On May 25th, Stonish will serve on the panel “Defining Culture: How Does a Hospital or Health System’s Culture Affect the Patient Experience?” 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 Stonish’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?
Stonish Pierce: My belief is that there will always be hospitals and the need for associated beds with the most critically ill as inpatients, but the supply and demand of overall beds will be less in the future than it has been in the past if the industry truly evolves to value-based care and population health. Hospitals and systems will need to modify their portfolios based on community needs, population growth and demand to ensure the optimal number of acute care beds, ambulatory sites, care management, and community-related services to prevent the need for acute care in the first place. Forward-thinking systems are already planning for declines in inpatient utilization that we’ve witnessed over the last several years while instead investing in lower-cost ambulatory care sites and designing programs aligned with community health needs assessments.
Q: What’s one lesson you learned early in your career that has helped you lead in healthcare?
SP: A mentor once told me to be “flexible” in growing my knowledge base and advancing my career. As I’ve served as a preceptor in the past and continue to interface with early careerists, I regularly share this same sentiment. First, be flexible regarding professional assignments recommended by supervising and/or senior leaders. Obviously, make sure the assignments are value-added, consider the bigger picture and associated learning opportunity and while there may be opportunities that are not ideal, think twice before saying no. Second, as conditions permit be flexible geographically for professional opportunities that arise to advance your career. When you’re able to expand your geographic preferences and comfort zone, there are numerous opportunities nationally. Consider opportunities with reporting leaders that will invest the time and energy into your development, provide you with challenging assignments, ensure appropriate system exposure and have a vested interest in your career. Lastly, as the industry continues to evolve be open to non-traditional roles and opportunities directly outside of the traditional health system.
Q: Where do you go for inspiration and fresh ideas?
SP: There are a number of resources and venues I regularly turn to for inspiration, including, but not limited to: ACHE Congress, Becker’s Healthcare (conferences, podcasts), Healthcare Executive magazine, LinkedIn, The Wall Street Journal, The Advisory Board, SG2 and networking with colleagues from across the country. I’ve been fortunate to remain involved in professional organizations, remain in contact with fellow USC alumni and countless leaders whom I’ve worked with in the past, all of which have been vital in providing me with a national network of colleagues to tap into for best practices.
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?
SP: Yes, I do believe we’re seeing disruption and innovation with several non-traditional companies entering the healthcare industry. Although we’re witnessing some change already, I would argue that we’re far from the end with the potential that technology and innovation can make to reimagining the delivery of care. A number of these non-traditional companies have optimized the customer experience in many aspects in other industries and are now embarking upon addressing the Triple Aim of cost, quality, and access that many traditional providers haven’t fully maximized over the years. We’ve seen the GDP related to healthcare continue to increase over the last two decades and if the health care industry weren’t ripe for change and have further potential to address the cost curve then I don’t believe you’d be seeing the foray of non-traditional entrants and investor-related capital backing them to fund innovation and change.
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.
