NCMGMA: 30 Cost Saving Ideas to Implement in the Medical Practice

NCMGMA:

30 Cost Saving Ideas to Implement in the Medical Practice

Presented by: Michael O'Connell

Senior Vice President of Operations, Stanford Health Care

Date & Time:  June 13th, 5:00pm - 7:00pm

Location: Stanford Healthcare

7600 Gateway Blvd, Rm 1800, Newark, CA 94560

*Light Dinner Provided*

Contact: Terri Fischer

tfischer@stanfordhealthcare.org

ABOUT THIS SESSION:

2020 budgeting for medical practices is just around the corner... Are you struggling to find additional ways to make the practice more cost-efficient? Are you trying to determine what additional efforts can be considered to finalize the budget? Many medical practice administrators have strategically worked with physician leadership, administrators and caregivers to address cost repositioning, value-based purchasing and care affordability through development and implementation of a comprehensive plan, resulting in significant cost savings. This session will provide a 30 cost saving efforts that have been implemented by medical practice administrators throughout the United States. These ideas are as diverse as the different medical specialties. Their innovation, creativity and practicality provide substantial efforts for consideration. All of the ideas have been fully vetted without compromising the patient experience, quality, safety, or employee engagement. It is hoped that this session will provide participants at least one idea to consider for implementation.

- Review 30 different cost-savings efforts implemented at various group practices

- Describe how these cost-saving ideas were vetted and approached toward implementation

- Recognize the feasibility on whether any of these cost savings can be applied in your medical practice

ABOUT THE SPEAKER: 

MICHAEL O'CONNELL: Michael O'Connell has worked as a consultant with The Advisory Board Company in Washington DC, and in several executive leadership roles at Cleveland Clinic. He has worked for health systems, hospitals and medical groups throughout the Midwest in numerous leadership roles. He is the current Chair of the American College of Medical Practice Executives’ Certification Commission and has served in various leadership roles with MGMA. He is a published author on healthcare and leadership development and has presented numerous times on a diverse range of healthcare topics including Serving Leadership, Cost Saving Strategies, and Sustainability