We’re excited to share the latest episode of The ASHHRA Podcast, featuring an enlightening conversation with Pam Teufel, Senior Vice President and Chief Human Resources Officer at Mainline Health in Philadelphia. Join us as we delve deep into the "business of healthcare," uncovering the complexities and innovative strategies needed to thrive amidst financial challenges.

🎙️ Episode Highlights:

• Pam Teufel's Journey:

From a teenage start at Wegmans and a stint in Broadcast Journalism to a distinguished career in Human Resources across prominent healthcare institutions.

• Financial Strains on Health Systems:

With fewer than 25 systems making a profit, Pam shares how alternative revenue streams and affiliations can spell success.

• Revenue Model Dilemmas:

Discover how Medicare/Medicaid reimbursements and commercial insurance negotiations impact financial viability, and learn about the "silver tsunami" influencing patient demographics.

• Shifts in Patient Care Delivery:

Understand how the transition of procedures to ambulatory surgery centers is reshaping hospital revenues and patient flow.

• Operational Innovations:

Pam discusses joint ventures, lean service delivery, and integrating technology like telehealth and 'hospital at home' setups to save costs and improve care.

• Employee Engagement & Efficiency:

Learn the importance of empowering frontline employees, leveraging AI to optimize task delegation, and removing work-related pain points to foster a committed workforce.

• Patient-Centric Approaches:

From preventive healthcare initiatives to specialized post-discharge clinics, Pam emphasizes the necessity of coordinated care and efficient health management.

📌Key Discussion Points:

• Impact of Preventive Healthcare:

Pam strongly advocates for routine screenings like mammograms and colonoscopies to prevent severe health issues and reduce overall costs.

• Telehealth & Technology:

Post-COVID-19, telehealth's rise from 5% to 15% highlights its role in expanding remote care, complemented by in-home healthcare models supported by technology partners.

• DRG and Payment Systems:

Gain insights into the Diagnosis-Related Group (DRG) billing codes and the challenges hospitals face in balancing costs with fixed payments.

• Supporting the Elderly:

Whether through communal group homes or direct family care, the conversation underscores the vital need for preparing for aging and end-of-life care.

🤔 What’s Next? Pam Teufel shared poignant points on the ever-evolving landscape of healthcare, stressing the importance of early conversations about aging and death, especially for the "sandwich generation" balancing care for both children and elderly parents.

Thank you for being a part of The ASHHRA Podcast community. Stay tuned for more expert insights and discussions to help navigate the future of healthcare.

The ASHHRA Podcast Team

Sponsor information

www.LFG.com/Healthcare

Lincoln Financial annuities, life insurance, and workplace solutions help nearly 17 million customers confidently plan for their financial future. Lincoln Financial. Your Tomorrow. Our Priority. Lincoln Financial is the marketing name for Lincoln National Corporation and its insurance companies and broker/dealer affiliate Lincoln Financial Distributors, Inc.

Support the show

This episode is brimming with valuable insights, particularly for healthcare professionals looking to navigate the complexities of retirement and employee benefits. Hosted by Bo Brabo and Luke Carignan, the episode features the expertise of Rachel Duncan and Kameka Grady from Lincoln Financial, our proud sponsor for January 2025.

Key Highlights from the Episode:

1. Asset Distribution and Financial Literacy:
   
   • Rachel discusses the critical issue of asset distribution in retirement accounts, underscoring the necessity of personalized education. She notes that an astounding 88% of full-time healthcare workers carry debt, which significantly impacts their retirement savings.
2. Supporting the Healthcare Workforce:
   
   • Rachel emphasizes the indispensable role of healthcare workers, portraying them as selfless service providers and unsung heroes. She also shares a touching personal story about her daughter's aspiration to enter the field of nursing.
3. Customization Over One-Size-Fits-All:
   
   • Lincoln Financial adopts a tailored approach to financial education, moving away from a one-size-fits-all model. This strategy includes offering one-on-one support and virtual tools to enhance financial literacy among healthcare employees.
4. Pioneering Solutions with Candidly:
   
   • Rachel introduces Lincoln Financial's partnership with Candidly, a company dedicated to helping healthcare workers with student loan refinancing and forgiveness, achieving an average monthly savings of $400 for participants.
5. Addressing Retirement Challenges:
   
   • Kameka outlines strategies for paying off debts, managing student loans, and creating actionable retirement plans. She also discusses Lincoln Financial’s involvement in the Collaborative for Equitable Retirement Savings, targeting disparities in retirement savings systems by race and gender.
6. Impact of Financial Education:
   
   • The episode sheds light on the significant wealth gap exacerbated by financial illiteracy. Programs like Lincoln Aspires aim to build trust and provide customized financial education to ensure equitable retirement outcomes.

Exclusive Insights for HR Professionals:

• The emphasis on the paternalistic approach of healthcare employers, like CEOs personally writing thank-you notes, highlights the importance of creating a supportive work environment.
• The significance of in-person interactions for benefit education and the successful integration of virtual formats post-COVID-19 is discussed, demonstrating the adaptability required in current times.

Stay Tuned:

The conversation about financial literacy and retirement planning in healthcare continues to evolve. Make sure to subscribe and stay tuned for more enlightening episodes from The ASHHRA Podcast, where we bring you frontline insights to empower the future of healthcare.

Thank you for being part of our community!

Warm Regards,

The ASHHRA Podcast Team

Sponsor information

www.LFG.com/Healthcare

Lincoln Financial annuities, life insurance, and workplace solutions help nearly 17 million customers confidently plan for their financial future. Lincoln Financial. Your Tomorrow. Our Priority. Lincoln Financial is the marketing name for Lincoln National Corporation and its insurance companies and broker/dealer affiliate Lincoln Financial Distributors, Inc.

Support the show

We had the pleasure of chatting with Russell Podgorski, Executive Director of Talent Acquisition at Providence, on this episode of The ASHHRA Podcast. We dove deep into the evolving world of healthcare recruitment, organizational culture, and leveraging technology for talent acquisition. Here are three key takeaways from our insightful conversation:

• Innovation in Talent Sourcing: Russell emphasizes the importance of combining advanced technology with genuine human interactions. By integrating CRM systems and AI, organizations like Providence can tailor candidate experiences and enhance relationship-building, ensuring the right fit beyond just resumes and cover letters.
• Organizational Culture Match: Aligning a candidate's character and leadership style with the organization's culture is crucial. As Russell shared, focusing on soft skills, such as organizational agility and consensus influence, has significantly improved retention rates and leadership effectiveness at Providence.
• Beyond Traditional Applications: Traditional application processes often fall short in capturing top talent. Networking, personal connections, and innovative approaches to recruitment can more effectively identify and secure the best candidates. Technology can play a pivotal role in optimizing this, enabling candidates to be matched with roles that truly suit their skills and aspirations.

Tune in to The ASHHRA Podcast for more on how Providence is leading the way in healthcare recruitment, and gain valuable insights that could transform your approach to talent acquisition!

Best Regards,

The ASHHRA Podcast Team

This episode is sponsored by RxBenefits... Unlock Pharmacy Plan Potential!

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Support the show