CEO MICHAEL COVERT ON THE “TRENDS IN MEDICINE”
Article by: Manu Shah
IACCGH kicked off their new Healthcare initiative – the Business of Medicine series right in the heart of the largest medical facility in the world – the Texas Medical Center. President Joya Shukla welcomed the attendees who were primarily from the medical community and highlighted the initiative’s intent to build bridges between the Chamber, the Texas Medical Center and the medical community in Houston and India.
A physician by training, Consul General Dr. Anupam Ray stated that India is poised to be the greatest economy in the world which would necessitate the need to “build India into the global health industry’’
Indira Vishnampet, Board Member of CHI St. Luke’s Sugar Land, introduced Keynote Speaker Michael Covert President and CEO of CHI St. Luke’s Health.
One of the largest nonprofit faith based systems, CHI operates 105 hospitals in 19 states.
Michael Covert spoke of the challenge of bringing disparate hospitals such as the Baylor College of Medicine, Texas Heart and St. Luke’s Medical to create an environment and a common platform where the hospitals, physicians and their missions could come together to form an effective regional Healthcare system. In some plain speaking, he dismissed the idea of formulating a fancy mission statement and instead opted for the “easy to understand and remember” mission statement of “TO TAKE CARE OF PEOPLE.” He also stressed that CHI St. Luke’s Health will focus on using best practices in delivering patient care, cutting healthcare costs and partner with physicians to engage them more effectively.
Reflecting on what the future will hold, Michael Covert stated that Healthcare will shift from volume based to value based with emphasis on patient engagement and satisfaction, lowered healthcare cost, wireless ICUs, online monitoring of patients and housekeeping which can zap microbes in 6 minutes. He pointed out that we have an aging population (above 65 years) which will double in 5-7 years. He spoke of a bundled payment arrangement which will provide medical services and all related costs for a fixed amount.
Janice Lamy, VP Marketing and Communications CHI St. Luke’s Healthcare proposed the vote of thanks. She expressed her pride at supporting the Chamber’s mission of connecting and supporting the communities we live in.
The next Business of Medicine Series will focus on the important roles women play in Healthcare.
Photography by Bijay Dixit