DeepSummary
The episode begins with Scott Becker introducing Alan Condon, the Editor-in-Chief of Becker's Healthcare, to discuss some key healthcare stories he's been closely following. Condon first talks about a new rule finalized by the Centers for Medicare and Medicaid Services (CMS) aimed at streamlining the prior authorization process and improving electronic health information exchange, which is estimated to save $15 billion over 10 years.
Condon then discusses a $250 million initiative funded by Bloomberg Philanthropies, where 13 major health systems across the U.S. have partnered with public high schools to help students earn healthcare credentials and certifications, with the goal of addressing the workforce deficit in the healthcare sector.
Lastly, Condon mentions that Marshfield Clinic Health System in Wisconsin has furloughed 3% of its workforce, about 360 employees, in an effort to achieve financial turnaround goals, following the cancellation of a proposed merger with Essentia Health.
Key Episodes Takeaways
- CMS finalized a new rule to improve the prior authorization process and electronic data exchange, estimated to save $15 billion over 10 years.
- 13 major health systems partnered with high schools in a $250 million Bloomberg initiative to train students for healthcare jobs.
- Marshfield Clinic Health System furloughed 3% of its workforce after cancelling a proposed merger with Essentia Health.
- Healthcare workforce shortages are a major challenge facing hospitals and health systems.
- Mergers and financial turnaround efforts are being pursued by some healthcare providers to address operational challenges.
- Government regulations like the new CMS prior authorization rule aim to reduce administrative burdens on healthcare providers.
- Public-private partnerships are a strategy being used to develop a pipeline of workers for in-demand healthcare roles.
- Consolidation through mergers remains an ongoing trend in the healthcare industry.
Top Episodes Quotes
- “So a big, big move from both administrative burden standpoint and also a cost saving standpoint. CMS estimates that over the next ten years, with some of these changes, that the final rule will save it about $15 billion overall.“ by Alan Condon
- “So essentially in the program, schools will collectively serve almost 6000 students at full capacity. Students will have access to kind of a specialized healthcare curriculum, including work based learning and these partner health systems, and obviously the opportunity to earn healthcare credentials and certifications, which will serve them well in their future healthcare careers.“ by Alan Condon
- “But obviously, I think the important thing to note is that this news of the furloughs comes about two weeks after Marshfield and essential health in Minnesota called off their proposed plan to merge into what would have been a 25 hospital system.“ by Alan Condon
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Episode Information
Becker’s Healthcare Podcast
Becker's Healthcare
1/17/24