Navigation Links
Thomson Reuters Launches Campaign to Reduce Healthcare Costs by $4 Billion
Date:3/31/2009

ANN ARBOR, Mich., March 31 /PRNewswire/ -- Thomson Reuters today launched an initiative to help U.S. hospitals reduce healthcare costs by $4 billion over three years while improving the quality of medical care.

The company's Save $4 Billion campaign will offer U.S. hospital CEOs an analysis that shows how their hospitals compare to industry norms and benchmarks in clinical quality, patient safety, financial performance, and operational efficiency. Thomson Reuters will meet with hospital executives to discuss their results and where they should focus improvement efforts to have the greatest impact. There is no charge for these services.

Hospitals also can enlist in the Save $4 Billion campaign and pledge their commitment to reduce costs at www.save4billion.com.

"A recent Thomson Reuters report indicated that 50 percent of U.S. hospitals are now unprofitable. We are undertaking this initiative because many of our hospital customers are under severe financial pressures," said Mike Boswood, president and CEO of the Healthcare and Science business of Thomson Reuters. "By providing a free diagnostic analysis of hospital performance we hope to provide practical insights into how costs can be controlled or reduced without affecting quality."

Silver Cross Hospital in Joliet, Ill., is participating in the project. "As the economic climate increases pressure on hospitals to reduce costs, we also must maintain and build on the quality gains the industry has achieved in recent years," said Paul Pawlak, president and CEO of Silver Cross Hospital. "The Save $4 Billion campaign provides intelligence that helps hospital executives make decisions that strike this balance."

The corporate leadership of VHA Inc., a national health care alliance, also supports the campaign. "The Save $4 Billion campaign can help hospitals mobilize their staffs, focus improvement efforts, and demonstrate their commitment to deliver high-quality, cost-effective medical care," said Amy Anthony, senior vice president of supply chain services at VHA. "We're proud to help support this effort."

Hospital executives will receive the new 100 Top Hospitals(R) Performance Matrix, an executive-level balanced scorecard that assesses hospital performance in nine key areas: mortality, medical complications, average length of stay, expenses, profitability, cash-to-debt ratio, patient safety, overall performance, and adherence to clinical standards of care (core measures).

"The escalating cost of healthcare has many causes, and these causes vary from hospital to hospital," said Jean Chenoweth, senior vice president for performance improvement and 100 Top Hospitals programs at Thomson Reuters. "The challenge for hospital executives is to identify the specific causes within their own organizations. An objective comparative analysis such as this is a roadmap to effective corrective action."

For more information, visit www.save4billion.com.

About Thomson Reuters

The Healthcare business of Thomson Reuters produces insights, information, benchmarks and analysis that enable organizations to manage costs, improve performance and enhance the quality of healthcare. Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and Nasdaq (Nasdaq: TRIN). For more information, go to www.thomsonreuters.com.


'/>"/>
SOURCE Thomson Reuters
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Thomson Reuters Study Finds Step Therapy Programs May Increase Overall Healthcare Costs for Employers
2. Thomson Reuters Announces 100 Top Hospitals Award Winners
3. Shands HealthCare Selects Micromedex CareNotes System from Thomson Reuters to Improve Patient Education
4. Thomson Reuters Publishes Pharma Matters White Paper, The Five Myths of Generic Competition
5. Thomson Reuters Study Tracks Impact of Recession on Hospitals
6. VHA Selects Clinical Xpert from Thomson Reuters as its Preferred Solution for Mobile Clinical Improvement Systems
7. Molecular Oncology accepted into Thomson Reuters index
8. Thomson Reuters Releases 2009 Patent Focus Report
9. Kids and Their Families Are Hit Hardest During Flu Season, According to Thomson Reuters Study
10. Thomson Reuters Launches Liquent PublishPerfect(TM)
11. CMS Selects Thomson Reuters to Help Implement Medicare Medical Home Demonstration Project for Medicare Recipients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... , ... March 24, 2017 , ... ... for contaminated soil, dredged material, and hazardous and non-hazardous materials announced today the ... Pennsylvania. This acquisition will add four additional processing facilities and a vast ...
(Date:3/24/2017)... ... March 24, 2017 , ... Infectious disease affects billions ... the United States, it’s a threat that is constantly changing and evolving. Mediaplanet's ... and offers strategies for the healthcare community to help decrease the number of ...
(Date:3/24/2017)... ... 24, 2017 , ... According to a new study by NCPA Senior Fellow ... obey the rules Congress has directed the CBO to follow. The CBO itself previously ... restore. Yet, it estimates a reduction in employer-based coverage due to the GOP reform, ...
(Date:3/24/2017)... ... March 24, 2017 , ... Mlynarek Insurance ... to families and business owners across eastern Michigan, is connecting with the Oxford/Orion ... with financial difficulties. , The Oxford/Orion FISH Food Pantry works to ensure homeless, ...
(Date:3/24/2017)... ... 24, 2017 , ... As the standards bearer of advanced ... that positions them as the go-to thought leader in all matters concerning oncology ... an always-on, always-fresh news, views and advocacy engine, called ONS Voice. , The ...
Breaking Medicine News(10 mins):
(Date:3/24/2017)... , March 24, 2017 New England Pediatric ... of an award including funding and in-kind service towards ... technology.  "Making blood draws less traumatic ... their whole hospital experience better.  We,re looking forward to ... can help improve care for the kids we treat," ...
(Date:3/24/2017)... Research and Markets has announced the ... Strategies" report to their offering. ... Pain Management in the ... their physical pain, emphasizing consumer survey analysis, including trends over ... adults who have selected illnesses/conditions strongly associated with physical pain ...
(Date:3/24/2017)... 24, 2017 ShangPharma, a leading ... cost-effective drug development and discovery services, technology, ... industry, announced today the intent for a ... be consolidating the Contract Research Organizations (CRO) ... ChemPartner. These entities include ChemPartner Shanghai, ChemPartner ...
Breaking Medicine Technology: