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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 of╠řPremier╠řoften advises health system executives. In fact, Alkire and the group-purchasing organization╠řadvise 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.╠řAlong with making a hospital appealing and convenient, he╠řsaid, "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.

╠ř

Talking Points:

  • AI and machine learning can build out algorithms and take over clinician and administrative burden.╠ř
  • 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 the╠řdomestic manufacture of masks in Texas, in isolation gown factories in Tennessee, in another factory in Virginia and╠řin 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╠ř

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