Financial Performance Track
Focusing on the fiscal health of your organization while meeting the demands for superior patient care remains a challenge. With new financial models, changes in the way payments are being made and stringent goals for reducing expenditures, financial decision makers face numerous critical decisions every day. Designed to target executives with direct responsibilities for financial management, contract negotiation and product pricing decisions, the sessions in this track will help you develop and implement financial strategies that will provide a positive impact on both patient experience and the bottom line.
1:00 pm – 2:15 pm Innovation in Financial Decision Making
National Ballroom B
Moderator: Bruce Carlson, Corporate Director, Material Management, Valley Health
Presenter: Cheryl Watkins-Knowles, Director of Purchasing, Supplier Diversity and Integration, Supply Chain, Palmetto Health and Tony
Benedict, Partner, Omicron Partners, LLC.
IDNs are searching for more effective methods of doing business across the board. The pressure to reduce costs and improve quality is at an all-time high. In order to make informed financial decisions, managers must have accurate and timely information and must know how to use it effectively.
This session will highlight a few of the increasingly complex decisions that face IDN financial decisions makers on a regular basis. Learn how to best evaluate and measure the potential benefits and pitfalls of insource vs. outsource, make vs. buy, and other types of sourcing dilemmas. A number of factors are considered when making these decisions, including the organization’s size, its location, patient needs, etc. Attention will also be given to the growing number of hybrid partnership models and how those models function.
Next the presenter will share information about the growing trend of using Value Analysis Teams to seek out opportunities for savings in the area of Purchased Services. Purchased Services are often the last area within an organization to receive Value Analysis scrutiny, but with C-Suite support, the opportunities for savings are significant. Discussion will center around methods of tracking savings, and how best to achieve value in the areas of quality, safety, cost and performance.
- Identify methods of innovation in financial decision making.
- Differentiate the types of financial decisions facing IDN executives in today’s healthcare landscape.
- Demonstrate knowledge of the role of Purchased Services Value Analysis Teams.
2:30 pm – 3:45 pm A LEAN Approach to Supply Chain Integration and Project Management
National Ballroom B
Moderator: Frank Cirillo, Vice President, Business Strategy, Greater New York Hospital Association (GNYHA) Ventures, Inc.
Presenters: Ann Marie Ferguson, Associate Director of Supply Chain Operations, NYU Langone Health System; Ritka Ghose, Senior
Consultant, Nexera, Inc; Kenneth Scher, Senior Manager, Nexera, Inc.; and Regine Villain, VP, Supply Chain Operations, NYU
Langone Health System.
Quality and efficiency are at the core of accountable care. This session will explore methods to utilize LEAN methodologies in order to simplify and streamline supply chain integration and project management. Adopting a LEAN approach means ensuring patient safety and quality of care by implementing strategies that focus on eliminating waste through the use of error-proofing processes such as checklists, increasing transparency in all transactions, and establishing collaborative relationships.
A team-based approach, LEAN emphasizes having a quick-response strategy in place for all eventualities. The presenters will discuss concepts, opportunities, methodologies and applications in the supply chain that will help you energize and revitalize your supply chain. Explore LEAN techniques that will enable you to find and fix problem areas, minimize transaction and productions costs, and manage risk. Focus will also be given to the successful alignment of supply chain operations and contracting practices in order to establish an effective, unified and consistent delivery of care with these new types of relationships.
- Identify strategies to implement LEAN approaches in order to reduce waste.
- Analyze the benefits of a team-based approach to supply chain integration.
- Outline the methods to create LEAN supplier networks.
4:00 pm – 5:15 pm Developing A Balanced Scorecard to Measure Organizational Performance
National Ballroom B
Moderator: Sean Poellnitz, Director, Contracting & Resource Utilization, CHRISTUS Health
Presenters: Ed Hardin, Senior Vice President Supply Chain Management, Beaumont Health and Dennis Mullins, Vice President of Supply
Chain Management, Indiana University Health.
The goals of healthcare organizations must be met amid complex settings where critical decisions are made every day and the needs of diverse groups of stakeholders must be taken into consideration. Within this unique setting, the connections between how goods and services can support the strategic goals of health care organizations need to be clearly demonstrated.
The Balanced Scorecard is an integrated performance management system that can link organizational strategy with specific activities. This method of establishing a “clear line of sight” between planning and action, combined with identifying the metrics that appropriately assess the results of those actions, can be invaluable for organizations. Specifically, a Balanced Scorecard approach enables suppliers to work more closely with healthcare organizations to integrate the value proposition of the offered goods and services into the activities already identified to help the organization reach its goals.
This session will address the ways the logistics of the Balanced Scorecard are applicable to healthcare organizations and what impact implementing this method might have on your system. Discover how your organization can adopt a structured evaluation framework to drive more effective purchasing decisions.
- Analyze the unique opportunities available through the use of the Balanced Scorecard.
- Describe a Balanced Scorecard and how it can connect strategy and action.
- Identify Balanced Scorecard strategies that work to enable suppliers to better present their services in ways that help healthcare organizations achieve their goals.