Archive for April 2021

Tom Robertson, Executive Director of the Vizient Research Institute sits down with Stanford’s president and CEO, David Entwistle for a second time. Tom and David shift from operations to health care finance and contemplate how things may change in the future.

 

Guest speaker:

David Entwistle

President and CEO

Stanford Health Care

 

Moderator:

Tom Robertson

Executive Director

Vizient Research Institute

 

Show Notes:

[01:16] Group practices with a collection of specialists that provide a one stop shop that considers the whole patient

[02:09] Group specialty practices help you to remain competitive, manage care and costs

[03:44] One of the biggest cost drivers is the variation of care  

[04:24] The ability to reduce the avoidable variation will help reduce costs

[04:37] Creating transparency of the variation data is monumental. Show physicians how they treated the same patient with the same diagnosis

[05:15] Have to look at large data sets to show a true variation difference that’s controllable to create a better-quality experience and lower costs

[05:32] To make movement in variation, you can’t just go after the costs. You have to show it’s a better outcome and start with quality or it won’t be successful.

[06:47] To make the change, you have to ask how do you create the best outcome? Once you apply the data to the outcome, then the costs come down.

[07:24] Scenario: if all-payers pay the same. How would you think differently – operationally and strategically?

[08:42] All patients are treated equally. It wouldn’t change anything operationally.

[09:30] Strategically: Think how much we spend to be attractive to commercial insurance companies that are funding the private to public payer subsidy, there are nuances that collectively make a difference.

[10:00] Margins produced in academics are different because they are funding research and teaching.

[11:46] Examples of how career paths are evolving today

 

Links | Resources:

David Entwistle’s biographical description  (Click Here)

 

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Tom Robertson, Executive Director of the Vizient Research Institute sits down with David Entwistle, President and CEO of Stanford Health, to discuss lessons learned during the global pandemic. David describes Stanford’s new inpatient facility, with a particular emphasis on the use of emerging technology to improve the patient’s experience while realizing economic efficiencies.

 

Guest speaker:

David Entwistle

President and CEO

Stanford Health Care

 

Moderator:

Tom Robertson

Executive Director

Vizient Research Institute

 

Show Notes:

[02:29] Stanford Health Care recipient of 2020 Gartner Eye on Innovation Award for technological advances

[03:15] The most technologically sophisticated hospital in the world

[03:50] Hospital has flexibility to change with technological advances

[04:17] Possible to have 10,000 devices stream with 4K video

[04:45] EMR can facilitate a real time e-consult with the patient in the hospital bed

[05:17] Robots to pick, fill and verify pharmaceutical doses

[06:00] It’s the people who built the inspirational, flexible facility

[06:43] 5,000 locator beacons will use EMR information and will text patient while they’re in the building about their appointments, location and check in

[08:00] Texting platform for nurses and doctors to communicate

[10:40] Virtual technology

[11:19] During height of the pandemic, 70% were virtual visits.  96% providers provided virtual visits.

[11:45] 90% of all pathology is being done digitally

[12:10] Using virtual visits for reconnaissance

[16:00] What would David Entwistle want to change in health care overall? 

[17:06] Technology example: using wearable algorithms to track and monitor patients to determine likelihood they would contract COVID disease

[17:35] Predicted 4 days earlier that an individual would likely contract COVID

[18:10] Why not use the technology to enable the care platform for individual providers?

[19:13] Hope to create a consumer-oriented experience

[23:15] Possibilities of using technology to track patient’s real time health

[25:00] Using medical database to evaluate treatment probabilities for individual patient

[28:50] Using technology of recognition of facial patterns and eye movement to predict patient’s pain level in ICU

 

Links | Resources:

Gartner Press Release: Winners of the 2020 Gartner Healthcare and Life Sciences Eye on Innovation Award Click here

David Entwistle’s biographical description Click here

 

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