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Technology Fuels Innovation in the Healthcare Sector
By Jeff Bader
Silicon Valley Business Journal's recent "Business of Healthcare" event showcased the Excellence in Healthcare awards as well as a panel discussion featuring the valley's top executives in the field. The emerging theme in health care is "the challenge of providing access innovation" began Stanford Health Care's Jenni Vargas when asked what impact the Affordable Care Act, or Obamacare, has had on the Silicon Valley health care delivery system. Stanford's Chief Strategy Officer gave examples of off-site "virtual clinics" or providing photo dermatology. Moderator Michelle Montoya, COO at Filice Insurance Agency, turned to Tomi Ryba with the same question, the El Camino Hospital CEO agreed that, "the new competency is to provide care outside the hospital."
Tomi also commented that due to the sheer scale of the economy in California, health care reform is a truly daunting task. The fact that one third of Covered CA enrollees are being subsidized by Medi-Cal, combined with low Medi-Cal reimbursement rates leaves the "true impact of ACA to be determined. . . . Just because a person has coverage doesn't mean that they have access," nor does it necessarily change behaviors says Ryba.
"We need to embrace innovations that integrate our health care delivery system," according to Susan Smarr, Physician-in-Chief at Kaiser Santa Clara Medical Center. "The world of medicine has changed," says Smarr, including new health care workforce dynamics. A younger average age and decidedly more female hospital staff now considers their mission to be part of a bigger, community-based effort. "Teams are here to stay," Smarr added. Paul Beaupre addressed the ACA's impact on staffing at Good Samaritan Hospital where he's been CEO since 2010. Beaupre sees a growing shortage of mid-level services personnel like lab and equipment technicians. Beaupre along with Susan Smarr both agreed that there would be a decreasing demand for solo, private practice physicians in an industry driven by mergers and increased pressure towards an ACO continuum. Tomi Ryba sees current system consolidation "reducing choice and increasing price pressure." She cites "community-based partnerships" as the number one industry trend.
Jenni Vargas commented that in addition to consolidation and innovation, she sees payment reform as trending. Susan Smarr shared what she considers the three dominant trends in the industry to be bringing better outcomes to more people, a shift from inpatient to a continuum of care and the growing importance of an extended care team. This important and growing sector of the State's economy is clearly taking important steps forward right here at home.
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