“I happen to think we’re in the single greatest industry,” Brian Sanderson said during the opening session of the Crowe Healthcare Summit. “I feel as though everyone working in healthcare has something more to them.”
Sanderson, the managing principal of the Crowe healthcare services group, addressed nearly 200 Crowe healthcare clients and other guests on Sept. 20. Using humor and encouraging audience participation, Sanderson certainly kept attendees’ attention while he discussed “solving for X.”
“There’s been an evolution of the profession,” Sanderson said. He explained that first the healthcare profession was considered a craft, then there was a movement toward standardization, then systematization, and now automation. “Automation is where everything is headed,” Sanderson added.
Crowe is using automation to solve for X – in this case, collecting data to determine a given performance ranking. Sanderson stated that there is no shortage of data in the marketplace, and understanding how your organization is performing is important in making improvement. To that end, Crowe created the Crowe Index Score, the gold standard for revenue cycle performance management in which companies are ranked based on 11 key performance indicators selected by a review board of hospital CFOs.
After announcing the new scoring system, Sanderson welcomed Mike Everson from Froedtert Health to the stage in recognition of Froedtert Hospital having the highest score for the Crowe RCA Premier Benchmarking Program for the 300-plus beds category.
“We’ve solved for X for some revenue cycle folks, but what about the rest of you?” Sanderson asked. “We have enormous amounts of data for most of you. We want to be able to use the data to best serve you.”
He invited the audience to write down how they would like Crowe to use data to best serve their function and organization. Audience members then folded their pieces of paper into paper airplanes and threw them toward the stage. The three attendees who threw their airplanes closest to Sanderson received donations made in their names to the foundation associated with each attendee's organization.
Sanderson ended his presentation by discussing where the healthcare revenue cycle community is headed and where he feels the industry is headed.
About the revenue cycle community, he pointed out the importance of understanding all revenue streams and the implications on operating margin; having the ability to integrate population-based predictive analytics and related net revenue impacts; and having the ability to understand clinical efficacy implications on revenue (for example, length of stay, readmissions, quality scores, and observation to inpatient conversion rates).
The industry, he said, is headed toward a situation in which half of the general population actively wears health tracking devices; the prevalence of automation leads to a patient focus on the speed to diagnosis; and bundles are the models for reimbursement. All of these factors lead to greater risk – faster than the infrastructure necessary to manage and measure such risk will be built.