On May 12-15, the Healthcare business of Thomson Reuters hosted the 24th annual client conference at Rosen Shingle Creek Resort in Orlando. For the first time, the Healthcare Advantage Conference brought together employers, health plans, government, provider, and clinical clients in a single location. This combined event attracted hundreds of healthcare professionals interested in learning best practices, networking with peers, and hearing outstanding presentations from industry thought leaders.

Keynote speakers included former U.S. Senate Majority Leader Bill Frist, M.D., Steve Levitt, author of Freakonomics, Forrest Sawyer, former NBC, MSNBC, CBS, and ABC anchor, and Kaveh Safavi, M.D., J.D., chief medical officer, Center for Healthcare Improvement, Thomson Reuters. Each shared thought-provoking presentations highlighting important trends and issues.

Frist spoke from his perspective both as a physician and a politician on the major landscape issues including healthcare consumption, healthcare spending, the uninsured, the cost and affordability of healthcare, federal entitlements, and payment schemes.

Frist acknowledged that the U.S. healthcare system is at a "tipping point" and is in dire need of major reform. "The transformation in healthcare is going to be private-sector driven. It needs to be patient-centered, provider-friendly. The goal has to be universal care, affordable health insurance for all Americans from a basic ethical standpoint. I do think as a rich country, we should not be denying opportunity for good healthcare to Americans today," he said.

More opinions
Like Frist, Sawyer also discussed the fact that our country's economic growth cannot keep up with the rapid increases of healthcare costs and spending. Sawyer also echoed Frist's concern over how, as a nation, we pay significantly more than other developed countries but do not appear to be reaping the benefits. However, he also noted one significant difference: in the U.S., we treat patients with chronic conditions longer — to later stages and with more advanced treatments.

In Sawyer's discussion of solutions, he said, "Healthcare information technology is one of the most crucial aspects of healthcare cost containment." He cited the information revolution again, when he praised putting more information into the hands of consumers, saying that's allowing ordinary people to affect change on a regular basis.

Hard evidence
Levitt – once called "the Indiana Jones of economists," by The Wall Street Journal – spoke about the fact that complicated problems are often much simpler than they seem, as long as you're looking in the right place.

Levitt spoke about his unique studies of subjects that traditional economists typically avoid — the hierarchy of inner-city gangs, the pricing structure of an independent donut and bagel salesman, and more. By looking at hard evidence to get results, Levitt explained how he has been able to creatively uncover many economic solutions that can be applied to everyday life.
   
Trends
Safavi examined the impact of major factors influencing healthcare services and the effects those trends will have on the industry's profitability and leadership. He talked about trends stemming from inpatient services, finances, emergency department services, clinical services, Present on Admission indicators, and consumer action.

Safavi acknowledged that hospital and healthcare leaders are operating in a constantly changing and demanding environment. "The only sure information is that which happened in the past," said Safavi. "But like a mutual fund disclaimer states, 'Past performance is not an indication of future performance.'" He left the audience with this, "Well-thought through decisions are enabled by complete and reliable information, and a solid understanding of the current state of affairs."

The conference concluded with the fourth annual Insight Awards dinner where 13 hospitals were recognized for excellence in performance improvement, including Temple University Health System of Philadelphia which won the Insight Award for Overall Performance.

Learn more and view videos of the 2008 Insight Award winners.

View Highlights from the 2008 Healthcare Advantage Conference

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Highlights (2.46 / 9.7M)

Conference Overview (1:45 / 4.6M)