DEVENY: Yes. We now need to be more precise with all our functions, so doing something at 80% quality is unacceptable. We've either got to find a partner, do it ourselves or outsource to someone who can do it at 99.9% accuracy, whether that is laundry, food service or billing. The key is building contracts that are based on outcomes, involving penalties and bonuses for vendors, so that our leaders can focus on care delivery rather than the quality of those services.
KERNDL: This year we outsourced our business functions for the first time, and we've seen enormous impact from just having consistent data. Our hospital-based business systems did not give us the full picture we now have on revenue cycle issues. The impact of outsourcing these functions has been purely net revenue lift.
TAYLOR: It seems that many health systems are working hard to refocus their efforts on the fulfillment of their missions. To the extent that business functions can be standardized, streamlined and structured in a way that the leadership of the hospital system doesn't have to really worry about them, administrators can then shift time and attention to more strategic and mission-oriented goals and objectives.