HSS CEO Lou Shapiro: System's 'value' is more than just financial worth

New York City-based Hospital for Special Surgery President and CEO Lou Shapiro spoke with Forbes contributor Robert Reiss about the system's care model and how a hospital or health system's value is more than just its financial worth.

Mr. Shapiro said one of the keys to HSS' longevity and success as a system is the understanding that a hospital's "value" is more than just its financial success, and involves focusing on the quality of care provided to each patient.

"At HSS we understand that 'value' as more than just financial. Value means the best possible outcomes with the lowest possible impact on the bottom line, including time and performance that is unnecessarily lost. That value happens at HSS by developing an individualized plan for each patient before they become a patient, ensuring the most efficient patient care pathways to avoid unnecessary care and costs. It's measured also in improved quality of life long after patients have recovered," he said.

"As the industry continues to grapple with issues like rising costs and an aging population, providers must come to recognize that better is better, and better quality is a key strategy to improving efficiency and cost," he added.

Another aspect of HSS' business model is its various partnerships with community organizations and other healthcare providers, Mr. Shapiro said.

"Partnership collaborations are among the important ways we are scaling HSS value delivery and impact," he said. "Whatever industry you're in — whether you're an employer, a provider or a patient — it is incumbent upon all of us to enhance value in healthcare and improve outcomes wherever possible."

"It is important for HSS to harness our knowledge to promote healthy, lifelong lifestyles, and it is both our responsibility and our privilege to drive healthcare innovation to ultimately serve increasingly broader populations," he added.

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