This morning, Cleveland Clinic CEO Toby Cosgrove, MD, delivered his annual "State of the Clinic" address. More than 500 Cleveland Clinic employees were in attendance at the InterContinental Hotel in Cleveland, and the speech was streamed live throughout the Clinic's 44 locations, including Abu Dhabi, Florida and Toronto.
According to a Cleveland.com report, Dr. Cosgrove's address emphasized the system's financial health, along with the impact changes in healthcare have on the need to improve patient care delivery and cost effectiveness.
"We'll be looking at efficiencies in all sorts of areas," Dr. Cosgrove said to the more than 500 employees in attendance. "By standardizing care, we then reduce the number of variations and the number of complications, and that reduces the cost of care."
Below are key takeaways from Dr. Cosgrove's address, according to the report.
1. Transparency continues to challenge. A "major sense of anxiety" — largely spurred by impacts of healthcare reform — is endemic in healthcare, and the Cleveland Clinic is not immune, Dr. Cosgrove said. Some of these impacts include changing models of hospital reimbursement, the need for increased transparency and an emphasis on patient outcomes.
Dr. Cosgrove acknowledged this sense of anxiety — even denial and anger — have been present in the Cleveland Clinic, but stressed the need to overcome these negative reactions and implement the various changes.
"Happily, we're among the leaders of transparency," Dr. Cosgrove said. According to the report, the Clinic annually reports nearly 115 quality measures to the federal government, which is 105 more measures than a decade ago.
However, Dr. Cosgrove stressed in speech the importance of prioritizing the prevention of hospital-acquired infections in the coming year, along with reducing readmissions and moving toward 100 percent hand washing compliance for employees, according to the report.
2. The Cleveland Clinic has experienced increased patient volumes. Visits to the Clinic's family health centers increased by 10 percent in 2014, according to the report. Outpatient visits in Cleveland and Florida increased by 6 percent and same-day visits increased by 22 percent, for the first time hitting more than 1 million visits.
3. Cleveland Clinic research is making strides. Even with a 5 percent funding cut from the National Institutes of Health in 2014, the Clinic has increased its own financial support for research, according to the report.
Dr. Cosgrove used a video to showcase the work of several researchers at the Clinic's Lerner Research Institute, and announced the recipient of the 2014 Sones Innovation Award: Irene Katzan, MD, director of the Neurological Institute Center for Outcomes Research and Evaluation at the Clinic. Dr. Katzan won the award for the creation of the Knowledge Program, which improves the gathering and utilization of EMRs.
4. The Clinic is expanding at home and abroad. According to the report, Dr. Cosgrove told the audience Cleveland Clinic Abu Dhabi in the United Arab Emirates is complete, boasting nearly 3,000 employees, including 175 physicians and more than 1,000 nurses and health professionals. The hospital expects to see its first patients later this year.
Dr. Cosgrove also discussed the emergence of HealthSpot — a telehealth company Cleveland Clinic has a joint venture with — in drug stores, universities and pharmacies throughout the region. HealthSpot — virtual walk-in kiosks equipped with touchscreens, integrated medical devices, videoconference capabilities and an onsite accredited medical assistant — aims to offer convenient, alternative options to access healthcare.
In February, Cleveland Clinic Florida opened a five-story, $90 million facility that holds new neurological and cancer centers, according to the report.
"We're moving gradually toward providing access anytime, anywhere," Dr. Cosgrove said.