Hartman Executive Advisors and LTPAC
How can long-term post-acute care organizations work with hospitals to improve population health? Hartman Executive Advisors, an independent technology advisory firm, recently brought together long-term post-acute care (LTPAC) CEOs and CFOs to discuss steps needed to prepare for partnerships with hospitals.
Like other business leaders, healthcare executives are always strapped for time. Hartman’s LTPAC roundtable series provides an opportunity for these executives to discuss their unique challenges around a particular topic and ways to achieve their organizational goals at the C-level.
At the most recent LTPAC roundtable, the participants talked about the importance of hospital partnerships, the realities behind the acquisition, and the keys to integration. Here are the highlights:
What matters to Hospitals
Hospital and acute care executives are focused on engaging physicians for referrals, reducing avoidable utilization, and delivering quality care – all of which lead to the move toward a shared risk environment. This represents a shift from an inpatient episodic focus to a more holistic wellness approach required by the shared risk payment charges. In addition, for hospitals in Maryland, Waiver 2.0, the update to the state’s all-payer model, will hold acute care organizations accountable for hospital readmissions.
Future of Hospital Purchasing
The number of hospital-owned LTPAC facilities has decreased from 14 percent in 1998 to 5 percent in 2014. Hospitals are interested in partnering with LTPAC providers to share risk and improve quality, but they are not necessarily interested in purchasing the facilities. Hospital executives are interested in the trove of medical information collected in an LTPAC setting, considering that individuals could spend 25 years or more in such a system.
Technology to Help With Integration
Working seamlessly together is key to any partnership. To get there, both partners need to have their business technology fully engaged with their goals abs business functions to reap the benefits associated with integrated care. For example, an organization that implements telehealth, or the tools required to deliver virtual health services to residents, is taking a step in the right direction and can dramatically reduce readmissions and improve population health.
LTPAC in a Proactive Role
If an LTPAC organization can bring meaningful data to a hospital, they will want to listen to what they have to say. It’s time for LTPAC to be more confident in their approach, provide information, and propose innovative programs that will make a difference in hospitals. LTPAC leaders have the opportunity to drive population health efforts by collecting and analyzing their resident data and bringing it to their existing or desired acute care partners.
Reach out to Hartman Executive Advisors
Are you a C-level healthcare or LTPAC executive who wants to contribute to the conversation and participate in an upcoming roundtable discussion for your industry? Contact a Hartman Executive Advisor today to sign up and to hear the voices of your peers.
Roundtables are hosted at Hartman’s office in Timonium, Maryland. Remote access is available.