For your ease of reference and comprehensive pleasure, I’ve culled out the key information that Kate solicited from Farzad. Thank you Kate and Farzad!
Here We Go!
Kate: Can you recap your presentation here at AHIP Institute?
Farzad: “It was about data – turning data into insights. This time is different– the availability of digital infrastructure, digital information and what do you do with that data once you have it. It was about the Yin and Yang of payment reform and delivery transformation. And I believe data and information systems are going to play a critical role in helping us succeed”
Champion of the Small Practice
Kate: “Doctor, you are a champion of the provider. In regards to the ‘Small, independent practitioner’ – how do you help them?"
Farzad: “Good news is that we now have tools that are cloud-based, that the smallest practice can take advantage of. Tools and systems that were recently only available to large providers like Kaiser"
Farzad: “The Big Theme with MACRA. And the changes coming in healthcare is that there are greater and greater demands on healthcare: reporting, administration, compliance, and value-based payment. It’s going to be… VERY, VERY hard to stay autonomous. As a doctor I’ll have to figure out: do I become an employee, retire, check out or band together with other practices?”
Message of Hope
Farzad: 'There is a third way’ – small practices can band together with other practices into virtual groups – come together and get support you need to do the reporting, population health, do the ACO contracting, - but don’t change your independence."
Kate: "How do you see this independent practitioner competing against larger, consolidated practices that have the extended services, transportation, offer home-based monitoring that can impact quality scores and reimbursement?”
David vs. Goliath?
Farzad: "You might think that Goliath has the advantage here but they don’t! Small practices have lower readmission rates, lower costs, higher patient satisfaction and higher patient engagement. The one thing they lack is market power - in the FFS environment”
“Population health plays to the advantages of practices/groups that don’t have to worry about keeping their beds full, the procedure suite humming, and the operating suite going. If you don’t have to worry about ‘demand destruction’ (What health systems call it when patient's are healthy) then you have a mathematic advantage. Small practices can outperform large health systems"
Kate: "Virtual arrangement can be a way to scale."
Farzad plugged his company Aledade here. :)
Farzad: “Every time there are new payment rules issued there are significant impacts to infrastructure. CIO’s are becoming more and more strategic – they need to anticipate what the organization will need in the future.
What Should Healthcare CIO's Do With Their Data?
Farzad: There are few things CIO’s they need to do with their data:
1. Generate insight of your data
2. Make that data accessible for insight.
3. Create a learning infrastructure (like I'm doing here) – experiment, instrument your interventions and outcomes. Learn from yourself.
“There’s nothing you can predict – like we’re going to need more of this or that – you can’t know that. But what you can know is that the future is going to be changing and the more you can learn the better your organization is going to be"
Farzad: "There is a commitment on the part of CMS to get it right –and their going to continue to work to get it right."
What Types of Care are There?
Farzad: There are three Types of Care:
Managed Care – Lots of benefit design, who you can see, what you can get, what you can’t get
Totally Unmanaged Care - FFS, PPO – go wherever you want. The patient is the manager.
Something in the Middle – someone to accountable for you and make you accountable in a soft way, to nudge you.
That's it. Thanks to Kate Warnock and Farzad Motashari for sharing this great info.