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Catherine A. Jacobson President and CEO Froedtert Health (Part 1)
Manage episode 297377574 series 2911789
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Tom Robertson, Executive Director of the Vizient Research Institute sits down with Cathy Jacobson, President and CEO of Froedtert Health In Milwaukee, Wisconsin to discuss everything from agile decision-making during the COVID pandemic to deliberate system rationalization of clinical resources, including program consolidation and efficient utilization of both tertiary and lower acuity facilities. As a long-time chief financial officer, Cathy shares insights around economic incentives and the importance of avoiding inadvertent structural impediments to doing the right things.
Guest speaker:
Catherine A. Jacobson, FHFMA, CPA
President and CEO
Froedtert Health
Moderator:
Tom Robertson
Executive Director
Vizient Research Institute
Show Notes:
[1:13] America has the best health care in the world, but not the best health care system. (Cost, quality, and access for all citizens of the United States)
[1:13] We do best in science, innovation, treatment and education
[04:08] Hospital systems must have local scale to accomplish rationalization of services; provider consolidation across distant markets does not serve that purpose
[10:05] The pandemic led to command centers that made decision-making more agile; Froedtert will keep the “recovery command” infrastructure in place moving forward because decisions are “deliberate but at speed”
[12:43] Unexpected consequence of the pandemic: Froedtert advanced the pace of their long-term cost reduction goals by one year
[14:16] During the pandemic shutdown, Froedtert management intentionally thought about what new structures to keep after the pandemic (i.e. organizational change and enhanced communication)
[17:05] Video visits are down from mid-pandemic peaks; Froedtert targeting areas to re-establish more virtual
[18:24] When patients are seen in video visits, not as many lab tests and x-rays are done
[19:21] When volume comes back, it’s going to come back sicker and worse – we’re going to see double-up rebound on Medicare payer mix.
[23:05] For systems to work, it’s essential not to inadvertently create financial incentives that impede good people doing the right things; at Froedtert, individual hospitals are not evaluated on their own performance, everyone rides on the system’s bottom line.
Links | Resources:
Cathy Jacobson’s Biographical Summary Click here
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