On May 24th, Ketul will serve on the keynote panel “Change Management in the Era of Disruption: Strategies for Executives” as well as the panel “How Does A System Assess Mergers and Affiliation Strategies? Why Should a System Pursue Mergers? Why Not? What Works Well? What Doesn’t?” at Becker’s Hospital Review 11th Annual Meeting. As part of an ongoing series, Becker’s is talking to healthcare leaders who plan to speak at the conference, which will take place on May 24-26, 2021 in Chicago.
To learn more about the conference and Ketul’s session, click here.
Question: How can hospitals reconcile the need to maintain inpatient volumes with the mission to keep people healthier and out of the hospital?
Ketul Patel: Hospitals have to reconcile with the reality that we need to continue the shift from a fee-for-service, transactional approach to patient care to a more holistic, value-based model that benefits individuals before they need our facilities. Hospitals will still be an essential part of the healthcare continuum, but we want people to receive care in the most appropriate and cost-effective setting for their needs. Inpatient volumes have long been the status quo in terms of assessing operating margin health, but we need to diversify and create new solutions to the care we provide. Managing the social determinants of health is the next goal for our industry and that will require a new mindset and competencies—heavier reliance on data, AI predictive analytics, and a more robust network of outpatient care and wellness resources. Part of our mission is to improve the health of our populations and that requires a change to our traditional operating models and investments in new resources that benefit our communities’ overall health.
Q: Where do you go for inspiration and fresh ideas?
KP: CommonSpirit Health is a mission-driven organization, and we have a rich legacy and heritage of founding women religious who developed many of our hospitals throughout the country. At CHI Franciscan, I am fortunate to work alongside members from our founding congregation, The Sisters of St. Francis. I am constantly inspired and motivated by our Sisters’ guiding principles and draw incredible insight and wisdom from them, which in turn not only improve my skills as an executive but also inspire me personally.
Q: What do you see as the most exciting opportunity in healthcare right now?
KP: Some of the most exciting opportunities occurring in healthcare are the new access points we are creating for our patients. We are seeing a proliferation in the virtual space and outpatient care settings. Consumers are demanding quicker, more convenient care options that fit their busy lifestyles and compare to their experiences with other industries—24/7 capabilities and exceptional service. At CHI Franciscan, we have a nationally recognized virtual health program that has grown from virtual urgent care to a robust suite of virtual care options. Within our system, we have expanded regional telemetry monitoring, virtual companion, virtual ICU, and virtual hospitalists. We have found that our patients and care teams benefit from the complementary services, resulting in higher satisfaction and outcomes.
Q: Healthcare has had calls for disruption, innovation and transformation for years now. Do you feel we are seeing that change? Why or why not?
KP: There has been a call for healthcare disruption for many years and while I feel we have gained some momentum we still have room for true innovation and transformation. I am encouraged by the advent of new technologies such as AI, predictive medicine, virtual health and telehealth platforms. At CHI Franciscan, we are the fifth in the world and first in our state to implement a mission control center with GE healthcare that uses real-time data to streamline the patient journey through our health system. We are seeing impressive results in the coordination and delivery of care, which ultimately helps our care teams and improves the experience of our patients.
Where do you go for inspiration and fresh ideas? Beckers, of course! In all seriousness, the conference speakers are the best in the industry and the sessions are relevant to leaders in hospitals both large and small. And I don’t have to look any further than my inbox daily for the most recent healthcare news and best practices.
What do you see as the most exciting opportunity in healthcare right now? The most exciting opportunity in healthcare today is the move to value-driven care with the patient at the center focusing on wellness and prevention instead of treating signs and symptoms with volume-driven sick visits and hospitalizations. Accountable care, the merit-based incentive payment system (MIPS) and value-based payment programs are driving providers from volume to value-based care with incentives to reward both the physician and the patient!
Healthcare has had calls for disruption, innovation and transformation for years now. Do you feel we are seeing that change? Why or why not? Yes, hospitals that are driving change and transformation are receiving high marks in quality and patient-satisfaction. They are investing in technology to coordinate care and making access easier for their patients. At the same time, they are educating and preparing their workforce to be responsive to innovative change. The age of volume-driven fee-for-service medicine is gradually giving way to value-based care. Hospitals must transform to become organizations that reward value instead of volume and develop delivery methods that use evidence-based practices, procedures and technologies to attain optimal outcomes and achieve greater efficiencies. Many primary care providers have heard the call for value and are joining ACO’s and working to meet this demand. Sadly hospitals that haven’t transformed to ensure the highest quality patient-centered care and the most competitive prices are being bypassed by the primary care physicians, the patients and the payers. “
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
