More than 1,000 distributors, manufacturers, and providers listened to the best and brightest minds in healthcare at HIDA’s 2014 Streamlining Healthcare Conference, with several noteworthy takeaways spread throughout:
1. Engaged patients have lower overall healthcare costs. Patient experience is a vital component of value-based care and HIDA’s Patient Experience Summit focused on the need for distributors to be active participants in customers’ patient-centered care strategies. Healthcare rewards those who can engage wide varieties of patients in as many ways as possible, and engaged patients are more likely to practice healthy behaviors and have higher patient satisfaction rates—all areas providers value as they move away from volume-based care.
2. Only 40% of healthcare personnel adhere to proper hand hygiene practices. Infection prevention experts stressed the importance of using proven interventions and establishing sufficient infrastructure in non-acute settings during the Value Analysis in Infection Control Summit. Most healthcare-associated infections (HAIs) are preventable and by following this guidance, providers can avoid major lapses in safe care and prevent HAIs. Less than 40% of hospitals are in full compliance with evidence-based practices, presenting a significant opportunity for distributors who sell infection prevention products.
3. Healthcare spending is shifting to the home. Home and community-based care has grown from 20% of Medicaid long-term care spending to 45% in the past 15 years, a trend explored in-depth during the Post-Acute Market Outlook. As healthcare moves to hybrid/home settings, this shift will help increase demand for telemedicine and monitoring devices in non-traditional care settings, with an emphasis on creating efficiencies in patient care coordination.
4. Contract efficiency is a top supply chain savings priority. Distributors can minimize supply chain pricing discrepancies by transmitting chargeback claims to manufacturers no later than 45 days after sales, according to recommendations from HIDA’s new white paper, Improving Pricing Accuracy: Best Practices in Contract Communications (PDF). Unveiled during the conference’s Contract Administration Workshop, the paper resulted from a two-year industry effort to make the supply chain leaner and less costly.
5. Cardiovascular leads outpatient service growth forecasts. Over the next decade, inpatient discharges are projected to increase by 15%, while outpatient demand could grow by 14%-21%. As patient volumes redistribute across the care continuum, outpatient market services are expected to dwarf inpatient market performance through 2024. Presented during the IDN/Acute/Physician Market Outlook, these trends illustrate why providers are redesigning their care delivery models and need distributor guidance to help with this transition.
6. Distributors continue to innovate. Approximately 30 distributors participated in the distributor Owners Roundtable, where discussion topics included profit improvement opportunities, restructuring sales forces, and cutting operations costs. Attendees agreed there is still room to grow market share by staying flexible and finding opportunities to innovate. Because of its popularity, this event will return in early 2015 at HIDA’s Executive Conference, March 17-20, Bonita Springs, Fla.
Mark your calendar for September 9 – 11, 2015, when HIDA’s Streamlining Healthcare Conference heads to Dallas, TX.
HIDA’s Patient Experience Summit was presented by WelchAllyn and Owners Roundtable was presented by IMCO and NDC, Inc.