#10: Technology and Innovation: Key Drivers of Value-based Care

Excerpts from podcast with Gail Zahtz
Gail Zahtz is a seasoned healthcare expert, fractional executive, and global speaker dedicated to shifting healthcare paradigms from illness-centric to value-driven. Leveraging her extensive knowledge of current regulations and her inspiring personal journey from homelessness and illness to transformative leadership, Zahtz empowers both healthcare organizations and individuals.
Throughout her career, she has founded and led numerous health-focused enterprises, contributed her expertise to media and industry, advised on health outcomes-driven design, and garnered numerous accolades, including recognition as a Top 100 influencer in Health Info Technology. Zahtz's influential public health campaigns have earned national acclaim, notably from the National Mental Health Association.
As the Managing Director of Zahtz Partners, she supports healthcare leaders as a fractional executive, value-based care specialist, and workshop facilitator. Gail Zahtz's remarkable journey, surviving late-stage cancer and domestic violence, serves as a testament to resilience and offers guidance to young women worldwide. Connect with her on most major social media platforms using @gailzahtz.

Podcast Insights:

  • Value-based care transforms healthcare finances to enable profitability while prioritizing ethical healthcare practices.
  • Healthcare should be viewed as a business that can balance profit motives to do what’s correct rather than a binary choice between profitability and nonprofit missions.
  • A substantial portion of healthcare (80-90%) occurs outside clinical settings, making it essential to consider these external factors. Addressing health-related social determinants beyond clinical settings is crucial in achieving better health outcomes, cost-effectiveness, and improved patient experiences, aligning with the Triple Aim objectives in healthcare.
  • Value-based care centers around providing better healthcare while managing costs. Primary care, focused on early intervention, is a crucial building block to achieve these goals.
  • Technology plays a significant role in value-based care by automating remote patient monitoring, data management, and scheduling tasks. This automation can free up human resources and improve efficiency.
  • Data collected through technology should lead to actionable insights. Instead of merely notifying physicians about health concerns, technology should enable faster interventions, lower costs, and an improved patient experience.
  • Value-based care should focus on patient experience and addressing patients’ needs in real-time. Technology can help streamline the patient journey by resolving issues immediately, such as connecting patients with food delivery services or arranging transportation.
  • Transitioning to value-based care requires a significant cultural shift within healthcare organizations. It’s not just about adopting new technologies but fundamentally changing how healthcare is delivered and managed.
  • CMS (Centers for Medicare & Medicaid Services) is committed to value-based care by 2030, but the critical question is whether organizations will excel in this transition and harness its full potential.
  • Success in value-based care should be more than just providers taking payment cuts. It is crucial to empower providers with a direct connection between their actions and rewards, such as shared savings. It’s essential to recognize and honor their contributions.
  • Healthcare providers are facing burnout, high suicide rates, and shortages. Organizations can retain and honor their dedicated professionals by reducing administrative burdens and allowing providers to focus on patient care.
  • A shift towards a service-driven health system, where interactions are focused on providing assistance and honoring relationships, can lead to more successful outcomes in value-based care. This approach benefits both patients and providers.
  • AI is already making a significant impact on healthcare, particularly in data analysis and decision-making. It has the potential to handle vast amounts of data more efficiently than humans. It can automate administrative tasks such as quality reporting, reducing the burden on healthcare providers.
  • Emerging technologies are poised to help patients manage their health at home more effectively. Personal devices, data sharing, and automated alerts can improve patient self-care and engagement.
  • Patients increasingly expect healthcare experiences to mirror the convenience and transparency they encounter in other industries, like e-commerce and banking. Healthcare should provide similar ease of access and communication.
  • Technologies should focus on improving care for vulnerable populations, including dual-eligible individuals (those eligible for both Medicare and Medicaid) and people experiencing homelessness. Ensuring access to data, healthcare services, and consistency of care is crucial for these groups.
  • Technology can help eliminate unnecessary, redundant testing by ensuring healthcare providers have access to patient’s medical records and previous test results, ultimately reducing healthcare costs and improving patient outcomes.

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