Click here to close now.




















Welcome!

News Feed Item

C-Suite Executives Share Early Challenges of Healthcare Reform during 2014 MedAssets Healthcare Executive Forum

Attendees Cite Payor Mix Shift and Reimbursement Reductions as Primary Factors for Margin Decline Year over Year; Majority Engaged Already in Transformational Strategies

ATLANTA, Feb. 11, 2014 /PRNewswire/ -- Cost reduction and operational efficiency transformational strategies are the top priorities for health system C-suite executives early in 2014, according to recent polling conducted by MedAssets (NASDAQ:MDAS) at its annual Healthcare Executive Forum, held Jan. 30 to Feb. 1, 2014 in Scottsdale, Ariz.

(Logo:  http://photos.prnewswire.com/prnh/20140211/CL63179LOGO )

Fifty-five percent of the 150 attendees reported a decline in operating margins year over year in fiscal year 2013 as opposed to 26 percent in fiscal year 2012. The top reasons for the dramatic dip are attributed to shift in payor mix and reimbursement reduction.

According to the event polling, more than 75 percent of attendees indicated that their organization is engaged in transformational initiatives in the face of healthcare reform economic pressures. Nearly 60 percent of respondents cited they are experiencing declining Medicare reimbursements, managing the impacts of Medicaid expansion and state exchange enrollment, experiencing increased pressure from private payors and more regional competition.

"In this era of healthcare reform, sustaining financial and operational performance through traditional methods of increased volume and supply cost reduction are no longer adequate," said Barry Arbuckle, Ph.D., president and chief executive officer, MemorialCare Health System. "Providers need to engage in innovative strategies and collaboration to successfully integrate across the care continuum. MedAssets Healthcare Executive Forum provided the perfect platform for distinguished healthcare executives to gather and share proven transformational strategies."

The theme for the event, "Getting from Here to There," drew together healthcare executives to share perspectives on critical issues facing the healthcare industry and strategies for success to address the unprecedented challenges that lay ahead. Keynote speakers included: Trevor Fetter, president and CEO, Tenet Healthcare; Joel Allison, CEO, Baylor Scott & White Health; Robert Pryor, M.D., president, COO and CMO, Baylor Scott & White Health; and Joseph Swedish, CEO, Wellpoint. Attendees also heard from more than a dozen health system CEOs and CMOs on winning strategies for reform.

Clarity of Strategy and Execution Important Focus for Healthcare Transformation 
As healthcare leaders engage in organizational transformation, 71 percent of attendees stated that clarity of strategy and execution was critical for success. Additional key takeaways from the event include:

  • Eighty-nine percent of attendees reported their health systems will acquire and engage in non-hospital growth strategies over the next two years, up from 63 percent in 2013 
  • As hospital consolidation occurs, 43 percent of attendees thought that having a high quality, clinically integrated organization is the most successful growth strategy versus solely a strong geographical footprint
  • Over the past three to five years, 59 percent of attendees indicated that physician groups have been the most important partner, and 48 percent of attendees are confident this will remain the same in the next five years. Thirty-four percent of attendees, however, indicated insurance companies will emerge as the most important partner.

"Our industry is experiencing dynamic change, requiring providers to prepare for a new market where reimbursement is based on value vs. volume," said John Bardis, chairman, president and chief executive officer, MedAssets. "As the Affordable Care Act takes shape, providers need to transform their organizations into more cost effective, clinically aligned and efficient health systems."

About MemorialCare Health System
MemorialCare Health System is a not-for-profit integrated delivery system which includes six top hospitals – Long Beach Memorial Medical Center, Miller Children's Hospital Long Beach, Community Hospital Long Beach, Orange Coast Memorial Medical Center, Saddleback Memorial Medical Center in Laguna Hills and San Clemente; medical groups – MemorialCare Medical Group, Memorial Prompt Care; an Independent Practice Association (IPA) – Greater Newport Physicians; MemorialCare HealthExpress retail clinics; and numerous outpatient health centers throughout the Southland. For more information, please visit www.memorialcare.org.

About MedAssets
MedAssets (NASDAQ: MDAS) is a healthcare performance improvement company focused on helping providers realize financial and operational gains so that they can sustainably serve the needs of their community. More than 4,200 hospitals and 122,000 non-acute healthcare providers currently use the company's evidence-based solutions, best practice processes and analytics to help reduce the total cost of care, enhance operational efficiency, align clinical delivery, and improve revenue performance across the care continuum. For more information, please visit www.medassets.com.

Media Contact:

Robin Wrinn

678.624.7420

[email protected]


Investor Contact:

Robert Borchert

678.248.8194

[email protected]

MDAS/B

SOURCE MedAssets

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...