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Medassets CEO John Bardis on how the company helps reduce health-care costs and his efforts to help returning veterans find civilian jobs.
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This guy -- let's get to be affordable health care -- with and it it mandates.
Price transparency for hospital services meaning lay it all out explain to people what they're going to have to pay.
And that's actually believe it or not left many health care provider scrambling to adhere to the new regulation what you mean we actually have to explain overcharging people for just one company met assets says it's consulting services.
Make this a much easier process let's get to John part -- he is chairman CEO and president of bad assets and and the stock up more than 30%.
-- for years so clearly this affordable health care act is great for you guys what are people calling you up and saying help me do.
-- no matter what happens with the Affordable Care Act and how markets move.
Hospital on health systems are looking to reduce costs.
Realizing that we're gonna see twenty million people come into the system with payment levels that are probably lower than today's current market.
Cost will be the key issue.
What -- the services that are hot one hospitals call -- weapons say John you've got to help me out.
You know when it comes to price transparency.
People are not told that advances that the issue of what -- be charged with the may only see it later.
Well the price of what the consumer -- receives vs what's actually paid.
Is often times slightly different because of discounts that insurance companies receive them and so that's -- -- area but the key area.
In addition to that is how to reduce the actual cost of of the delivery of care and that includes the price of high cost medical devices.
Utilization of those devices.
Care planning and processes which and often -- times are different was by institutions so how do you go to best practice of so for example if you look at Kaiser Permanente in California -- they have fantastic.
Practiced plans in physician integration or advocate out of Chicago.
That has a very strong -- -- -- physician partner group that helps manage care.
How do we connect the local physician groups with the institutions to drive care one that's less expensive and most efficient.
What about the olds stories that you used to here where if somebody would open a -- and a baby powder -- baby powder used one or two sprays and then charge somebody fifteen dollars for the whole bottle.
That kind of thing are we eliminating some of that due to the affordable health care act for people realize -- can't really get away without any more.
Well I think the nomenclature that has been used as to how you fill a patient is is in place largely because of the federal government -- -- can't charge for services that you can charge for things so that's how you ended up with a seven dollar and don't tell.
High gas and so at the end of the day it is how the costs associated with the overall -- not just the cost of the items and how their nomenclature.
Will make the most sense to focus on but actually how you deliver that care the cost of the components of that delivery.
And then making the real cost of those components transparent to the consumer what can you promise me if I'm a client of yours.
That we will reduce your costs.
We will help bring in best practice for delivering patient care and we will allow you compare that not only to the past but to the future and what is best practice across the country.
We have underneath your name and and by the way you've just rung the bell at the NASDAQ because you created an organization.
Called higher heroes where you get people to higher.
Our veterans if there's one thing.
That you would say about hiring of veteran to a potential employer.
Reported being why should we hire these people having you have to sell me or David Hasan as a marine but for people out there watching who may have positions open.
I certainly -- son as a -- again and we thank him for his service.
First and foremost -- is the returning -- the first place.
And the job line and the economic opportunity line that they fought to preserve for all of us Americans.
So that's number one and number two these are incredibly.
Well trained intelligent individuals who when they transfer the skill sets from military service.
Find that they had a great deal to the civilian workforce so -- giving them to transfer and understand nomenclature -- the facility civilian sector where they do their amazing.
Well it's it's just a little bit of training and a and a lot I have a lot of let's we have reach out and help these guys look at this unemployment rate for veterans higher.
Than the national average and so we want to help those guys and and by the way it's perfect timing because tonight.
-- -- honoring Terry Duffy the Chicago Mercantile Exchange as our building homes for hero hero at our gala tonight this is a charity I work with.
And that it just works perfectly for all of that because I know these these veterans who have who have come back some of them can't find jobs.
We have a -- David you remember we have somebody come on about four years ago the only job he could find in a tough job market.
Was to work at at I believe it was a municipal golf course to which he had to drive two hours to and from so I mean come on we can do better for our veterans can't wait.
-- We most certainly can and we have a moral obligation to do so and as Americans who enjoy the freedom that was created by our fighting men and women.
We have to do -- every day and -- in the front of our minds of yesterday -- task.
Well thank you so much we do appreciate all that you have done and we also want to mention by the way that your on the board of USA wrestling so make sure wrestling states.
We have to you about not enough -- -- shares lead has been yet chairman of our board to preserve Olympic wrestling gov or at thanks John good to see at.
You to thank you live -- cannot regard as thanks for the show.
