Robert L. Meyer serves as President and Chief Executive Officer at Phoenix Children's.
On April 6th, Robert will serve on the Pediatric Leadership Forum panel "Unique Challenges Faced by Pediatric Leadership and What to Do About Them" 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 April 6-9, 2020 in Chicago.
To learn more about the conference and Robert's session, click here.
Question: What, if anything, should hospitals be doing now given economists' projections of a forthcoming economic downturn?
Robert Meyer: Be prepared, recessions occur. Economic contractions are painful for individuals and families, and healthcare providers need to ensure that care delivery does not suffer as a result of a financial downturn.
Now in the 11th year of expansion, the U.S. economy is vibrant, and that strength offers healthcare leaders the opportunity to strengthen their financial standing, invest in infrastructure and technology, deploy capital in positive yielding net-present-value projects and develop strategies to improve the cost and quality environment.
Healthcare demand is accelerating amid demographic and economic changes: When the next downturn arrives, health systems that can take proactive steps now will be better equipped to continue effectively serving their stakeholders.
Q: Where do you go for inspiration and fresh ideas?
RM: Without question, I turn to the incredible team that makes Phoenix Children’s one of the nation’s premier pediatric systems. Over the past decade, we have focused on developing and nurturing an entrepreneurial spirit that gives our staff the freedom to tackle new challenges, proactively solve complex problems and constantly implement ways to improve healthcare quality, manage costs and deliver exceptional outcomes. They are absolutely my source of inspiration and fresh thinking. I’m inspired by the spirit and passion the Phoenix Children’s team brings delivering outstanding pediatric care to patients and families.
Q: What do you see as the most exciting opportunity in healthcare right now?
RM: One of the biggest challenges in healthcare has always been how to deliver the best patient outcomes while managing the associated cost dynamic. As health leaders, we need to constantly improve on both fronts. Cost and quality need not be a binding dual constraint; health systems pursuing superior patient outcomes can innovate, create synergies and utilize organizational assets more efficiently. Improving care quality inside an architecture of cost containment opens up an entire sphere of untapped, enterprise-wide potential.
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?
DK: Absolutely! In just the last decade, innovation across the healthcare value chain has skyrocketed. Research and development, genomics, medical devices, life sciences, biomedicine and a plethora of other technologies, solutions and discoveries are transforming the healthcare space. For patients and their families, innovation means better health outcomes, whether it’s a life-saving surgery or a simple well-being check. Every patient is different, and innovation allows healthcare providers the tools to deliver exceptional outcomes for all patients: And innovation allows healthcare practitioners the tools to deliver exceptional outcomes.
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. "