Page 76 - 914INC - Q1 - 2013

Q1 2013
SPECIAL ADVERTISING SECTION
Post-Election Healthcare: What Now?
ON MARCH 23, 2010, PRESIDENT BARACK OBAMA SIGNED COMPREHENSIVE HEALTH REFORM,
the Patient Protection and Affordable Care Act, into law. This law, and changes made to the law by subsequent legislation, focuses on provisions to expand coverage, control health care costs, and improve the health care delivery system.
How businesses will be affected by the implementation of new federal and state law is the subject of much discussion. In fact, health care is experiencing dramatic changes as provisions outlined in the Affordable Care Act go in to effect. Here, top administrators from local hospitals weigh in on the topic, explaining what compliance means for their respective institutions.
GREENWICH HOSPITAL Frank A. Corvino President and CEO
“Greenwich Hospital, as part of Yale New Haven Health System, has been preparing for the full impact of the Afford- able Care Act since the legislation was passed in 2010. If we can realize the promise of health-
care reform, millions more will have access to insurance in the United States. However, we are unsure how providers will be com- pensated for that care and there are growing pressures on all payers, including Medicare and Medicaid. So, while there are still many unknowns about how the ACA will be imple- mented, the one thing we do understand is that we will be paid less for what we do.
As a result, Greenwich Hospital and the Yale New Haven Health System have been working proactively to identify opportunities for cost savings and greater efficiency, while maintaining and enhancing the quality of patient care it provides. Indeed, being part of a larger healthcare system like Yale New Haven Health helps achieve economies of scale and helps identify best practices that improve not only the quality of patient care but also the operational efficiency of the organization.
We can seek better value and better outcomes by redesigning our clinical care
to ensure standardization and to adopt best practice from across our industry. We are using benchmarking data to understand our costs relative to outcomes. In 2012, Green- wich Hospital implemented a new electronic medical record system known as Epic that allows us to better drive quality and efficien- cies, and provides the patients we serve with information that they demand.
The good news here is that Greenwich Hospital is already operating very efficiently, having studied and improved many patient care and operations processes. By anticipat- ing the environment and taking proactive steps to drive value we are better positioning ourselves for the future.
The hospital’s operating efficiency has improved steadily in recent years, to the point where it has achieved strong operating mar- gins. This has not only allowed the hospital to reinvest in new patient care technology and facilities upgrades to support patient care, it also helps mitigate some of the potential loss of federal funding resulting from healthcare reform.
All this said, possible cutbacks in Medi- care reimbursements to hospitals and phy- sicians pose a serious threat, and we are keeping a very close eye on what’s going on at the state level - and preparing for it. Given Connecticut’s looming budget deficit, there is the potential that funding could be shifted away from hospitals via a reduction in Med- icaid reimbursements and other areas, so our efforts to drive efficiencies and lower our costs are essential.”
HUDSON VALLEY HOSPITAL CENTER Mark Webster
Chief Financial Officer
“What now is a very apt term for the post-elec- tion affects on health- care. We know that the Affordable Care Act will be implemented, but what that will mean to us as an employer and as a healthcare provider
remains to be defined.
Our view is that the net effect of the
changes will be that there is less money in the federal and state system. Enhancements in
coverage, rates, and covered lives have to be funded. We do not foresee a large increase
in the funds that the states or federal govern- ment have to spend, so, therefore, we believe that the amount we receive will decline. Not a huge facility closing or service cutting decline, but a do more with less decline.
We have been an economical healthcare provider, and plan to continue to be that way. Scrutinizing our expenditures to achieve the best economies has given us good returns
in the past, and we anticipate continuing that model. We hope to partner further with our physicians to be able to provide excellent care to our patients in the most efficient setting possible, and, to enhance patients’ healthcare continuum to improve their general health. We believe that, in this fashion, we can reduce healthcare expenses for our patients and increase their enjoyment of life, while allow- ing the healthcare institution to thrive under limited reimbursements for services provided.”
MONTIFIORE MEDICAL CENTER Steven M. Safyer, MD President and CEO
“Although many Ameri- cans are just beginning to experience changes to our healthcare sys- tem, Montefiore Medical Center has spent the last two decades embracing the need for innovation and serving as a catalyst
for healthcare reform. As an academic medi- cal center with superb clinical expertise and excellent patient outcomes, Montefiore laid a foundation for change long before the pas- sage of the Affordable Care Act (ACA).
Over the last 15 years, Montefiore devel- oped a successful model of care manage- ment built upon a network of physician part- ners and clinical sites throughout the com-
74