The Economics of Accreditation - 2021 Quality Summit presentation (Non-CE)-The Economics of Accreditation

Video Transcription

Video Summary

In this video, Liza St. Clair, an accreditation clinical product manager, and Robert Bunney, another accreditation clinical product manager, from the American College of Cardiology discuss the economics of accreditation during the Quality Summit 2021. They introduce Kathy Carrito, the director of cardiac services at Lawrence General Hospital, who shares her experiences with accreditation services and how they have benefited their hospital programs. The video discusses the challenges faced by hospital leadership, such as maintaining current programs and cardiac services while also looking to increase revenue and profit margins. It highlights the importance of adopting new technologies and expanding services beyond hospital walls, as well as addressing healthcare equity and social determinants of care. The speakers emphasize the need to focus on strategies outside of labor to control costs, such as supplies, pharmaceuticals, and investments in outpatient services. They also stress the importance of valuing and investing in staff to reduce turnover and engage them in heart failure and chest pain programs. The video shares data on readmission rates, door-to-balloon times, and troponin turnaround times, and how accreditation and quality improvement initiatives have helped improve patient outcomes and efficiency. It concludes with Kathy Carrito discussing Lawrence General Hospital's various accreditations and the value they bring in terms of patient outcomes, reimbursement, and marketing. Overall, the video highlights the benefits of accreditation and the importance of investing in quality care.

Keywords

accreditation

Quality Summit 2021

Lawrence General Hospital

revenue

patient outcomes

cost control

investing in quality care

healthcare equity