There’s no denying that American health care companies are facing a transformation imperative. Forces ranging from increases in R&D costs and declining productivity to the prospect of fewer big volume drugs in the pipeline are squeezing margins and forcing layoffs in the pharmaceutical industry. What’s more, the entire health care sector is grappling with the challenge of adapting to the mandates of the controversial Affordable Care Act (aka ObamaCare). Meanwhile, medical care costs continue to spiral, with spending on health care projected to reach 20 percent of GDP by 2020 and the aging of America’s population working against efforts to whittle away at the nation’s health care bill.
“This is the most disruptive time I’ve experienced in 40 years being in medicine,” Ken Davis, CEO of The Mount Sinai Medical Center, told business leaders who gathered for a Chief Executive roundtable discussion held in partnership with A.T. Kearney.
“We talked about disruptive change in the ’80s with HMOs, and in the ’90s with the Clinton’s plan for [reform], but it is different this time,” agreed Chris Paddison, partner at A.T. Kearney, who outlined five drivers of the transformation of health care (See “The Big Five” sidebar at right). “The depth of change needed and the pace of change going on is far more [intense] than what we’ve experienced in the past.”
Most in the industry acknowledge the need to wring out inefficiencies in the health care system and to shift incentives toward performance metrics rather than overutilization of medical equipment, pharmaceuticals and physician resources. Yet, one fear is that those changes will ultimately negatively impact the quality of care.
“Sure, there are PSAs we don’t need to do, MRIs we don’t need to do, and, yes, doctors who own those machines use them six times more frequently than those who don’t,” noted Davis. “But when I was in medical school we were taught that the value of a human life is infinite—which means there’s no such thing as too many tests if one might save a life. I don’t think we should lose sight of that.”
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
