More Than a Snapshot in Time Operational and Finance Diligence Across the Life Cycle of Capital Projects

A healthcare construction project can span 5-10 years from the initial strategic plan, through design, construction and transition to occupancy. Circumstances such as physician alliances, competitive market dynamics, community demographic shifts, payer reimbursement and technology advancements do not remain stagnant during this lengthy process. Will your operational planning process position you to build a healthcare facility to fulfill your needs day one and into the future, or will you be opening a building that met your needs when the business plan was written? Overbuilding clinical services when requirements have changed can be financially devastating from the capital spend to operational workforce impacts. Conversely, underestimating staff requirements can result in safety and quality implications due to a long recruitment cycle.

This session will provide an operational planning approach that not only provides patient and staff flows that are synergistic with facility design but also focuses on dynamic validation of strategy, market dynamics and patient volume projections throughout the life cycle of the capital project. This includes physician input for mutual strategic service line goal-setting and the resultant space and staff requirements ensuring the opening of a right-sized building. Our case studies from recent projects spanning over 2 million square feet of healthcare facilities will highlight the importance of continuous strategy and financial realignments versus following a plan from a snapshot in time.

Learning Objectives:

• Describe an inclusive operational readiness planning approach to a new facility that not only develops an efficient plan for care delivery but also defines a process that regularly assesses stakeholder alignment along with market impacts to allow accurate staffing forecasting and space allocation.
• Discuss a sample strategic/financial assumption and volume projection tool based on market, competitor and internal factors that requires reassessment during various points of project construction to ensure a right-sized facility.

Speakers:

Mary O. Palazzo, RN, FACHE
Operational Readiness Executive
Hammes Healthcare

Katherine Kay Brown, RN
Operational Readiness Executive
Hammes Healthcare

Melody F. Dickerson, DNP, RN, FACHE, CENP, CPHQ
Senior Vice President, Hospital Operations & Chief Nursing Officer
Virginia Hospital Center

Continuing Education Credit

ACHE Qualifying Education Credit

This recording is eligible for 1 ACHE Qualifying Education credit.

ACHE Education credits will be automatically updated in your My ACHE account upon completion of the recording.

Interprofessional Continuing Education Credit

In support of improving patient care, the American College of Healthcare Executives is jointly accredited by the Accreditation Council for Continuing Medical Education (ACCME), the Accreditation Council for Pharmacy Education (ACPE), the American Nurses Credentialing Center (ANCC), and the American Academy of PAs (AAPA) to provide continuing education for the healthcare team.

This activity was planned by and for the healthcare team, and learners will receive a maximum of 1 Interprofessional Continuing Education (IPCE) credit for learning and change. For further information about Joint Accreditation credits and certificates, please click here.

Physician Continuing Medical Education

The American College of Healthcare Executives (ACHE) designates this live activity for a maximum of 1 AMA PRA Category 1 Credits^™. Physicians should claim only the credit commensurate with the extent of their participation in the activity.

Continuing Nursing Education

The American College of Healthcare Executives designates this live activity for a maximum of 1 contact hours of continuing nursing education.

Continuing Pharmacy Education

The American College of Healthcare Executives designates this knowledge-based activity for a maximum 1 contact hours of continuing pharmacy education credit. 

Continuing Social Work Education

The American College of Healthcare Executives designates this knowledge-based activity for a maximum 1 contact hours of continuing social work education credit.

Physician Associate/Physician Assistant Continuing Education

The American College of Healthcare Executives has been authorized by the American Academy of PAs (AAPA) to award AAPA Category 1 CME credit for activities planned in accordance with AAPA CME Criteria. This activity is designated for a maximum of 1 AAPA Category 1 CME credits. PAs should only claim credit commensurate with the extent of their participation.