You are a consulting team from a major regional healthcare consulting firm. You have been engaged by the CEO of a major healthcare provider in a competitive environment. The CEO of Medical Center informs you that the Board of Directors has asked that monthly reporting not be limited to financial projections and budget-to-actual reports. Rather, they are becoming concerned with evaluating the Medical Centers performance on value.

The board still has a fiduciary responsibility to ensure the financial health of the organization and member are increasingly concerned with value provided, not just cost. The CEO asks your team to advise her on what she should propose to the board for such monitoring of value.

As you draft your teams recommendations, answer the following questions for the CEO and Board:

1. Why might the Board of Directors want to monitor value and what accountability system would you recommend?
2. Describe your recommendations for how the Board and CEO might create an organizational unit to measure and monitor value. Who do you recommend lead the efforts? What knowledge, skills and training might be helpful for that leader? What department might have prime responsibility and who else in the organization must contribute/be involved?
3. What data, metrics and benchmarking does your team recommend and why?
4. Describe what you anticipate will be the short-term and long-term impacts on revenue and cash flow and why?
5. Analyze the roles and responsibilities of the medical staff leadership in value improvement.
6. What benefits do you forecast for the Asbury Medical Center, the community and patients?
7. Describe how Information Technology might contribute to this value improvement project?