Date published: November 1, 2010
HFMA Retreat Focuses on Value
Within five years, value will be a key factor in hospitals' financial success, accordingto 80 percent of hospital executives at HFMA's fourth-annual thought leadership retreat, "Payment Reform: Focus on Value to Succeed." Many in attendance attributed the growing importance of value to reform measures and the need to eliminate waste and duplication in poorly coordinated fee-for-service efforts.
HFMA's thought leadership retreat, held Oct. 7-8 in Washington, D.C, featured top experts on healthcare value. HFMA convened the invitationonly event as a means of gauging industry percep - tions on value of care and sharing insights on ways hospitals are identifying quality metrics, costing clinical and operational initiatives that drive value, and defining organizational roles around value efforts, particularly the CFO. Sponsors were 3M Health Information Systems, McKesson/ RelayHealth, and Kaufman, Hall and Associates.
"We can't wait too long to determine strategy for a value-based environment, or we will be in an incredibly unstable position," noted keynote speaker Jonathan Perlin, MD, PhD, president, clinical services, and chief medical officer, HCA.
To help hospitals during this transition, HFMA has begun a new initiative designed to identify ways healthcare organizations can enhance quality and drive down costs. Called HFMA's Value Project, the initiative will identify critical areas where quality and cost intersect, metrics for measuring performance related to this intersection, and processes to measure and enhance value of care. Insights from the thought leadership retreat will feed into ongoing efforts of HFMA's Value Advisory Council.
Keynote Speakers Named for HFMA Conference on Value
Three thought leaders will provide expert direction and from-the-trenches strategies for improving value in health care during HFMA's "The Leadership Conference on Value: Delivering Accountable Care." The conference, to be held March 3i-April 1, 3011, in Chicago, will feature the following keynote speakers:
* Paul Keckley, PhD, executive director, Deloitte Center for Health Solutions. Keckley's topics will be "Defining Value in the Health Care Industry. "He will discuss how the industry will adapt to the "new normal," make progress toward providing high-quality, evidence-based care while controlling costs, and adjust long-term strategies to achieve the imperative of providing greater value.
* Lee Sacks, MD, executive vice president and chief medical officer, Advocate Health Care. Sacks will present "The Advocate Health Care Value Report on Integration, " highlighting the key results of Advocate Physician Partners' clinical integration program, which is nationally recognized for driving targeted improvements in quality and efficiency.
* Richard L. Clarke, DHA, FHFMA, president and CEO, HFMA. Clarke will present findings of HFMA's Value Project, a new HFMA initiative designed to identify ways that healthcare organizations can drive down costs and enhance quality and provide the tools to support these efforts.
For more information, visitwww.hfma.org. ·