Experiential learning is at the heart of business education at UNC Kenan-Flagler. Throughout their studies in the Executive MBA program, physicians Martyn Knowles and Ben Wood (both MBA ’18) enjoyed a unique opportunity: launching a company that applies business principles to their profession of healthcare.
Read MoreWith the imminent transition to value-based care, the development of innovative solutions that reduce cost while preserving or improving quality of care will be essential. Technological advances in healthcare that improve efficiency and reduce expenses will prove beneficial to hospital systems and patients.
Read MoreThe new wave of technology in healthcare will vastly improve upon current EHR systems. A paradigm shift will occur when tech innovation is implemented to reduce waste through lean methodologies that focus on value-added activities. This is true throughout the entire healthcare industry and the opportunity within surgical services is among those with the greatest potential impact.
Read More"As this digital transformation has taken place, we see the opportunity of care coming back to the hands of physicians. Workplace technology transformation doesn't just improve clinicians' satisfaction, but it supports the organization's overall shift to value-based care models with superior data collection.”
Read MoreThis study at UCSF found that 13% of the total surgical cost was spent on unused or wasted supplies. Providing an interactive platform to surgeons for preference card management, equipped with pricing insights, will lead to surgical cost savings by enabling best value supply selection, a reduction in disposable waste, and less cost variation between surgeons.
Read MoreEngaging surgeons in the process can have a profound impact- this study in JAMA Surgery demonstrated a 10% reduction in surgical supply chain costs in its first year after implementation. Visibility into surgical supply cost data can empower surgeons to be active participants in cost savings initiatives, while maintaining high quality in the delivery of surgical care.
Read MoreOperative Flow Technologies was founded by surgeons who understand the problems in the operating room. Prior to committing to a technology solution, they immersed themselves in the entire surgical services process to design a solution for all stakeholders.
Read MoreWith increased transparency, patients will have a better understanding of their bills. This is a great start; but to really drive down hospital cost, this visibility must go deeper to also give the information to providers so that cost-conscious decisions can be made.
Read MoreDr. Nichol provides compelling evidence around one of the greatest potential cost-savings opportunities in healthcare.
This article highlights the pivotal role of the surgeon preference card in cost savings opportunities for healthcare systems. Digitizing the lean methods applied in this article to streamline the process can provide a means to recapture the $5 billion per year that is lost due to inefficiencies in the supply chain.
Read MoreHealthcare is caught between a complex, archaic system and cutting-edge technology. New technologies should focus on improvements in patient care, safety, and experience. Technology should also find ways to increase hospital staff efficiency and communication, while providing better value.
Read MoreWhat can you do to have better communication, faster turnover times, and cost savings in the OR?
Great article out of Virginia Mason demonstrating what's possible with performance improvement projects in the OR.
