June 8, 2015 Print press release (pdf)
Long Term Care Providers Embrace Extended Care Market Transformation and Growth
Over 50 manufacturer, distributor and provider executives attended HIDA’s Extended Care Market Conference.
Alexandria, Va. – Care is shifting rapidly away from institutional settings and into the home, and distributors can help facilitate the shift. That was one of several key messages delivered by long-term care provider and supplier executives at the Health Industry Distributors Association’s Extended Care Market Conference, May 19-20 in Chicago, Illinois.
Other important takeaways included:
- Providers feel pressure to reduce average length of stays. Michael Beal, President, Nursing Center Division, Kindred Healthcare, described how skilled nursing and rehab facilities are under pressure from payors to discharge admitted patients quickly, sometimes in as little as a week. As healthcare moves from a “heads in beds” to a value-based business model, providers are seeking partners that can help them avoid re-hospitalizations and provide better care coordination and quality.
- Fuel costs are a significant home health expense. For Sy Price, Senior VP, Supply Chain & Services, Amedisys, 90% of his organization’s home health costs are driven by labor and clinician expenditures, particularly when caregivers travel considerable distances and have to make trips back to home base to collect supplies. Creative inventory solutions, such as just-in-time (JIT) delivery or direct-to-home shipping programs, can help prevent staff waste and bring huge savings for providers.
- Employee satisfaction remains a top priority. Chris Boldt, VP, Operations, Benedictine Health System, cited an aging workforce, impending nursing shortage, and higher hospital wages as obstacles extended care providers must overcome to retain staff and stay competitive. Organizations value suppliers that can facilitate adoption of advanced technologies that ease workloads and make working environments more attractive to staff, such as telehealth software systems or electronic medical records with inventory solution components.
HIDA’s Extended Care Market Conference is one in an annual four-conference series of events focused on specific healthcare market segments. The next two programs in the series are the Physician Office and Laboratory & Diagnostics Market Conference, November 10-12 in Washington, DC.
For details, go to www.HIDA.org/Events.
Jeff Girardi, 703-838-6110
The Health Industry Distributors Association (HIDA) is the premier trade association representing medical products distribution. HIDA members primarily serve the nation’s hospital, long term care, and physician/alternate care markets. For more information, visit www.HIDA.org.
About the HIDA Educational Foundation
The HIDA Educational Foundation (HEF) is a non-profit organization affiliated with the Health Industry Distributors Association. The Foundation’s mission is to build a more effective and efficient healthcare supply channel through networking, business intelligence, and education.