Kurt Salmon’s Don Briones recently co-presented with representatives from Moss Adams on health care planning and construction in a new environment. Highlights from the webinar are below.
What insights were shared?
Given the new legislative, regulatory and payment environment, many organizations are taking a second look at their cost-containment strategies, with extra emphasis on clinical integration throughout the health care continuum.
But it is not enough just to review your strategy once and call it a day. Rather, in today’s highly fluid health care environment, health care executives should be reevaluating their organizational strategy more frequently—as it relates to growth and organizational positioning, clinical integration, and value-based strategies. This is necessary to remain relevant in today’s environment.
What resonated most with the audience?
There is a prevailing myth in the health care industry that a reduction in the number of in-patient hospital admissions over the next few years means that there will be a corresponding slowdown in traditional hospital facility projects.
The truth is anything but. A decrease in the number of in-patients doesn’t necessarily mean a reduction in the number of facility projects, but rather an extension of project scope. Hospital projects are shifting away from new site development and moving toward renovation and reconfiguration so that existing facilities become more convenient for patients. Flexible design will also be a key renovation component—having the ability to easily transform various parts of a hospital to accommodate fluctuations in volume and new hospital strategies will help providers move the value-based care needle.
What new thinking emerged?
Financing a facility project is about more than dollars and cents, especially in light of today’s rapidly evolving health care industry and the emphasis on value over volume. A smart financing plan should include a deep analysis of the hospital’s strategic plan and an assessment of how the organization is going to respond to future market changes, as well as what type of complementary services they’ll offer. This will inform the types of facilities and other major capital projects included in the financing plan.
To watch the webinar in full, click here.
1 June 2016