- Now more than ever, the healthcare industry is at a crossroads and the annual HIMSS Conference and Exhibition reflects that.
Healthcare spending is slated to increase at an annual rate of 5.5 percent over the next eight years as the Medicare population drastically increases and service prices continue to climb.
As healthcare slowly but surely grabs almost 20 percent of the economy by 2026, providers, payers, and other stakeholders are feeling the pressure to lower costs in the face of a changing healthcare landscape.
Declining reimbursement rates, value-based purchasing, and healthcare consumerism are challenging providers to realign their operations or face extinction. Failing to account for patients as payers or value-based care could mean the end of a hospital or practice, especially in light of recent healthcare merger and acquisition activity.
More than 40,000 healthcare professionals will head to sunny Orlando from February 11 to 15 to not only avoid arctic temperatures, but to also explore how their organizations can connect and learn from the best in the field.
Value-based care implementation, financial risk management, data analytics utilization, artificial intelligence adoption, and more will be trending at the major conference. But for healthcare finance professionals, healthcare consumerism and supply chain optimization will be the major buzzwords for the week.
Kicking off the healthcare consumerism discussion will be none other than CMS Administrator Seema Verma. The head of Medicare and Medicaid will share the stage with Former National Coordinator for Health IT and Consumer-Directed Exchange Advocate Karen DeSalvo, Leavitt Partners Founder Michael Leavitt, and CareJourney President Aneesh Chopra to answer the question, “Will Consumer-Directed Exchange Disrupt the Healthcare Marketplace?”
Giving patients, providers, and payers the right information at the right time has never been more vital for adapting to the changing healthcare landscape. In this opening keynote discussion, top industry experts plan to delve into consumer-directed exchange and patient-friendly technology adoption for care coordination.
CMS has been leading the charge lately with consumer-driven healthcare. The federal agency recently required hospitals to post a list of their standard charges online for patients to see and compare prices. Healthcare consumers can now also use an app to determine if Medicare covers specific medical items or services.
Verma will also join HHS Secretary Alex Azar the next day to share the federal government’s progress with several initiatives aimed at improving data interoperability and patient engagement.
Healthcare finance and revenue cycle professionals at HIMSS19 may also want to check out educational sessions geared toward healthcare consumerism.
On Monday, attendees will be able hear from the Chief Medical Officer of Humana in the session, “Modernizing Healthcare in Today’s Consumer-Based Economy.” Roy Beveridge will explore what providers and payers need to make the healthcare experience easier for clinicians and patients.
Later in the week, HIMSS registrants can connect with leaders from major provider organizations to learn how they are handling the healthcare consumerism trend. Moffit Cancer Center, Health First, and Penn Medicine will touch on topics such as patient financial responsibility, consumer behaviors, and call centers.
Additionally, attendees who love healthcare consumerism can spend their Valentine’s day participating in the HIMSS19 Consumerism of Health track. The day will have keynotes, sessions, and networking breaks for registrants looking to understand topics like retail healthcare, patient-centered technologies, and how to manage consumerism and the growth in the aging population.
While healthcare consumerism will attract finance professionals, health IT folks, payers, and physicians alike, revenue cycle and finance experts may want to pay the additional charge to partake in the “Clinically Integrated Supply Chain Symposium: The Missing Link to Value” track on Monday.
A clinically integrated supply chain is the key to unlocking value, industry experts agree. As providers attempt to reduce costs and improve quality under value-based purchasing and other health reform initiatives, getting the supply chain on board is vital to realizing financial and clinical results, especially in the face of worsening drug shortages and rising prescription drug costs.
Randy Bradley, CPHIMS, FHIMSS, PhD, Assistant Professor of Supply Chain Management at the University of Tennessee, College of Health Professions will start the HIMSS19 track. He will discuss how progressive healthcare organizations are tying patient-focused clinical data assets to logistical and purchasing operations.
Leaders from Duke University Medical Center, Intermountain Healthcare, and Mount Sinai Health System will also share their supply chain best practices throughout the day, exploring topics like securing the clinically-integrated supply chain, using data to drive value, and scaling the supply chain.
Attendees can also peruse general HIMSS19 sessions focused on the clinically-integrated supply chain.
For example, Kaiser Permanente’s Regional Assistant Medical Director of Performance Improvement Ronald K. Loo, MD, will share how the healthcare organization took a lesson from Uber, AirBnb, and TaskRabbit by sharing medical equipment across its facilities. The strategy identified $8.6 million in savings while also decreasing rental volumes by 64 percent.
Henry Ford Health System and Wake Forest Baptist Health will also available to discuss the use of real-time technologies in the supply chain. The panelists will share best practices for deploying and adopting technologies such as RTLS, BLE, and RFID.
HIMSS19 offers a wide range of keynotes, sessions, and specialized tracks for the gamut of healthcare professionals. Healthcare finance and revenue cycle professionals will not be disappointed by the conference’s offerings this year.