Becker's Hospital Review

Becker's Hospital Review April 2014

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Hospital Review April 2014 • Vol. 2014 No. 4 INDEX Table of Contents p. 6 Clinical Integration & ACOs p. 20 Financial Management p. 34 Transaction & Valuation Issues p. 54 Health Information Technology p. 62 CEO Roundtable: The Evolution of the C-Suite Two hospital and two health system CEOs discuss who is in their C-suites, how often they update their strategic plans and what has surprised them most in the planning process so far. p. 12 Are We Trading Happy Physicians for Efficient Ones? Healthcare reform is meant to make hospitals more efficient, but that is proving to have its costs. p. 20 How to Attract Health IT Staffers Who Could Work Anywhere Beyond salary, what can hospitals do to lure IT employees who could land a job almost anywhere? p. 62 The Google Approach: How Hospitals Can Create Cultures That Drive Employee Engagement, Satisfaction By Helen Adamopoulos Lego play stations, Broadway-themed conference rooms, gourmet cafeterias. These are just some of the employee perks that characterize Google's East Coast headquarters in New York City, according to a report from The New York Times. Post Your Price: It's Not So Simple for Hospital Executives By Bob Herman Last May, amidst the groundswell of support for price transparency in the healthcare system, Steve Sonen- reich did something almost no other hospital execu- tive had done. Mr. Sonenreich, president and CEO of Mount Sinai Medical Center, a teaching hospital in Miami Beach, Fla., pledged in a local radio interview to post the rates of what the hospital charges private health insurers. Under pressure to contain costs while simultaneously delivering higher- quality care, hospitals and health systems have been consolidating at a feverish pace in recent years. In 2012, more than $143.3 billion in healthcare mergers and acquisitions took place, one of the highest vol- umes recorded in a decade, accord- ing to a report from strategic advi- sory and investment banking firm Hammond Hanlon Camp. Reimbursement reductions along- side the shift to value-based pay- ments, among other factors, have financially strained smaller hospitals, which have joined forces with larger healthcare organizations in order to survive and thrive. The Patient Pro- tection and Affordable Care Act's call to coordinate care has also motivated providers to come together. Joe Lupica, chairman of Newpoint Healthcare Advisors, sees a change in the motivating factors: "In past years my speeches began with the premise that hospitals seek partners to con- trol costs and build fee-for-service volume," he says. "But that premise is already old-school; it's a cliché. Now our core thesis recognizes the reality of risk-based payment and the need for proactive care beyond the walls of our hospitals. These two factors demand larger and more diverse population portfolios and a better coordination of the care we deliver to our people." continued on page 36 continued on page 8 continued on page 54 Major Survey Findings From Hospital CFOs p. 34 10 Key Healthcare Transaction Trends By Helen Adamopoulos Becker's Hospital Review 5th Annual Meeting May 15-17, 2014 • Swissôtel • Chicago, Illinois For more information visit, www.BeckersHospitalReview.com and click on "Conferences." The Most Business- and Quality-Focused Meeting in the Hospital and Health System Arena 100+ sessions and 190+ speakers

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