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Strata Decision Summit Brings Healthcare Leaders Together to Bend The Cost Curve [Global Data Point]
[October 22, 2014]

Strata Decision Summit Brings Healthcare Leaders Together to Bend The Cost Curve [Global Data Point]


(Global Data Point Via Acquire Media NewsEdge) The theme of the 2014 Summit is 'Bending the Cost Curve' and the conference will focus on how hospitals and healthcare delivery systems are reducing the cost of care while also improving the value of the care they deliver. According to a recent study by the Healthcare Information Management and Systems Society (HIMSS), reducing cost has become the top strategic priority for healthcare providers. With changing and challenging market dynamics and a movement to value-based and capitated reimbursement, hospitals and healthcare systems have begun to shifted their focus from growing the 'top line' to improving the 'bottom line,' from both a clinical and financial perspective.



"Providers are recognizing that the current 'cost data gap' in healthcare is unsustainable and they must take action to bend the cost curve now in order to survive in the future," said Strata Decision's Chief Executive Officer Dan Michelson. "Cost reduction is clearly not a passing trend. Regardless of whether one is operating in a traditional fee-for-service or a capitated setting, reducing costs has become a board-level imperative. In order to get after it, healthcare leaders are now coming together to share ideas and best practices. The opportunity to make a difference and make healthcare better is significant." Keynote Session Highlights The keynote will feature two world-famous physicians who will share two inspiring and instructive healthcare stories -- one that is unfolding right now and one that happened over 20 years ago:    • Dr. Ashutosh Raghuvanshi, Chief Executive Officer, Narayana Healthcare: Dr. Raghuvanshi will discuss India-based Narayana Health's breakthrough of delivering open heart surgery at the same or better quality as in the U.S. for less than 10% of the cost. Their innovative model, featured in the Wall Street Journal and in the Harvard Business Review, has emerged as a global industry standard for low cost, high quality care.

   • Dr. George Lombardi, Nationally-known Infectious Disease Specialist: Dr. Lombardi will discuss his experience receiving a life-altering phone call asking for his help to save a gravely-ill patient. That patient was Mother Teresa, the universally acclaimed Nobel Peace laureate and champion of the world's poor. Dr. Lombardi's journey to India and his fight to save Mother Theresa's life is a testament to the power and passion of healthcare. During the keynote, Strata Decision will also highlight the introduction of StrataJazz Continuous Cost Improvement, a new module within StrataJazz and the first cloud-based solution designed to help healthcare providers reduce cost on a continuous basis. Shrinking margins coupled with additional market pressures have driven most hospitals to implement major cost reductions with targets of over $100 million. Currently, there are no software applications on the market to support these initiatives, which are time consuming, costly and often ineffective. Continuous Cost Improvement represents the introduction of a new category of healthcare information technology software, designed to help hospitals and health systems reduce cost and drive the bottom line.


(c) 2014 GlobalData Provided by SyndiGate Media Inc. (Syndigate.info).

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