consolidation p. 60 Executive Briefing: PostAcute Care Strategy p. 63 Legal & Regulatory Issues p. 67 Executive Briefing: The Supply Chain as a Strategic Asset p. 69 Hospital Review October 2013 • Vol. 2013 No. 10 50 Things to Know About the Hospital Industry 5 Things the Most Innovative Health Systems Do Differently By Molly Gamble Steve Jobs, founder of Apple and one of the most creative leaders of our time, once told Forbes magazine his philosophy for innovation. "It's not about money," he said. "It's about the people you have, how you're led and how much you get it." All things being equal, Mr. Jobs' statement is hard to dispute. A significant portion of innovation does indeed boil down to whether an organization's culture is conducive to trial and error. But hospitals and health systems facing reimbursement pressures, value-based care penalties and rising labor costs may treat the ability to innovate as a luxury. continued on page 8 Market Matters: How Major Hospitals Mergers Have Avoided Antitrust Issues By Lindsey Dunn and Scott Becker, JD, CPA Hospitals and health systems in the U.S. are undergoing a dramatic shift in their business models due to a number of forces that are expected to eventually turn the industry on its head — from providers concerned with the volume of services they provide, to providers who focus on offering high-value services that emphasize keeping populations healthy. For those unfamiliar with this shifting industry, or those who simply want to know more, here are 50 facts and statistics about the hospital industry in 2013. 1. There are 5,724 hospitals in the U.S., according to the American Hospital Association.1 By Helen Adamopoulos The summer of 2013 was an eventful season for the for-profit hospital market. First, Dallas-based Tenet Healthcare Corp. agreed to buy Nashville, Tenn.-based Vanguard Health Systems in June in a transaction valued at $4.3 billion. Less than two months later, Franklin, Tenn.-based Community Health Systems gave the industry another mega-merger announcement when it revealed its planned acquisition of Naples, Fla.based Health Management Associates in a deal valued at $7.6 billion. continued on page 60 2. Of these, 2,903 hospitals are nonprofit and 1,025 are for-profit. Additionally, 1,045 are owned by state or local (county, hospital district) government entities.1 3. Of all hospitals in the U.S., 1,984, or 35 percent, serve rural communities and are considered rural hospitals.1 continued on page 10 Register Today! Becker's Hospital Review CEO Strategy Roundtable November 14, 2013 The Ritz-Carlton Chicago Co-chaired by Scott Becker, Publisher, Becker's Hospital Review, and Chuck Lauer, Former Publisher, Modern Healthcare To register, visit www.BeckersHospitalReview.com/ novhospitalevent.html, email registration@ beckershealthcare.com or call (800) 417-2035.

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