Hospital operating margins have settled at historically low levels, and more than a third of US hospitals are still losing money. [Expenses are growing faster than revenue. Verify the year and the comparison before publishing.] The cost increases of the past several years haven't reversed. The systems pulling ahead are the ones that can find a cost opportunity and act on it quickly.
Rob DeMichiei, who led activity-based costing at UPMC as its CFO, opens with what finance leaders are facing. Ryan Gregory and Pat Rocap then show how Health Catalyst's Cost Intelligence uses GL-reconciled, case-level costing to surface variation adjusted for clinical complexity, and how teams triage and prioritize what it finds. They'll also cover how our clinical teams help service line leaders take those findings to physicians, and share results from clients.
On the Agenda:
Where cost pressure is coming from now, from reimbursement to supply costsHow case-level, GL-reconciled costing separates real variation from noiseHow to triage and prioritize AI-identified cost opportunitiesHow findings turn into physician-backed changeResults clients have achieved, with the context behind each number
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Strategic Advisor, Health Catalyst
Rob is the retired Executive Vice President and Chief Financial Officer of UPMC, a $20B+ nonprofit health system and leading health care provider and insurer. During his 16-year tenure at UPMC, he played a pivotal role in driving UPMC’s financial growth and led numerous strategic initiatives. Rob implemented best practices in service line analytics and activity-based costing. In addition to Finance, Rob led the Supply Chain Management and Revenue Cycle functions, driving integration, technology infusion and process improvement/efficiency throughout the organization. Rob’s teams created a number of healthcare technology solutions, three of which were commercialized and spun-off.
Prior to joining UPMC, Mr. DeMichiei held various leadership roles with the General Electric Company (NYSE: GE) and with PricewaterhouseCoopers. Mr. DeMichiei currently serves as a board member of Waystar Holding Corp. (Nasdaq: WAY), Ampco-Pittsburgh Corporation (NYSE: AP), Ardent Health (NYSE: ARDT), and Auto Club Enterprises/AAA. Mr. DeMichiei also currently serves as a strategic advisor for Health Catalyst, Inc. (Nasdaq: HCAT), and Omega Healthcare Management Services. He was a founder and former board member of Prodigo Solutions, Inc.
Product Solution Strategist, VP, Health Catalyst
Financial Services, VP, Health Catalyst
Pat is passionate about leveraging technology and analytics to transform healthcare services to exceed the needs of the future. She has over 25 years of healthcare experience in finance, revenue cycle, and cost management services. Her peers recognize her as a leader in Information Technology, Healthcare Cost Management Services and an expert in Agile Innovation and Implementation processes to assist in driving value through the various organization to achieve the quadruple aim. Pat has been noted as healthcare cost expert in the book, “The Health Care Consumer’s Manifesto: How to Get the Most for Your Money.” She has been a past board member of the state HFMA’s Education Committee and is a current panel member of the Innovation Forum at the Center for Health Innovation & Implementation Sciences at IU School of Medicine. Pat is currently VP of Financial Services of the Health Catalyst Improvement Services Team. She holds degrees from Kelley School of Business at Indiana University and Indiana University School of Medicine.
