Trip Umbach conducted this report and found that health care and health care education in Northwest Arkansas are growing and sustaining patient care in the local health economy.
SILOAM SPRINGS, Ark. — Leaders from across Northwest Arkansas gathered Nov. 13 at John Brown University for the NWA Council’s annual meeting to discuss the current state of the region and what the future holds.
The meeting will include the presentation of the Group’s annual report and theNorthwest Arkansas Healthcare Vision 2030: Continuing TransformationThe NWA Council and Heartland Whole Health Institute released a report conducted by Trip Umbach outlining the region’s medical advances and future goals.
Paul Umbach is the founder and president of Tripp Umbach. He said that since the first report in 2018, the NWA Council had taken action towards the creation of a Health Transformation Unit. Local medical leaders met to discuss local issues.
Umbach’s study found that patients seeking treatment outside the region, or “patient spillover,” decreased from about $1 billion in 2018 to $695 million in 2023.
“The new Northwest Children’s is a place where kids in the area had to go off the market and now they can stay in the market and people in the neighborhood are coming in for pediatric care. It’s a great example of this,” Umbach said.
NWA Board of Trustees Chairman and CEO Nelson Peacock said the healthcare sector is outpacing overall regional economic growth, with gross regional product (GRP) increasing by 80% from 2018 to 2023. , which exceeded 37% of the region’s overall economic growth. Tripp Umbach estimates that the sector will reach $6.1 billion by 2030, with a growth rate of 144%.
This study outlined some health system challenges that the region could improve on over the next five years. Tripp Umbach recognized the workforce shortage, the need for specialized medical care, and the regional need for a Level 1 trauma center. This is despite the fact that the state ranks low in terms of health and coverage in the country.
“For some reason, the United States gives less money to Arkansas than any other state, so there is less money available for health care workers like doctors and health care providers and systems like Washington Regional Health Authority and Mercy. 30% less,” Umbach explained.
“With an influx of 15,000 new residents per year, health care providers are grappling with pressure to meet increased health care demand. As regions struggle to recruit and retain doctors, nurses, and nurse practitioners, pandemic-related Labor shortages, exacerbated by burnout among workers, are a critical issue. Rising labor and supply costs, some of which have increased by as much as 60% since the pandemic, are exacerbating these shortages. ” states Trip Umbach’s research.
The Vision 2030 report identifies four strategies to improve Northwest Arkansas’ health care system. their press release The strategy is:
- Advancing value-based payment and health policy reform: Advocating for higher reimbursement rates and value-based care models that prioritize patient outcomes. This initiative aims to ensure financial sustainability for healthcare providers while improving quality and reducing overall costs. This transformation requires the involvement of employers and policy stakeholders.
- Expansion of specialized healthcare services: Develop centers of excellence, attract research-based subspecialists, further reduce turnover, and establish Northwest Arkansas as a destination for advanced, quality care. This includes building partnerships for specialized medical programs and developing a Level I trauma center to meet the needs of a rapidly growing population.
- Expansion of medical personnel: Invest in graduate medical education (GME) through Washington Regional Medical Center and University of Arkansas for Medical Sciences (UAMS) Northwest to increase the number of locally trained physicians. The Alice L. Walton School of Medicine, which opens in July 2025, will complement these efforts by focusing on whole-health principles and ensuring a strong pipeline of medical talent.
- Fostering a collaborative healthcare research and innovation ecosystem: Strengthen research partnerships and increase funding for biomedical research. The establishment of the Institute for Integrated Innovation Research (I³R) at the University of Arkansas positions Northwest Arkansas as a center for cutting-edge health care research, attracting talent and fostering innovation.
“Reducing patient attrition by $255 million is a testament to the collaborative efforts of the Healthcare Transformation Division,” Peacock said in the release. We remain key to achieving our vision of a value-based, patient-centered health system. Although we have built a strong foundation over the past five years, much more remains to be done if we are to achieve our goal of becoming a health system. destination. “
Walter Harris, president and CEO of Heartland Whole Health Institute, added in the release: A focus on preventative and comprehensive care can improve health care delivery across the region. However, this vision requires strategic investments and policy changes to address existing gaps. ”
“Vision 2030 serves as a call to action for continued collaboration and investment to make Northwest Arkansas a leading destination for high-quality, innovative health care,” the NWA Council explained.
“I think the big issue is advocacy and having a single voice to communicate to the federal and state governments and strong collaboration among all the different stakeholders. I think we need to communicate clearly: “There is a need,” Umbach said.
For more information and to read the full report, please visit click here.
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