TACOMA, WA, October 23, 2012 /24-7PressRelease/
-- Sound Physicians Chairman Edward G. Murphy, MD will share key opportunities and challenges for providers and hospitals considering forming an ACO and the role of hospitalists in that delivery model at the 3rd National Accountable Care Organization Congress on Oct. 31.
"For an ACO to be financially-viable, a strong framework and system for performance management must be in place on day one," said Dr. Edward G. Murphy. "Otherwise early losses will put the ACO behind from the beginning."
Dr. Murphy led the conversion of Carilion Health System to an integrated clinic model in 2006. His insights on ACOs draw upon his experience working with the Brookings Institution in their ACO demonstration project and the collaborative ACO initiative between Carilion Clinic and Aetna announced in 2011. Comparing ACOs to existing healthcare delivery models, Dr. Murphy will share with healthcare leaders at the congress how ACOs can be a practical alternative for health system leaders. Dr. Murphy will also share how hospitalists can positively impact the quality and efficiency of inpatient care delivered through an ACO.
"More than 50% of healthcare spending occurs from three days prior to an acute care admission through 30 days post discharge," says Sound Physicians CEO, Robert Bessler, M.D. "We believe that our organization plays a key role in helping ACOs and other capitated models by improving quality and controlling inpatient spending."
The three-day conference runs from Oct. 30 to Nov. 1 and will attract executives and board members from health plans, health systems, hospitals and physician organizations.
Sound Physicians' senior vice president Amin Neghabat, will join Dr. Murphy in presenting at the conference, sharing how Sound Physicians helps reduce the overall cost of care in capitated models by driving improvements in quality, satisfaction and financial performance.
Building an ACO Framework: Opportunities and Challenges for Providers and Hospitals
Edward G. Murphy, M.D., Chairman, Sound Physicians
Amin Neghabat, Senior Vice President, Business Development, Sound Physicians
Oct. 31, 2012, 2:30-3:30 p.m.
Third National Accountable Care Organization (ACO) Congress
Beverly Hilton Hotel, Los Angeles, Calif.
About Edward G. Murphy, M.D.
Edward G. Murphy, M.D., is one of the nation's most renowned leading physician executives, having been named to Modern Healthcare and Modern Physician's annual rankings of the 50 Most Influential Physician Executives for seven consecutive years (2005-2011). Dr. Murphy joined Sound Physicians as chairman in 2011 after 10 years of service as the CEO of the Carilion Clinic, in Roanoke, Va. He led the not-for-profit healthcare organization's 2006 transition from a hospital-based system to a multi-specialty practice including more than 600 physicians, eight hospitals, a large array of tertiary referral services and a multi-state, outreach laboratory service. In 2007 he began work on a medical school in partnership with Virginia Tech. The Virginia Tech Carilion School of Medicine opened in 2010 with a charter class of 42 students. In 2009, Dr. Murphy was among 30 U.S. health-care executives that Healthcare Magazine said "excel on the leadership side of health care in an extraordinary manner." During Murphy's tenure, the 11,000 employee organization saw its annual net operating revenues reach $1.2 billion. Prior to his affiliation with Carilion Clinic, he served as President and CEO of Seton Health System in Upstate New York.
About Sound Physicians
Sound Physicians is a leading hospitalist organization focused on driving performance in quality, satisfaction and efficiency of inpatient health care delivery. By investing deeply in outstanding physicians, clinical process excellence and its proprietary workflow and informatics technology, Sound Physicians improves the delivery of inpatient care. Sound Physicians aligns with healthcare providers to measurably enhance patient outcomes and strengthen its partners' financial performance. To learn more visit: www.soundphysicians.com
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