Name: Brad Parsons
Hospital: NEA Baptist Memorial Hospital
Education: Master’s degree in Hospital Administration and Master’s degree in Business Administration
What do you think is the biggest issue facing the health care industry in Arkansas today?
It’s difficult to name just one in the complex health care environment, but I believe cost pressure is the biggest issue. Cost pressures come at health systems from all angles. We work diligently to reduce costs in a number of different strategies, yet are subject to market factors and payer changes constantly.
What about next year? Five years from now?
Technology will change how we think of health care delivery in the future. Continuous monitoring in all types of health stats will be the norm. There are small pockets where this is occurring today, but it will continue to spread. How we interact with the health care system will be fundamentally different and will begin through our smart devices.
What are some of the most significant financial challenges facing hospitals today?
Declining reimbursement and the overall change to value-based care and reimbursement coincides with cost pressure. Health care is changing, but today we have to manage in two worlds – the existing fee for service world and the coming value-based world.
Who will be the disruptive competitors in the future?
I’m not sure who they will be but can guarantee that there will be disruptors in our future. Health care is a very complex industry that makes it difficult to making sweeping change quickly. We will continue to see disruptors who can start over with simple systems that appeal to what patients want today and in the future.
Who can you collaborate with beyond the traditional?
Partnerships are a key component of our vision for the future. As more disruptors enter the market, having solid partnerships in place in a variety of different areas will be critical.