In this special Speaker Series, Becker's Healthcare caught up with Bonnie Phipps, a certified public account and board member at Thorek Memorial Hospital in Chicago.
Ms. Phipps will speak on a panel during the Becker's Hospital Review 4th Annual Health IT + Revenue Cycle Conference that is titled "Connecting Quality, Finance, and Analytics to Deliver Value Across the Continuum," at 9:45 a.m. Friday, Sept. 21. Learn more about the event and register to attend in Chicago.
Question: Can you share your best advice for motivating your teams?
Bonnie Phipps: Forming a team has to be the first step to building a highly performing group. This can be best accomplished by reaching a level of trust through a team-building exercise that allows the members of the team to identify strengths and weaknesses in [other] members so they can support each other. Doing that also allows the leader to recruit for any "missing" capabilities to complete the team. Respect from the leader for the capabilities of the team members is a requirement, too. Sometimes, some coaching may be helpful. Teams work best when they have been "formed" and they are given clear, quantifiable goals based on a strong strategic plan with some goals shared for the group and some individual goals based on their [unique operational] areas.
Q: What is your No. 1 dealbreaker when it comes to evaluating vendor partnerships?
BP: Vendors always put their best foot forward, so doing in-depth due diligence is a must. Vendors should be willing to give you a listing of all of their clients and allow you to select which ones to contact, or you should be wary of the validity of the reference. Also, I would never be an alpha or even a beta site. My motto is "learn on someone else!"
Q: What is the biggest barrier to price transparency in the healthcare industry?
BP: The biggest barrier to price transparency in healthcare is the fact that the charge master has no relationship to how providers are actually paid. Many providers can estimate the cost of procedures if the patient calls and shares insurance coverage information, but deductibles and copays may still cause a variance. Hospital payment systems — like the all-payer system in Maryland — make is easier, though rates vary based on relationships to the Global Budget Revenue.