Is the ‘Sharing Economy’ the Disrupter Healthcare Needs?

Tech startups pioneered the “sharing economy,” allowing people to repurpose their assets to provide a variety of goods and services, such as a shared car ride, bike or place to stay. It’s very beneficial to take this concept of sharing assets one step further and look at in the context of systemness and how sharing makes healthcare more efficient.

According to industry reports, equipment utilization in healthcare could be as low as 40 percent. What if instead of medical and surgical equipment being viewed as fixed assets that belong to a facility or even a specific hospital wing or operating room, forward-looking leaders examined ways to share equipment across growing networks, so those valuable assets aren’t sitting around underused?

Read More

Create New Organizational Structure to Successfully Reduce Costs

Annual cost reduction targets have most healthcare organizations scrambling. Despite concerted efforts, many internal cost reduction initiatives “fail to produce the level of savings required” as Liz Kirk writes in Healthcare Finance News.

Why is that? Many factors can contribute to the success or failure of an organization to achieve savings’ goals, but the most common mistake is not taking a holistic approach. Ms. Kirk contends that rather than a conventional cost reduction approach lead by the CFO, a successful initiative should include the financial and operational senior leaders, as well as support teams and cost leaders. The key is to effectively balance quality and patient satisfaction with savings.

Read More

How Will Recent Healthcare Legislation Disrupt How Labs Conduct Business?

Over the past couple of years, I have often written about the challenges confronting hospitals and health systems as a result of the Affordable Care Act. And now, new legislative changes in healthcare laws are impacting another segment of the healthcare supply chain: laboratories.

Two weeks ago in New Orleans, the 19th Annual Executive War College on Laboratory and Pathology Management brought together 800 clinical laboratory professionals and pathologists. One of the major topics covered was the legislation passed by Congress and recently signed into law by President Obama called “Protecting Access to Medicare Act of 2014” (PAMA). In his keynote address, Robert L. Michel, founder of the Executive War College, said that PAMA is the single biggest change to the clinical laboratory industry in more than 25 years.

Read More
Google+