General Session at the NIC Spring Conference 2020.
SAN DIEGO—"Value is created when silos break down." That was the main message during a morning session Thursday at the NIC Spring Conference here in San Diego. The conference, which focused on how senior housing fits into the healthcare expenditure equation said that when silos are broken down, there is more support so that functional needs, healthcare, and enhanced housing services can come together to create better value for seniors.
David Nash, founding dean emeritus of the College of Population Health at Thomas Jefferson University, said that the problem, though, is that defining value is hard to do and depends on your perspective. But one fact remains, he said. "The current spending is unsustainable."
Nash pointed out that the total healthcare industry spends roughly $1 billion per day. "We are at that inflection point. This is every Governor's biggest problem."
One potential solution, he said, is to go upstream shut the faucet off instead of mopping up the floor. What that means, he added, is that "it is key to find a way to achieve value instead of billing for volume and everything we do."
That inflection point or tipping point, as Nash also put it, is an unbelievable opportunity in senior housing. "If you can become part of the hospital provider solution, then you and I can get connected in a new way to achieve value."
Value, he added has a lot of names. It can be called a global fee, bundle payment and more. "In a bundle payment system, you, the senior housing operator knows Jane's' diet and exercise and can help connect those dots when she goes to the hospital for her heart." The goal, he concluded, is to find new ways to work together.
But the journey there won't come easy, Nash said. "This is going to be a test for this crowd's appetite for risk, the road to risk is the road to redemption to help fix these aspects of the cost problem."
Stay tuned to read more from the NIC Spring Conference and check out the stories already done below.
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Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
