From CFO to Cancer Research–A Conversation About Challenging Assumptions [PODCAST]

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From CFO to Cancer Research — A Conversation About Challenging Assumptions

In this episode, Ted Giovanis, President of the Jayne Koskinas Ted Giovanis Foundation for Health and Policy, discusses from CFO to cancer research, a conversation about challenging assumptions.

Highlights of this episode include:

What drives hospital CFOs to keep taking on entirely new challenges

One thing about how healthcare operates today that we should fundamentally rethink

A question about healthcare we’re still not asking

Return on investment when it comes to scientific research that may take years to pay off

Which is more expensive for healthcare, trying something new that might fail or continuing to do things the way we’ve always done them?

What lessons to apply for improving healthcare and cancer research

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Kelly Wisness: Hi, this is Kelly Wisness. Welcome back to the award-winning Hospital Finance Podcast. We’re pleased to welcome Ted Giovanis. Ted has been the president of the Jayne Koskinas Ted Giovanis Foundation for Health and Policy, which conducts research in metastatic breast cancer and health policy. He is also a professional race driver and team owner in the International Motorsports Association Racing Series. Examples of health policy research that their foundation has conducted include research on the value of hospital tax exemptions relative to hospital-provided charity free care, how to explain health plan prices and quality information to individuals with varying degrees of numeracy and literacy, and defining meaningful quality measures, including the weighting of those measures into aggregate measures for communication to patients. While in practice, Ted was involved in several legislative efforts that resulted in the establishment and implementation of several payment mechanisms, including the Medicare Geographic Review Board and Section 508 reclassification process, the policy for the payment of the certified registered nurse anesthetists, and the long-term care payment systems for various states. Most notably, Ted discovered and prosecuted the Medicare budget neutrality error, which was the basis of the rural floor budget neutrality appeal and related settlements that at the time was the largest settlement Medicare had lost.