LTCITSummitPresentationArlotto

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Information about LTCITSummitPresentationArlotto
Business-Finance

Published on January 15, 2009

Author: aSGuest10708

Source: authorstream.com

Slide 1: A New Way to Think About Value Pam Arlotto, CEO Maestro Strategies, LLC Pam Arlotto : 2 Pam Arlotto President & CEO A national strategy consulting firm focused on helping executives in healthcare obtain value from their investments in information technology. Clients include long term, acute and ambulatory care providers, vendors, associations, regional health organizations and professional service firms. Author, HIMSS all time best seller and winner 2003 Book of the Year on ROI. Recently released: Beyond Return on Investment Expanding the Value of Healthcare Information Technology. Also published in Healthcare Financial Management, Most Wired Online, Journal of Health Information Management, etc. Frequent speaker at national healthcare meetings and featured on National Public Radio and in Wall Street Journal. Past President and Fellow HIMSS Contributions : 3 Contributions April 2007 completed Information Technology - State of the Industry, Multi Facility Research Report Hospital & Health Networks Webcast: www.hhnmag.com/ITplanning Helps community based providers effectively Adopt and implement IT systems by Creating thorough IT Strategic Plans Questions LTC Providers often Ask About IT Value… : 4 Questions LTC Providers often Ask About IT Value… How are we doing today – cost, quality and satisfaction – value of our investment in IT? How do we compare to others in LTC and healthcare in general? What should we invest in? How will this impact us in the future? LTC Leadership View of IT : 5 LTC Leadership View of IT Information Technology is critical toyour organization’s future success! : 6 Information Technology is critical toyour organization’s future success! Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC The Value of IT : 7 The Degree of Change in the Business Total IT and Business Investment Source: “Return on Investment: Maximizing the Value of Healthcare Information Technology” Arlotto, Oakes 2003 Definition of IT Value The Value of IT Success Criteria for Value : 8 Success Criteria for Value Leadership has a unique Vision for IT and its impact on the organization The Vision drives an IT Strategic Plan The plan is governed by an IT Steering Committee Leadership has evaluated the organization’s readiness Gaps have been identified and addressed Leadership has completed the proper due diligence on the IT vendor(s)’s future vision, culture, implementation approach and support Value realization metrics are in place IT Strategic Plans are in place…. : 9 IT Strategic Plans are in place…. Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC Does your Strategic Plan include a Vision for Technology’s impact on your organization? : 10 Does your Strategic Plan include a Vision for Technology’s impact on your organization? Examples, Technology will: Transform senior’s residences into interactive, independent living spaces Drive resident-focused care Expand our reach beyond the walls of the nursing home to the entire community Enable point of care clinical quality, improved documentation and increased satisfaction of residents, families and staff “The vision thing is the CEO’s responsibility…You don’t need to understand every step of how you get there, but you have to understand where it is going to take the organization” Donlon, The CEO IT Steering Committee are less frequent… : 11 IT Steering Committee are less frequent… Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC How ready is LTC for EMR? : 12 How ready is LTC for EMR? Readiness Attributes : 13 Readiness Attributes Senior leadership “buy-in” and realistic expectations regarding “heavy lifting” A formal process redesign approach is in place Project champions and project managers are in place Appropriate Information Technology infrastructure and resources are in place The Steering Committee has a structured decision making process Clinicians understand the implications, gaps and steps toward development of clinical systems Understand vendor’s long term vision and direction What are we automating….. : 14 What are we automating….. Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC What % of our Capital Budgets are Spent on IT? : 15 What % of our Capital Budgets are Spent on IT? Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC Most anticipate increases in both capital and operating spending…. : 16 Most anticipate increases in both capital and operating spending…. In acute care, the median IT expenditure per bed was $5,556 in 2006. The median operating costs were $12,060 per bed representing a 4.5% increase over 2005. Information Technology - State of the Industry, Multi Facility Research Report, April 2007, Maestro Strategies, LLC Slide 17: 17 Slide 18: 18 For more information: www.maestrostrategies.com

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