State of Healthcare in the Triangle

It’s no secret that the Triangle is growing at an incredibly rapid pace. It’s also no secret that healthcare providers must keep up with that growth. Part of the appeal of the Triangle are the number of exciting, high-paying jobs that must be filled. But getting the best talent requires offering the best quality healthcare and that costs money.

Knowing how important healthcare is to companies and their bottom line, we were excited to see our list of speakers at this year’s Healthcare Forum, which took place on Aug. 14 at the Raleigh Convention Center. Our panel discussion included Steve Burriss, the president of UNC REX Healthcare, Donald Gintzig, the president and CEO of WakeMed Health & Hospitals, and Dr. Michael Spiritos, the chief medical officer with Duke Raleigh Hospital. The forum opened with a look at the state of healthcare from Fred Bayon, national spokesperson with The Advisory Board Company, a for-profit, publicly-traded research, technology, and consulting firm serving more than 4,400 leading hospitals and health systems.

“We are hearing one word, disruption,” said Bayon. “We’re at a time when all parts of the economy are being disrupted. A lot of innovators are looking at healthcare. They think how can we get in there, improve it, and get a piece of that business.”

Bayon said there are three themes that have the potential to disrupt healthcare: the rise of mega mergers, the resurgence of activist employer, and the impact of a shifting demographic.

“We could be looking at a radically different marketplace a year from now,” he said.

Bayon added, “We are seeing more employees manage their healthcare design more actively. Employers are getting more discerning about finding the right specialists in the market.”

As for the different age brackets of healthcare consumers, Bayon said millennials have vastly different demands than the middle-aged population.

“It demands an expanded set of services,” he said. “Millennials are the largest generation and they will be driving the disruption we see in healthcare. They are knocking at the front door of the healthcare delivery system.”

Carol Wagoner of Hill Chesson & Woody Employee Benefit Services, LLC moderated the panel discussion with the hospital executives. She asked the panelists what they see the hospital environment looking like in the Triangle 10 years from now.

“We are very fortunate to live in an area that is growing at a very fast pace,” replied Gintzig. “We are a hot bed for technology and education, and a great place to be for those who are retiring. Those groups are still going to want good health insurance. You don’t want to be the one that doesn’t offer great benefits to get someone to come to work for you.”

Burriss said he expects to see a surge in skilled nursing facilities and home health. “Hospitalization nationally is decreasing, which is a good thing,” he said.

Spiritos said, even with the pressures of disruption, there must always be a focus on the patient. “The patient is at the center of everything,” he said. “Everything starts with the patient-doctor relationship. We must continue to hear the voice of the consumer and engage with them to show them what this evolution looks like.”

Burriss told the audience, “Look at us as healthcare people, not hospital people, in this changing world.”

We thank all of our speakers, everyone who attended the forum, and all of our sponsors who made the event possible. If you would like to catch up on more of the discussion, you can check out the official Twitter hashtag, #GRCCHealthcare18, which was among the trending topics in Raleigh for the day.
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Please also join us on Sept. 11 at the Raleigh Chamber/CPI Security First Responders Appreciation Breakfast on the floor of PNC Arena. You will be able to join hundreds of other business and community leaders as we all thank our local heroes who risk their lives every day to keep us safe.