Mayo gets the full-length treatment in the Wall Street Journal today, in a generally glowing feature by Ron Winslow.
Among other items right off the bat, it credits Mayo with being 153 years old and says "pioneered the concept of patient-centered care," which I don't think is Mayo's unique breakthrough.
But it goes through the penny-pinching and DMC initiatives that are designed to "overhaul a business that's working," as the headline says.
Here are key points, since you may not get through the paywall.
..."Mayo, long insulated from many (market) forces, is no longer immune, says Dr. Noseworthy. "'We're going to be paid a lot less for the work we do.'"
..."The overhaul, called the Mayo Clinic 2020 Initiative, is well past the halfway point, and officials are seeing results of more than 400 projects aimed at squeezing costs and improving quality in services ranging from heart surgery to emergency-room waiting time. Dr. Noseworthy says dozens of major re-engineering projects have helped cut an accumulated $900 million in costs in the past five years.
"The clinic is also seeking new areas for growth. Mayo took the lead—including committing $3 billion of its own capital—on a $5.6 billion urban-development project now under way to transform its headquarters city of Rochester into a destination medical center to better compete with rival institutions in Cleveland, Baltimore, Boston and Los Angeles."
..."While Mayo is 'an American treasure,' says Donald M. Berwick, former acting administrator of the Centers for Medicare and Medicaid Services, the clinic, as with most of the U.S. health-care system, is 'too expensive and they need to find ways to deliver the same or better care at a lower cost.'"
..."Outside analysts have provided the clinic with projections that over the next five years its reimbursement could decline 5% to 20%. 'The storm,' Dr. Noseworthy says, 'is still coming.'"