Reducing healthcare costs is imperative in today’s reform environment. After you’ve exhausted traditional cost containment approaches, where do you turn? In this presentation, I share how to leverage quality and safety programs to not only improve patient outcomes, but to dramatically improve your organization’s financial performance.
Using examples from my own experience and case studies from top performing organizations, I review five ways leaders can improve their organizations financial performance using quality and safety programs.
Complications are a rich source of savings. On average, one complication increases the cost of care by $10,000. I show how to identify your organizations most common complications, which ones to select for improvement, and the savings from a typical Top 10 list, including a case study with over $30 million in savings.
We’re not paid for select readmissions today. In the future, it’s likely that we won’t be paid for any. I review the most common reasons for readmissions and how to prevent them, plus the savings that are at stake if we do nothing.
3. Performance Improvement
Toyota, Lean, and six sigma are all the rage in some organizations. But do they really save our organizations money? Using a series of case studies, I review the experience of several top healthcare organizations. The results, again in the millions of dollars will surprise you.
4. Medical Errors
Medical errors are devastating for patients and healthcare organizations alike. Eliminating errors can have a direct impact on costs and malpractice claims. I show how several organizations reduced their error rates by over 70%, the number of lives that we saved, and 8-figure savings in malpractice claims.
5. Pay for Performance Programs = Revenue
In some markets, pay-for-performance programs are anemic. In others, they are worth tens of millions of dollars. I review some cutting edge programs, the quality measures that they use, and how you can customize your pay-for-performance programs to increase your financial rewards.
I close with a case study highlighting how one organization benefited from all five approaches and saved in excess of $75 million.
This presentation is ideal for hospital and health system managers, directors, vice presidents, C-suite and physician leaders. I have spoken on this topic at board retreats and strategic planning sessions, to quality and safety leaders, groups of physician leaders, hospital CEOs, healthcare finance professionals, and a variety of administrative professionals.
This presentation is packaged as a keynote or workshop, 45 min to 90 minutes in length. The content will always be customized to get the outcomes your want to achieve.
Learning Objectives – Intended Outcomes
At the end of the presentation Participants will be able to:
- Identify improvements that have the largest financial impact – in three different categories – complications, readmissions, and error reduction.
- Calculate savings generated by quality and safety programs using a simple and effective model.
- Create a list of practical, actionable steps (a simple project plan) that can be implemented immediately.