HC3 March Newsletter | 03.02.2021
HC3 Members and Partners:
As a lifelong Chicago-area native, March is always filled with great anticipation of warmer and sunnier days ahead. Just as the sun melting the snow indicates we are nearing Spring, recent developments – Chicago’s positivity rates reaching an all-time low and the FDA approving a third vaccine – signal that perhaps we have turned a corner in our quest to combat COVID-19. While there may still be cooler temperatures and deterrents that impede a quick transition on both fronts, I remain optimistic that brighter days lie ahead and that we will be able to reconvene safely in person before the end of the year. In the interim, we will continue our efforts to support and advance our health care community virtually.
Below, I have provided a recap of HC3’s February activities and an update on March events.
In early February, we kicked off our events virtually for 2021 with our Annual State of Chicago Health Care Forum in tandem with the release of our 2020 Report. If you were not able to join us you can read the recap or watch the webinar here, and read the report on our website here.
At the end of last week, we published a white paper examining the financial vitality of safety hospitals serving the city’s south and west side neighborhoods. The initial concept of this report was conceived during our 2019 Safety Net Forum. We are thrilled to finally be sharing this critical overview of The Challenging Future of the Chicago Safety Net. The report is available to download here.
WBEZ did a feature on the report interviewing HC3 co-founder David Smith. “We cannot do this for another three or four years and expect that we are not going to see the threat of more hospital closures, more job loss, while health does not get better,” Smith said. “This does not have to be our future.” Read the full article here.
We will host a community conversation on March 18 to review the report’s findings with our sponsors Medical Home Network and Sinai Chicago, along with other stakeholders. You can learn more and register to attend for that event here.
This Thursday (March 4) we will continue our Transformation Series by examining the economic impact of COVID-19 with three Chicago-area CFOs. Next week (March 9), in partnership with HC3 Member Ziegler, will also host a solutions-based discussion around decentralized clinical trials.
As always, your feedback and insights are what allow us to do better on behalf of our local community. Feel free to reach out any time to me at Meghan@HC3.Health.
Health Care Council of Chicago
Upcoming HC3 Events
STATE OF THE STATE: Economic Impact Thursday, March 4 at 12 noon CT
On March 4, HC3 will convene the CFOs of three local hospital systems to weigh-in on the financial impact of COVID-19 and how they are focusing their efforts to recover and rebuild their operations, changing their business composition and bracing for the impending recession.
SOLUTIONS: Decentralized Clinical Trials Tuesday, March 9 at 11am CT
In collaboration with Ziegler, on March 9, HC3 will host a discussion exploring the benefits of decentralized clinical trials. In this conversation, we will hear from experts developing the technologies and implementing solutions-based approaches to support clinical trials being hosted outside of their normal structures thanks to technology advancements.
The Challenging Future of the Chicago Safety Net Thursday, March 18 at 12 noon CT
The Health Care Council of Chicago, with support from Medical Home Network and Sinai Chicago, is pleased to announce the release of “The Challenging Future of the Chicago Safety Net” – a white paper examining the financial vitality of safety net hospitals serving the city’s south and west side neighborhoods.
Using retrospective financial data, the paper illustrates that the city’s safety net hospitals will collectively bear $1.76 billion in compounded operating losses by 2024, not accounting for the financial duress of the COVID-19 pandemic, the deepening recession, and any other substantial changes to volumes or costs since 2018 (the period through which our modeling is based).
During this virtual event, David Smith, founder and CEO of Third Horizon Strategies and co-founder of HC3, will provide an executive summary of the collective findings. Afterwhich, a panel of health care thought leaders will discuss the economic, political, and structural barriers to a sustainable system and offer ways policymakers and providers can embrace a transformative approach to Chicago’s indispensable safety net.
Upcoming HC3 Members and Partners Events
Dentists and their teams play an important role in encouraging patients to get the COVID-19 vaccine. On March 3 the American Dental Association is hosting a webinar to strengthen confidence in promoting the vaccine with proven tools to dispel misinformation, listen to patient concerns and discuss the vaccine in a culturally sensitive manner. (Register to attend here) On March 4, as part of MATTER and Hillrom's will host How AI Will Transform Clinical Decision Making as part of the Healthcare 2040 event series. During this event, Microsoft Health Next Corporate Vice President Dr. Greg Moore will share his perspectives on how AI-enabled tools will transform clinical decision making over the next 20 years and how these emerging technologies will reshape diagnosis and treatment in the future. Following the keynote, Hillrom Global VP of Medical Affairs and Informatics Carlos Urrea will moderate a discussion with Dr. Moore and Hillrom Senior VP and Chief Technology Officer Brian Lawrence about how clinical decision-making will continue to evolve through leveraging AI. (Register to attend here) 1871 is hosting their annual International Women’s Day forum on March 5. This year’s theme is #ChooseToChallenge, a call for all individuals to challenge gender bias and inequity in order to create collective change toward a more inclusive world. (Register to attend here)