Healthcare CIOs Cite Top Strategies to Manage Cost and Realize Value of IT
Insights Shared at CIO Summit Co-Sponsored by Scottsdale Institute and Impact Advisors
MINNEAPOLIS and CHICAGO, March 13, 2014 /PRNewswire/ -- Whipsawed by the pressures to dramatically cut costs while simultaneously expanding their information technology (IT) capabilities, a blue-ribbon panel of healthcare CIOs shared top strategies for managing IT cost and maximizing IT value at a CIO Summit in Chicago in late 2013. The CIOs, whose facilities together represent $35 billion in annual net patient revenue, and a total of 225 hospitals and 2,200 care sites across the country included:
- Jay Anderson – Northwestern Memorial Hospital
- Mark Barner – Ascension
- John McLendon – Adventist Health System
- Patrick O'Hare – Spectrum Health
- Bruce Smith – Advocate HealthCare
- Alan Soderblom – Adventist Health
- Mark Zirkelbach – Loma Linda University Health System
The report from the Summit, convened by Scottsdale Institute (SI), a not-for-profit membership organization of health systems advanced in IT, and sponsored by Impact Advisors, a healthcare IT consultancy, outlines key initiatives these leading health systems are undertaking in 2014 and beyond to manage operating costs and deliver more value from large-scale IT investments.
A copy of the report, "Managing Costs and Maximizing Value: Strategies From a CIO Summit" is downloadable for free at www.scottsdaleinstitute.org and at www.impact-advisors.com.
One strategy to help assess IT cost and identify potential opportunities for savings is benchmarking. All of the attendee's organizations are using the Scottsdale Institute's IT Benchmarking Program for that purpose. Scottsdale Institute provides this service to the industry as part of its 501(c)3 mission.
"Shrinking reimbursement and growing risk are driving health systems to derive value from everything they do, including IT," said Shelli Williamson, executive director of the Scottsdale Institute. "These CIOs represented organizations characterized by strong IT leadership. Their strategies always provide the foundation for our program, which is designed to deliver value to all the stakeholders of IT investments."
"Being a healthcare CIO today is not for the faint of heart," said Andy Smith, president of Impact Advisors. "As healthcare shifts from the old model of volume and fee-for-service to one based on value, accountable care and population health management, innovative ways to deploy IT in a more standardized and yet effective way will define health system winners and losers."
About Scottsdale Institute
The Scottsdale Institute (SI) is a not-for-profit membership organization of prominent healthcare systems whose goal is to support its members on their journey to clinical integration through information technology. SI facilitates knowledge sharing and collaboration among an exclusive group of senior executives as well as among their teams across the enterprise. We provide intimate and informal forums that accomplish this goal through collaboration, education & networking. For more information visit www.scottsdaleinstitute.org.
About Impact Advisors
Impact Advisors provides Best in KLAS strategy and implementation services to drive clinical and operational performance excellence in healthcare through the use of information technology. Impact Advisors is a recognized leader in the healthcare IT industry. We stay attuned to the latest technologies and trends impacting our clients through our involvement with advocacy organizations, including the Scottsdale Institute, HIMSS and CHIME.
Our Mission: Create a positive Impact! For more information visit www.impact-advisors.com.
Media Contact:
Karli Smith
PR Etc.
815-977-5343
[email protected]
SOURCE Scottsdale Institute; Impact Advisors
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