Regina Herzlinger: Why it is important to champion innovation in healthcare
Regina Herzlinger, Nancy R. McPherson Professor of Business Administration at the Harvard Business School, emphasizes the importance of education in promoting innovation in healthcare. She highlights the need for healthcare organizations to consider the six exogenous forces of innovation, including competition, financing, technology, accountability, public policy, and consumer ratings. She also stresses the need for healthcare organizations to have a portfolio of revenue and supply sources, and the potential for technology to improve healthcare technology. Additionally, Herzlinger argues that education is crucial for sustaining innovation, particularly in the areas of technology, cost control, and consumer involvement.
Annual Conference Day 2: Keynote speaker Suneel Gupta expounds on the importance of recharging
Rest and breaks from work should be viewed not as a reward, but as a resource that supports performance, Suneel Gupta, wellness CEO, best-selling author and visiting scholar with Harvard Medical School, told HFMA Annual Conference attendees during Tuesday’s keynote presentation in Las Vegas. “When we look at the science behind human performance, what we…
Closures of Walmart’s health centers reflect the widespread financial constraints in U.S. healthcare
Beyond signaling a setback for retail-based healthcare disruptors, Walmart’s recent decision to close its health centers is symptomatic of issues hampering the nation’s ecosystem for primary care, industry analysts say. The retail behemoth announced April 30 it would be closing all 51 of its health centers across five states, along with its virtual-health service. Five…
Robert Rebitzer: How to overcome the disruptive forces that can impede high-value innovation
In the 1980s, two valuable innovations, laparoscopic gallbladder surgery and electronic health records (EHRs), came to market. The former became widely adopted in about three years. The latter took three decades and billions of dollars in federal subsidies. The reasons behind the differing uptakes of health innovation are among the topics in the book Why…
A ‘magic equation’ to unlock OR revenue
This whitepaper offers healthcare leaders a roadmap to identify operating room (OR) inefficiencies and address them using a "magic equation" of artificial intelligence, automation and change management.
Susan Dentzer: Why we have reached a tipping point on pharmaceutical spending
Author Malcolm Gladwell famously wrote in a 2000 book about the phenomenon of tipping points — those moments when “critical mass, the threshold, [or] the boiling point” is reached and change occurs “not gradually but at one dramatic moment.”a One historical case in point: the collapse of the former Soviet Union, which, though building for years,…
Healthcare in 2024: hfm columnists recount key issues finance leaders should keep on their radar
As 2024 begins to unfold, a key question challenges healthcare finance leaders: What are likely to be the defining issues for healthcare in the coming year? Finance leaders should consider this question to make sure they are attuned to the potential for industry shifts, both positive and negative. And as they contemplate what’s in store…
The state of U.S. primary care: How new ways of thinking can spur meaningful improvement
As healthcare stakeholders consider ways to fortify the nation’s primary care system, industry leaders recommend emphasizing several strategies and components — and not waiting to act. “We’re close to midnight in many respects in thinking about how to urgently preserve and expand primary care in America,” Susan Dentzer, president and CEO of America’s Physician Groups…
HFMA strategy session highlights challenges and opportunities for healthcare finance leaders: payer relations, supply costs, AI and more
The legacy healthcare provider’s position in the industry could grow tenuous if leaders don’t respond boldly and strategically to ongoing trends, according to insights recently presented to HFMA leaders. “We’re at a crossroads right now,” Ashraf Shehata, principal and U.S. national sector leader for healthcare and life sciences with KPMG, said in November during a…
As healthcare defragments, payers grow stronger
Two professional memories from the past two decades come to mind as I look to the horizon and try to see where this industry is headed, as all healthcare investors must do. The first memory is of the constant refrain I heard from healthcare executives in Nashville, Tennessee, as I was learning the ropes of…