Dr. Toby Cosgrove Highlights Cleveland Clinic's Strategy in Annual Address
In his "State of the Clinic" address Wednesday, Toby Cosgrove, MD, president and CEO of Cleveland Clinic, said his system has a duty to lead the country into the era of value-based healthcare, according to a Plain Dealer report.
In his presentation, Dr. Cosgrove introduced a task force of healthcare providers — called the Value-Based Care Team — who will develop strategies for the system to move from a fee-for-service to pay-for-performance model. So far, the team has developed a few solutions, such as the establishment of clinical care guidelines and the use of care coordinators to help patients navigate the Clinic and its services.
Dr. Cosgrove said the system will halt its international expansion plans until its 360-bed Abu Dhabi hospital is completed, which is expected in 2014. The new site will tap into a region that has established significant demand for Cleveland Clinic services: About 35 percent of international patient visits to Cleveland last year were from the Middle East, according to the report.
Cleveland Clinic still faces some challenges, such as its wait times and readmission rates, according to the report. Patients wait 13 days on average for an outpatient appointment, and that wait time has decreased by only one day since 2007. The system also has a goal of a 20 percent readmission rate for heart failure, but it is currently at 23 percent, according to the report.
"We are privileged to have a superior model of care delivery, financial stability and committed caregivers," Dr. Cosgrove said in his speech, according to the report. "Only a few organizations earn the opportunity to lead. We cannot and will not be deterred in our quest to achieve a new model of healthcare delivery for our patients, our country and the globe."
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