High Performing Healthcare & Hospital Contracting with Ray O'Kelley | E.6
The Healthcare Leadership Experience
Release Date: 01/25/2021
Healthcare Strategy with Cole Lyons | E. 109
The Healthcare Leadership Experience
Strategic planning is vital to successful healthcare management. President & Co-Founder of The American Healthcare Journal, Cole Lyons, explains his goal of fostering a community of education to Jim Cagliostro. Episode Introduction Cole explains why transfer of knowledge is a key goal of the Journal, why healthcare strategy can be described as moving from checkers to chess and emphasizes the importance of thinking before you speak. He also explains the importance of competition in healthcare and identifies humility as an essential leadership trait. Show Topics ...
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Ideas Worth Pursuing | E. 108
The Healthcare Leadership Experience
Tech startups are predicted to disrupt US healthcare in 2024. Scott Nelson, co-founder, and CEO of venture backed FastWave Medical, offers his strategies for success in innovation with Jim Cagliostro. Episode Introduction Scott reveals the two signs that an idea has potential, why market trumps everything in innovation, and why leaders should focus on eliminating pain points for their end users. He also advises innovators to connect with potential strategic acquirers at an early stage and explains why leaders of startups shouldn’t put all their eggs in the venture capital...
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Managing Purchased Services Contracts | E. 107
The Healthcare Leadership Experience
Purchased services is often the most overlooked expense in healthcare yet offers opportunities for cost savings. Brian Bartel shares his best practices for effective contract management, with Jim Cagliostro. Episode Introduction Brian explains the unique challenges of purchased services, why a centralized contract repository is the first step to successful purchased services management, and why hospitals should never allow contracts to auto-renew. He also explains why ‘’red flags’’ aren’t always necessarily malicious and why it’s vital to question the line-item...
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Supplier Relationship Management | E. 106
The Healthcare Leadership Experience
Flourishing supplier relationships can transform healthcare organizations. Samer Haddad, shares his experience of building and navigating successful partnerships with Jim Cagliostro. Episode Introduction Samer explains why trust is the foundation of all successful supplier relationships, the importance of human-to-human connection and why a partnership sometimes means giving your partner the benefit of the doubt. He also outlines the key to a successful exit strategy (plan, plan, and plan) and why solid leadership means treating others as you want to be treated, and leaving...
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Waste in the Hospital Supply Chain | E. 105
The Healthcare Leadership Experience
An estimated 40% of expenditure in the supply chain goes to waste. CEO Luká Yancopoulos explains to Jim Cagliostro how Grapevine Technology aims to put the power back into the hands of hospitals. Episode Introduction Luká explains how Grapevine can help hospitals save up to 80% on a single line item, how even small healthcare businesses spend six figure sums on the supply chain each year, and how to frame the reality of years of overspending to his clients. He also reveals three key ways that hospitals can lower the expense of their vendor management. Show...
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Using AI to Enhance the Hospital Supply Chain | E. 104
The Healthcare Leadership Experience
The US healthcare sector has struggled to put innovations like AI into practice. Mara Cairo explains the advantages of applying machine learning and AI for hospitals to Jim Cagliostro. Episode Introduction Mara explains why the first step towards successfully embracing AI is literacy, the challenges hospitals face in system integration and why AI isn’t intended to replace humanity in patient care. She also illustrates the benefits of AI for healthcare, including predicting patient no-shows, effectively managing inventory, and reducing costs, and explains why successful...
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Data and Research in Healthcare Analytics | E. 103
The Healthcare Leadership Experience
2024 has been described as a financial ‘’make or break’’ year in healthcare. SpendMend Research Supervisor Zachary Markham explains to Jim Cagliostro why time and data are money for hospitals. Episode Introduction Zach explains why the lack of timely, accurate data can delay recovery of credits, and why most hospitals only have 50% visibility into their spend and accounts payable processes. He also shares why duplicate payments and credit on spend are the top two methods for recovery of costs, and highlights how uncovering dark data saved SpendMend clients $413...
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Workforce Development: Building the Next Generation | E. 102
The Healthcare Leadership Experience
US healthcare is facing a severe shortage of workers at every level. 6.5 million are expected to leave their jobs by 2026. Geoffrey Roche addresses the challenges in building a new workforce with Jim Cagliostro. Episode Introduction Geoffrey highlights the impact of the current staffing crisis in healthcare, and why leadership needs to evolve from a transactional to a heart-centered approach. He also explains why delays to access in care can cost hospitals up to $1 million every month, how one community college turned away over 13,600 qualified students from a program, and...
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Sufficiency in the Midst of Uncertainty | E. 101
The Healthcare Leadership Experience
Tom Pierce, the President of Integrated Information Systems Incorporated provides valuable insights based on his diverse background in problem-solving, logistics modeling, and consulting. Introduction Our guest, Tom Pierce, the President of Integrated Information Systems Incorporated provides valuable insights based on his diverse background in problem-solving, logistics modeling, and consulting. The episode explores the impact of technology and human behavior on the supply chain, challenges in decision-making related to expenses and stock management, and the importance of...
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Healthcare Cost Savings: Surprises & Predictions | E. 100
The Healthcare Leadership Experience
After 25 years and $1 billion of hospital cost savings, Lisa Miller is joined by Rich Dormer, Bryan Covert, and Pandu Mitre to celebrate this landmark episode of THLE. Episode Introduction Together, the team discuss the cost savings surprises of 2023 and look forward to 2024. Insights include the two-tiered approach to cost savings goals that all hospital leaders might want to consider, and why difficult vendor negotiations will continue in 2024. The team also review the potential impact of AI on cost reduction, why finding hidden costs always comes back to line-item...
info_outlineThree steps to establishing the foundations of a healthy contract for hospitals and healthcare organizations.
In Episode 6 of The Healthcare Leadership Experience, Lisa is joined by Ray O'Kelley, CEO & Founder of Healthy Contracts and Business Data Applications (BDA), Inc. Ray has 25 years of experience in healthcare software leadership, and helped to build MediTract to a $300 million division.
Ray is a Veteran, and retired United States Marine. He served ten years of active duty during the Persian Gulf War.
Today’s episode is sponsored by Invoice ROI™, the only patented purchased services and indirect spend technology to manage, monitor and benchmark line item details.
In this episode of The Healthcare Leadership Experience you’ll hear:
- Discover the true definition of a contract review. (Hint: It isn’t sending a 30-page contract out to four different people and asking them to read it).
- Why the open source innovative technology behind the Healthy Contracts and BDA healthcare contract system is highly important and why it has to be the technology of today, not the past. "If you have a payer you want to reconcile, a bank of CBTs, DRGs to analyze, this technology can support it."
- Discover the three steps to determine the renewal type of a hospital healthcare contract and when "interpretive extraction" is vital.
- Why there’s no total AI solution for contract management — and why integrity is essential. "When we look at AIs and robotics, we ask ‘’Can it make a legal interpretation?.... and 50% of the time it can’t."
- Discover the four primary goals for working with hospitals and their contracts — and why in software as a service (SAAS) the data must be accurate and simple to use.
- Why your hospital must understand what’s really happening in your healthcare contracts. "There’s waste … but most hospitals don’t have the resources to identify, mitigate, remediate and renegotiate it."
Resources:
🖥 https://www.healthycontracts.com
🖥 https://www.businessdataapps.com
Connect with Lisa:
📱https://www.linkedin.com/in/lisamiller/
Check out this episodes sponsor:
🖥 https://viehealthcare.com/category/invoice-roi/