EP424: Five Things for Hospital System Execs to Get Real About in 2024, With Peter Hayes

Five Realities Hospital Execs Need to Face in 2024 with Peter Hayes

To read the full article and show notes with links mentioned as well as a full transcript, click here.

In episode 424 of Relentless Health Value, host Stacey Richter speaks with Peter Hayes about five critical topics hospital system executives must address in 2024. They discuss the implications of the Consolidated Appropriations Act, the necessity for hospitals to become more administratively and technologically efficient, the shift from fee-for-service to episode-based care, the need for transparency and accountability regarding tax-exempt statuses and 340B drug pricing, and the imperative of ensuring high-quality and safe patient care. The episode emphasizes the growing demand for hospital systems to adapt to regulatory changes and market pressures while maintaining fiduciary responsibility, quality care, and trust within their communities.

Love the show? Please consider signing up for our weekly newsletter. We'll send you an article covering the latest episode with show notes, mentioned links and a transcribed intro. Join the RHV Tribe.

For more on the wild problems with hospital pricing, check out this list of shows. But, spoiler alert, some of these are hair-raising.

08:04 Why do hospitals need to get real about the implications of the Consolidated Appropriations Act?

10:09 What is considered fair pricing for hospitals?

13:00 EP390 with Gloria Sachdev, PharmD, and Chris Skisak, PhD.

15:59 The medical transparency tool, Billy.

16:34 How does lowering prices become more challenging with consolidated hospital systems?

18:07 What is one of the solutions available to combatting this now?

19:31 Why do hospital systems need to get real about administrative and technology efficiencies?

22:27 EP373 with Cora Opsahl.

26:51 Why do hospitals need to get real about pivoting from fee-for-service reimbursement to episode-based care?

30:16 EP415 with Rob Andrews.

30:53 Why do hospitals need to get real about the 340B program and their tax-exempt status?

35:38 EP394 with Vikas Saini, MD, and Judith Garber, MPP.

38:19 What are the ethical and moral issues that are coming to a head with healthcare costs?

39:03 Why do hospitals need to reexamine their care quality and patient safety?

40:05 “We just need to make sure that the health industry is as accountable as some of our other industries.”

42:53 Why does Peter think it’s going to take regulation to move the dial?