Boosting Existing Services and Operating More Efficiently is Top of Mind for Health Care Executives, Survey Finds

Proskauer launches new health care survey, exploring how close health
care organizations are to achieving The Triple Aim as they journey from
fee-for-service to value-based care

NEW YORK–(BUSINESS WIRE)–International law firm Proskauer today released the results from its
inaugural health care survey, Checking
Up on the Quest for the Triple Aim
, which finds streamlining
operating costs and improving data privacy and security are primary
business concerns for health care executives—with a third (32%) ranking
these objectives as a “top three” business challenge over the next year.

“As the health care industry continues to evolve and new players enter
the space, it’s imperative for health care executives to understand
where they are thriving, where they are falling short and have a clear
plan for the year ahead,” said Richard Zall, partner and chair of
Proskauer’s Health Care Group. “Identifying the core challenges and
opportunities executives face allows our clients to be even more
successful in navigating the evolving landscape.”

In considering the three pillars of The Triple Aim—a framework from the
Institute for Healthcare Improvement that focuses on reducing health
care costs, improving the patient experience and improving the health of
populations—the survey found:

  • Health care companies are eager to improve patient experience and
    service efficiency.
    When asked about the top industry-wide changes
    required to better promote value-based care, executives noted
    improving employee training in the use of electronic data (44%),
    incentivizing participation in existing information sharing consortia
    (37%) and incentivizing vendors to offer EHR products that are
    interoperable (36%) as the top changes required.
  • Technology is a focal point for health care M&A targets. To
    overcome emerging business challenges, 31%—the plurality—of
    respondents (with an identified target in mind) cited a technology
    company to acquire artificial intelligence capabilities as their top
    M&A target in the next 12-24 months.
  • Aside from GDPR compliance, cybersecurity is still a shortcoming
    for health care organizations.
    When asked to select which measures
    are being taken to protect against cyber threats, no more than a third
    of health care organizations currently leverage any single
    cybersecurity best practice, such as implementing an accident response
    plan or using data encryption.
  • Health care executives and regulators have become greater allies,
    not adversaries, when it comes to improving outcomes.
    When health
    care executives were asked to rank CMS on a scale of one to 10 (with
    10 being highly effective) when it comes to fostering innovation, more
    than half (52%) of executives gave CMS a score of 8 or higher.
    Additionally, only 15% of health care organizations cited complying
    with federal, state and local regulations as a top three most pressing
    business challenge in the year ahead.

This survey was commissioned by Proskauer and conducted by Rabin
Research Company, a market research firm based in Chicago. Results are
based on 100 completed surveys of C-suite health care executives from
across the care continuum. The survey was conducted in February 2019.

Additional information about the Firm can be found at www.proskauer.com.

Contacts

Jennifer Talbott
Proskauer
Media Relations Manager
[email protected]

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