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


[email protected]

Investor Contact:

Robert Borchert


[email protected]


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
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captu...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...