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A businesslike hospital gets business's attention
Insights
El Camino Hospital partnered with Hewlett-Packard to create an exclusive provider organization (EPO) arrangement. This collaboration achieved significant cost savings while maintaining high-quality patient care.
Area of Science:
- Healthcare Management
- Health Economics
- Hospital Administration
Background:
- El Camino Hospital, located in Silicon Valley, has a history of emphasizing cost containment.
- The need for high-quality, cost-effective healthcare solutions in corporate settings is increasing.
Purpose of the Study:
- To describe the structure and outcomes of a unique hospital-provider partnership.
- To highlight El Camino Hospital's innovative approach to cost containment and quality assurance.
Main Methods:
- Formation of an exclusive provider organization (EPO) between El Camino Hospital and Hewlett-Packard.
- Structured arrangement focusing on cost containment and high-quality care delivery.
Main Results:
- The established EPO arrangement resulted in significant cost savings.
- The partnership demonstrated a successful model for integrating corporate healthcare needs with hospital services.
Conclusions:
- Business-like approaches in hospital management can lead to financial benefits.
- Collaborative models between corporations and healthcare providers can optimize care quality and reduce costs.
Abstract:
Silicon Valley, home of the avant garde in American industry, is also the home of El Camino Hospital, a well-respected institution where cost containment has long been emphasized. When Hewlett-Packard was looking for a PPO-like relationship with a hospital that could assure high-quality care, it joined with El Camino in a carefully structured--and already money-saving--arrangement. That "EPO," and other programs of this businesslike hospital, are described by its CEO and Associate CEO.