ADVANCE for Executive Insight 1 ADVANCE for Executive Insight

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CFO perspective James L. Starr is CFO, Lumeris, and Richard Jones is president and CEO, Essence Healthcare. In this emerging model, costs matter. But, long-term clinical results will matter more, because they are the key to lower costs. right by enabling value-driven decisions that have the right infrastructure, technology, patient-centric programs, and incentives to deliver high-quality, cost-effective care to your chosen population across the entire continuum of care. It is now recognized that the volume-driven, fee-for-service model is unsustainable. U.S. healthcare spending stands at $2.7 trillion. Our per capita spending – $8,500 per person every year – outstrips that of any other nation. The ROI is dismal: On average, Americans die sooner and experience higher rates of disease than people in other affluent countries. 1 These stunning comparisons are global. But the healthcare challenge is local. So is the opportunity. Consider your own market. Using the U.S. average, calculate what is spent locally. For example, in Philadelphia with a population of 4 million, healthcare represents a $36 billion market. What does this mean for your organization? intent and upfront investment in infrastructure, technology, culture and resources – but it also presents the best opportunity to achieve longterm financial stability. Building ROI in a Successful Accountable Care Model Accountable care is about getting healthcare Spending Calculations The number of potential patients is the starting point. Factor in the number of healthcare systems, provider groups and hospitals. Then calculate the ratio of primary care physicians to specialists, because PCPs are central to successful accountable care. The right combination of all participants sharing data transparently and seamlessly will create a “network effect” and amplify your results. Everyone benefits greatly when they are all connected in a network of healthcare providers and purchasers where incentives are aligned for overall success. This is the local opportunity. Seizing it requires a strategy that moves your organization from volume to value; from short-term cost management to long-term results. In this emerging model, costs matter. But, long-term clinical results will matter more, because they are the key to lower costs. Improved patient outcomes will drive the needed ROI for your healthcare system. thinkstock/istockphoto 22 ADVANCE for Executive Insight
WIN A KINDLE FIRE! COMPLETE OUR ONLINE SURVEY AND BE ENTERED TODAY! We’re giving away a Kindle Fire to one lucky person who completes our latest survey. We want to know what type of content you enjoy the most and how you prefer to access it. We’ll use your responses to shape how we cover the healthcare industry so you get more of the information you need. Take the survey by SEPTEMBER 13 for your chance to win. advanceweb.com/ReaderSurvey The information you provide will be kept completely confidential. One winner will be randomly selected and notified by September 27. ADVANCE for Executive Insight 23
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ADVANCE for Executive Insight 1 ADVANCE for Executive Insight

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