On Monday, I had the opportunity to serve as a panelist on the topic of Value-Based Care Delivery for the Society for Healthcare Strategy and Market Development. This was a continuance from my role with its Thought Leader panel in October of 2014. Joining me were Lynn Miller, EVP at Geisinger, and Henry DePhillips MD, CMO for Teledoc. Two very bright people also doing some amazing things for those whom they serve.
Actually, it was a good idea on the part of SHSMD to check in with the panelists to hear what continues to develop in our respective worlds related to evolving, growing and thriving is this era of health care change. I had the opportunity to talk about the continued change and innovation occurring at WMHS. How we continue to learn to do new things and continue to stay ahead of the industry since we crafted change well ahead of others under Maryland's Total Patient Revenue demonstration project. How we continue to harness efficiencies and share new ideas. How we continue to disrupt pretty much everything that we do related to care delivery in a positive and constructive way. How we continue to educate our staff, physicians, advanced practice professionals, our patients and our community on value-based care delivery since the entire concept is counterintuitive to fee-for-service payment based on volume of care delivered.
Lastly, how we deal with the new entrants into our market whether they are partners, competitors or "frenemies." In this instance, so far, most have become partners in our delivery of health care. The competitors are those who seek to decrease our market share by shifting care to their acute care centers. They aren't doing anything to reduce or bend the cost curve, only bolstering revenues under what is fast becoming an outdated strategy and payment methodology. The frenemies are Walmart (its new approach to primary and chronic care), CVS (Minute Clinics), and Med Express (urgent care), but for us they are partners since they are / will be caring for patients in the most appropriate location. Our goal is to assure that patients are cared for in the best setting. These alternatives to the Emergency Department and admitting patients unnecessarily are what is necessary to reduce the cost of health care while ensuring that care is delivered to those in need.
It is so very rewarding to not only watch but to be a part of such an amazing transformation of an entire industry.