Tuesday Apr 13, 2021
David Entwistle, President and CEO Stanford Health Care (Part 2)
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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