Value RX: Giving Patients a Voice
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ValueRx [email protected]
Transcript of Value RX: Giving Patients a Voice
ValueRx [email protected]
2© Barry Libert, Not to be distributed
Its time to Play Jeopardy
Please phrase all of your answers in the form of a question!
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� CREATING VALUE IN BUSINESS
NIS HEALTH CARE DIFFERENT?
The categories for today are
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1st Category: Creating Value
C$100 -- The Patriots
i $200 – It can help with your spelling
l $300 -- Trees are worth $150 here
e$400 -- It was invented in 1494
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2nd Category: Is HC Different?
I $100 – They are called patients
c$200 – Peers are preferred source
$300 – Even not-for-profits measure it
f $400 – Every one uses it
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The numbers tell all…
0
500
1,000
1,500
2,000
2,500
3,000
1981 1983 1985 1987 1989 1991 1993 1995 1997 1999
Year
Market Value Book Value
Millions ($)
2001
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…for Health Care as well
0
500
1,000
1,500
2,000
2,500
3,000
3,500
19811983 1985 1987 1989 1991 1993 1995 1997 1999
Year
Market Value Book Value
Millions ($)
2001
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� Invest in relationships
oUnderstand the risks
i Get and stay connected
nMeasure what matters
The 4 Rules of Success
9© Barry Libert, Not to be distributed
Its Now Time for Double Jeopardy
All the dollar values are doubled
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A: AOL has 200 M of them
Q: What are customers?
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� Old: Buildings and money
New: Customers, Employees, Providers
, Next: All of the above
•Rule 1: Invest in relationships
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A: It was worth $80 billion
Q: What is (was) Enron?
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� Old: Avoid them
mNew: Quantify them
t Next: Manage them
•Rule 2: Understand risks
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A: “Can you hear me now?
Q: What is technology?
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� Old: In Doctor’s offices
’ New: Across the organization
eNext: With everyone, everywhere: 24 X 7
•Rule 3: Get and stay connected
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A: Every business uses it
Q: What is GAAP?
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Liabilities
Assets
Balance Sheet
Net Worth
Revenues
Expenses
Income Statement
Net Income
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� Old: Tangible assets
aNew: Intangible assets
eNext: Everything
•Rule 4: Measure what matters
23© Barry Libert, Not to be distributed
Final Jeopardy
Rules for Success
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� My Family
�Today’s take-a-ways
The final categories
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A: My wife was right
Q: What is everything?
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� Invest in relationships
oUnderstand risks
oGet and stay connected
nMeasure what matters
The 4 Rules of Success
28© Barry Libert, Not to be distributed
“If I fulfill this oath and do not violate it, may it be granted to me to enjoy life. If I transgress it…
may the opposite of all this be my lot."
-- Hippocrates, 377 BC
29© Barry Libert, Not to be distributed
Thank you!
