10:55 - 11:40 amSaturday, September 17
LK 102
Empowering patients with transparency and convenience and the future of the patient's financial experience
LK 102
Empowering patients with transparency and convenience and the future of the patient's financial experience
4sight Health
CFO at Lancaster General Health, MBA, CPA, CHE
Patients are simply people in health care situations. A core challenge being that higher financial responsibility prohibits many (most) people from knowing the basics as well as they would outside healthcare,... Read more

Description

Patients are simply people in health care situations. A core challenge being that higher financial responsibility prohibits many (most) people from knowing the basics as well as they would outside healthcare, including what costs they will face, what value they get, and how to choose well. These disparities with everyday life sometimes scream out, loudly, to today’s healthcare consumer.

Led by returning Medicine X speaker John Adractas, this panel will explore how consumer empowered experience norms and health care transparency trends are shaping the future of the patient’s financial experience. Highlights will include discussions of ratings, scheduling, and estimates. Panelists include healthcare leaders and experts on innovation in transparency and transforming how patients make decisions.

In closing, we will analyze health care’s transition from a transaction to an experience model for the patient’s financial journey, and the emerging strategies needed to succeed.

 

John Adractas is the Chief Growth Officer for Simplee, a fintech company focused on health care and transforming the patient’s financial care.

John brings 15+ years in high growth technology leadership across Fortune 100 (Google) and entrepreneurial (education, healthcare, and financial services) environments. John is an innovation evangelist and a frequent speaker a cross financial services, healthcare, and technology. He was a professional pianist earlier in his career.

John holds an MBA from Harvard Business School and a BA in mathematics and philosophy from the University of Pennsylvania.

Mr. Dennis R. Roemer, of Lancaster, joined Lancaster General Health as Executive Vice President and Chief Financial Officer in April 2012. He had responsibility for directing all aspects of the organization’s strategic and operational areas of finance and serving as one of the CEO’s two key advisors for development of strategic direction. In his role as EVP & Chief Financial Officer, Mr. Roemer concentrated primarily on payer strategy and financial planning and analytics for the organizations’ population health management initiatives, corporate finance and IT services integration with Penn Medicine, financial and management reporting, treasury and investment management, decision support, capital planning, performance improvement, supply chain, business planning, payer contracting and strategy development, revenue cycle, rolling forecasting, cost reporting & reimbursement, workforce management, assistance in development of business intelligence and executive dashboards, and several special projects as assigned by the Office of President.

 

Mr. Roemer previously served as Senior Vice President of Finance and Chief Financial Officer for Georgia Health Sciences University and MCG Health System, in Augusta, Georgia. In that role, he had oversight of all aspects of finance related to the Adult Medical Center, the Children’s Medical Center, the ambulatory care clinics of eight different locations, the Physician’s Practice Group, a multispecialty group of 700 practicing physicians whom devoted their time to clinical care, research and medical education, and the five colleges of the Georgia Health Sciences University, including the School of Medicine and the Colleges of Nursing, Graduate Studies, Allied Health and Dentistry.  Functionally, this level of responsibility spanned across a $1.2 billion enterprise.

 

Prior to being appointed to the role described above, Mr. Roemer served as Executive Vice President & Chief Financial Officer for MCG Health, Inc. He administered all activities relating to revenue cycle, decision support and business planning, operating and capital budgets, supply chain/procurement, financial reporting, investor relations, treasury, investment management and all financial operations and reporting.  Mr. Roemer also partnered with the Chief Medical Officer to oversee several aspects of clinical and operational activities for which performance improvement activities brought enhancements in patient safety, quality, clinical effectiveness, and financial performance.

 

As the Chief Financial Officer for MCG Health, Inc., Mr. Roemer organized and led several major initiatives including renegotiating the contracting terms with the organization’s four largest commercial managed care contracts [added $28 MM per year to patient revenues], spearheaded other efforts in revenue cycle that brought days in A/R down from 68 to 42, built a forecasting tool and business planning regimen, and issued $135 MM of creatively-structured variable rate instruments to be the major funding source for a $175 MM project to reinvest in MCG Health, Inc.’s clinical programs and infrastructure.  During his tenure at MCG Health, Inc. the liquidity position improved by $91 MM or 81%, and its operating earnings held steady in spite of the increased operating expenses associated with a major project and its financing, and a drop in annual State and disproportionate share funding of $11 MM.

 

Prior to Georgia Health Sciences University and MCG Health Inc., he served as Senior Executive Vice President and Chief Financial Officer at Cooper Health System in Camden, New Jersey.  There he helped to transform the organization from near bankruptcy into one of the state’s top-10 performing health systems. 

 

Finally, before joining The Cooper Health System, Mr. Roemer served as a Partner in the Cleveland, Ohio, office of KPMG Consulting/Bearing Point, where he provided consultation to over 50 major healthcare organizations including the University of Pennsylvania Health System, Duke University Health System, Temple University Health System, University of Michigan, Catholic Health East, and the Cleveland Clinic Foundation.

 

Dennis earned his Bachelor of Business Administration and Master of Business Administration degrees from Cleveland State University.  He is a member of the American Institute of Certified Public Accountants, Pennsylvania Institute of Certified Public Accountants, Healthcare Financial Management Association, and the American College of Healthcare Executives.  Mr. Roemer received the James J. Nance Award for outstanding scholarship and community service from Cleveland State University in 1977 and earned the Elijah Watt Sells Award for his proficiency on the Uniform CPA Examination, finishing #3 in the State of Ohio and in the top 50 in the country. Dennis was also selected by Becker’s as one of the top 150 CFOs to know in 2014.  Mr. Roemer serves on the Board, Finance & Executive Committees of The Pennsylvania College for Health Sciences, the Board & Building & Property Committee of Schreiber Pediatric Rehabilitation Center, The Economic Development Finance Committee Board of Trustees, The Finance & Investment Committee of EDCF, The Lancaster City Alliance Board of Trustees, and the Board of Trustees of LINK and Novastream, two for-profit technology service companies. Dennis speaks frequently at healthcare conferences including those sponsored by Marcus Evans, HFMA, NY rating agencies, and other organizations, dealing with topics ranging from strategy to financial operations and investor relations.

 

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