The Takeaway

the takeaway

Pursuing high performance: How leaders approach performance improvement

"You can't forget to celebrate the little victories. High performance is an ongoing journey, and it's important to pay attention to the wins along the way."

— Dr. David Levine, Vizient Chief Medical Officer

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During the session, Levine and Katerie Chapman, Vizient managing principal, high reliability, discussed key elements that bolster high performance. More specifically, they delved into the appropriate use of data and technology and the importance of system alignment in achieving top performance. The duo also emphasized what can sometimes go overlooked, including staff burnout and, as Levine mentions, celebrating even the small wins.

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the takeaway

ON THE HORIZON: PREPARING FOR CELL AND GENE THERAPY

"The novel therapeutic category of cell and gene therapy has the opportunity to provide life-changing results for patients and is accelerating faster than our ability to manage, deliver and ensure appropriate payment for them."

— Carina Dolan, Vizient AVP, Clinical Oncology, Pharmacoeconomics and Market Insights

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Dolan and Mary Tamargo, Vizient AVP, market insights and oncology, discussed strategies to prepare for the unique challenges presented by cell and gene therapies. Health systems will likely require adoption of new processes and frameworks such as a multidisciplinary health system approach that includes teams such as C-suite, pharmacy, physicians, nursing, managed care, revenue/finance, legal and more. Vizient now has a solution for health systems managing these therapies called the Vizient Cell and Gene Therapy Solution Network.

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the takeaway

Bold Strategies for Addressing Strategic Growth, Clinical Delivery Excellence and Financial Sustainability

“Before implementing a partnership, it’s important to prepare for operational readiness. For example, ensuring that your ambulatory surgical center has built-in quality processes around pre-operative and post-operative care to ensure the best patient outcomes.”

— Dr. Rick May, Vizient Senior Principal

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This panel discussion featuring Vizient experts and providers started with a five-year forecast on the financial health of healthcare organizations, which shows a 22% increase in hospital total expense per discharge with only a 10% increase in revenue growth for health systems since 2020. Labor costs continue to be a significant expense, and legacy hospital-based procedures are moving to alternative, lower-cost ambulatory sites. These trends require providers to implement bold ideas and build healthy cultures to address strategic growth, clinical delivery excellence and financial sustainability. One key strategy includes creating strategic partnerships to help address gaps that organizations can’t target on their own.

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the takeaway

Strategies for Building a Better Future: How to Integrate Sustainability and Diversity into Facility Growth and Expansion

"Have your end game in sight. Ensure that you partner with design and construction teams whose goals align with those of your organization and community."

— Theresa Brigden, Vizient Senior Principal, Indirect Spend

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In this session, Brigden — along with Shaleta Dunn Vick, Vizient VP, ESG Impact Spend — delved into the impact of sustainability Scopes 1, 2 and 3 and diversity Tier 1 and 2 spend on construction projects and how to achieve goals around these critical drivers to become a hospital of choice within the community. They also discussed how collaboration with suppliers is critical to success, along with practical guidance on how to work with the group purchasing organization to enhance buying power.

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the takeaway

Strategies for managing non-acute procedure profitability in PPI service lines

"It's important to implement operational and cost savings ideas that will help with overall non-acute ambulatory surgery profitability, while not losing sight of quality."

— Allen Passerallo, Vizient VP, Category Management - Orthopedics

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During the session, Vizient experts and supplier partners tackled the importance of standardized contracting, product utilization and operational solutions that lower costs and improve patient care. They also discussed the unique factors that influence financial outcomes in the nonacute setting, including margin compression, cost of goods, declining reimbursement and changes in the site of service for specific procedures.

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the takeaway

Mitigating risk and enhancing access: Effective supply assurance strategies

"It's essential that your organization has strategies in place for monitoring potential disruptions and limiting the effect they will have on your access to critical supplies."

— Katie Korte, Vizient VP, Assurance and Continuity

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Vizient and provider experts discussed how market insights, innovative contracting approaches and Vizient programs help ensure access, resilience and affordability of critical supplies and medications for providers and suppliers. The group also emphasized the role of proactive sourcing strategies and transparency for high-quality patient care.

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the takeaway

Developing a Systematic Approach to Measure Clinical Quality, Operational Performance and Strategic Growth

“Developing system alignment is different for every organization but should include a focus on leadership and culture, operating structure, data and analytics, and delivery systems.”

— Alison Wishnick, Vizient VP, Client Relations

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In this session, Wishnick and a team of experts from the University of Texas system described how a dynamic enterprise strategy that included standardizing the use of the Vizient Clinical Data Base and Operational Data Base across multiple locations led to better alignment, improved quality and lower costs.