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LifePoint's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: LPNT

We were recently awarded one of 26 Hospital Engagement Network contracts from CMS. We’re one of the four systems and the only investor-owned company to have been awarded a HEN contract. We believe that CMS recognizes the value LifePoint brings to this, based on our expertise of providing healthcare and enroll settings. We will focus on taking best practices primarily developed in large urban hospitals and customizing them to fit the needs of smaller non-urban hospitals.

The goal of this work is to partner with our physicians to improve patient safety and reduce harm. We are excited about this opportunity and hope that our work will ultimately benefit rural hospitals all across the country. This is what our mission is all about, making communities healthier.

A key component of our strategy going forward is developing stronger relationships with our physicians to help optimize clinical outcomes and enhance our mutual success. To the end we are adding structure to our physician engagement effort that will improve communications with our physicians and lead to quicker resolution of day-to-day issues.

In addition, we’re developing and piloting Shared Savings Programs with different physician groups aimed at taking waste and duplication out of the system. While it’s too early to discuss any results, the reaction has been positive.

Acquisitions were also in a row to our success in 2011 and will be a key driver of growth going forward. Clark Regional and HighPoint Health System are performing well and on plan. We believe we are well-positioned to capture incremental market share with the opening of the Clark’s new state-of-the-art facility, which is planned for the second quarter of 2012.

Another element of our acquisition strategy is forming innovative partnerships. In the first quarter, we announced the formation of Duke LifePoint Healthcare and we hit the ground running. This is truly an innovative collaboration that is gaining momentum.

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