Results of Vizient survey highlight C-suite uncertainty around health policy
IRVING, Texas--(BUSINESS WIRE)--According to Vizient’s post-election survey of member hospital C-suite and hospital pharmacy executives, more than 90 percent are in favor of keeping the protections afforded to patients with preexisting conditions currently included in the Affordable Care Act (ACA). A top concern for the future is lower reimbursements, followed by fewer insured/covered patients.
Vizient, Inc., the nation’s largest member-driven health care performance improvement company, conducted the survey to understand how its member hospitals are reacting to proposed changes by the new Administration to the ACA. The survey also asked executives about their top concerns for the future and their priorities for 2017.
“In reviewing the survey results, central themes come through: uncertainty and concerns about financial viability. There are many open questions about the future of the ACA, and what a repeal and replacement strategy could look like,” said Byron Jobe, president and chief administrative officer for Vizient. “As Congress wrestles with these decisions, it’s important to ensure reimbursement levels are enough to allow hospitals to continue their mission of caring for patients in their communities. Equally important, hospitals must quickly gain a clear understanding of where health policy is heading so they can begin to prepare.”
Top findings from the survey include:
- An overwhelming majority of hospital C-Suite leaders (89.5%) and hospital pharmacy executives (96.2%) want to keep the ACA’s protections of patients with pre-existing conditions in place
- The majority of hospital C-Suite leaders want to see value-based reimbursement continued in the event that changes are made to the ACA
- The top concern for the future of the executives surveyed was lower reimbursement, followed by fewer insured/covered patients
- Looking ahead, the leaders surveyed cited reimbursement from Medicare/Medicaid, followed by health policy, as having an influence over hospital merger and acquisition activity
- In light of recent price spikes and drug shortages, 55% of hospital executives surveyed said they would like the Trump administration to work with the FDA to fast-track competitive drugs to market
- Across all executives surveyed, their top 3 priorities for 2017 were (1) reducing clinical variation across care delivery, (2) migrating toward value-based models and (3) the integration of existing technology systems
“We believe there is broad consensus among hospital leaders that the traditional fee-for-service payment model alone is not sustainable. There have been significant investments made in the migration toward value-based care, and hospitals require a coherent direction in order for these programs to deliver on their promise,” said Jobe. “During this time of uncertainty, executives should focus on factors they can control. Addressing operational efficiency, reducing clinical variation and driving down costs will help executives ensure that their organizations can sustainably weather a changing and potentially leaner operating environment.”
The survey was conducted online, with the results based on responses from 222 health care C-suite leaders (CEO, COO, CFO, CMO, CNO, CIO) and hospital pharmacy executives between Dec. 1—14, 2016.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents almost $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as the recently acquired MedAssets’ Spend and Clinical Resource Management (SCM) segment, which includes Sg2. In 2016, Vizient received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.