Posted in DefaultTag on Apr 13th, 2021 Comments
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.
President and CEO
Stanford Health Care
Vizient Research Institute
[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)