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HIMSSCast: Embrace technology to replace the mundane tasks

Hospitals need a holistic dashboard of financial indicators that align with how revenues get recognized, says Premier CEO Mike Alkire.

Susan Morse, Executive Editor

Photo: Tetra/Getty Images

Mike Alkire, president and CEO ofPremieroften advises health system executives. In fact, Alkire and the group-purchasing organizationadvise an estimated 4,400 health systems and 250,000 providers in the United States.

"If I were running a healthcare system, I would consider thinking about being a retailer," Alkire said.Along with making a hospital appealing and convenient, hesaid, "I would try to embrace technology as much as I could, (for) the mundane tasks."

But the biggest new challenge facing hospital executives is their lack of access to capital, he said. What's more, there's at least a billion dollar gap between what's available to payers compared to providers.

What remains true, Alkire said is, "You cannot have healthcare without a provider."

For more on what Alkire has to say about running a hospital, please listen to his conversation with Healthcare Finance News' Executive Director Susan Morse.

Talking Points:

  • AI and machine learning can build out algorithms and take over clinician and administrative burden.
  • The big commercial issuers such as UnitedHealthcare, Aetna, Cigna and Anthem have billions in investments and can cherry-pick services, while a health system has access to a few million of capital.
  • Supply must not be stuck in one country overseas.
  • Premier and 16 health systems invested in thedomestic manufacture of masks in Texas, in isolation gown factories in Tennessee, in another factory in Virginia andin generic drug manufacturing in North Carolina.
  • Premier is also looking at continued, near-shore opportunities for supply.
  • Premier is expanding the ability for universities to bring in more students to fill healthcare gaps, but state crediting needs to be examined, Alkire said.

More about this Episode:

FDA: Medical device shortages could worsen

AI's automation can transform the revenue cycle

Hospital leaders say their organizations must improve the way they leverage data

Payers could see 7% spike in healthcare costs in 2024

AI's ability to transform care gives added energy to HIMSS23

Twitter: @SusanJMorse
Email the writer: SMorse@himss.org