On July 11, 2011, the same day Congressional talks with the White House to find a solution to cap the Nation's ever increasing debt started heating up, at the Nelson Mullins Annual Healthcare Conference, Senator William Frist informed an audience of close to 100 of country’s leading players in healthcare IT that they, the private sector, would need to play a key role in reining in the debt.  Senator Frist explained that as the Affordable Care Act focused on expanding coverage and not on cost containment, any thoughtful solutions to the Nation's debt problem would start with the private sector essentially reforming the Medicare system using healthcare IT solutions to bend the cost curve down. 

This year's Healthcare Conference was a joint effort of Nelson Mullins and K-Global, a strategic consultancy with offices throughout the United States and particular expertise in brand reputation, policy and advocacy.  Among the attendees were leading investment bankers, lenders, private equity investors, and venture capitalists focused on the healthcare information technology industry, along with senior executives of healthcare providers and service companies and the members of Nelson Mullins’ National Healthcare and Life Sciences Practice Group.

After Senator Frist's Key Note Address, attendees were treated to a fast-paced panel discussion surveying the current healthcare political landscape as well as the strategies and challenges for the HIT industry.  The panel was moderated by Rebekah Plowman of Nelson Mullins and participants were Monika Brown, Vice President Corporate Strategy and Business, McKesson, Brenda Gleason, Founder of M2 Health Care Consulting, Dr. Humayan J. Chaudhry, President and CEO of The Federation of State Medical Boards, Jonathan D. Linkous, CEO of The American Telemedicine Association, Paul Johnson, CEO K-Global and Alexis Gilroy of Nelson Mullins.   

Among the nuggets that were shared that day were the following:

• Among all voters, including independents, the top two issues for the 2012 presidential election include the economy/jobs and health care.  Senator Frist cited GAO figures showing that at the current rate, the Debt as a percent is expected to exceed 150% of GDP by the year 2029;  
• Less than 40% of Americans believe that the Country will benefit from the Affordable Care Act, increasing the likelihood of significant changes to, if not replacement of the legislation, with the most likely changes seen in the Independent Payment Advisory Board authority and state exchanges; even so, Senator Frist reminded the audience that the $5 -7 retail generics arose from donut hole created by the Prescription Drug Program;
• In health IT, Senator Frist anticipates innovation, particularly in Decision Support Assistance, will improve efficiencies and improve quality;
• The panel experts identified 4 keys drivers to Health IT, including:
  1. Efficiency-e-prescribing, mobile health and telemedicine, and EHRs;
  2. Cost Savings-improving the bottom line;
  3. Quality-reporting and use of quality data and improved outcomes based on the use of evidence based medicine; and
  4. Convenience-access, portability and increased patient responsibility.
• The panel experts identified a few challenges for the long term success of healthcare IT including:  tech savvy (or not) users, rapid advancements in technology; misaligned payment incentives; and poor consumer education; and 
• Finally, looking into his crystal ball, Senator Frist predicted that the most likely contenders for the Republican nominee for President were:  Romney, Pawlenty and Hunstman.

Click the links for a copy of Senator Frist's presentation and the conference handout including speaker bios and for further information regarding the Nelson Mullins National Healthcare and Life Sciences Practice Group or the Annual Healthcare Conference, contact: Alexis Slagle Gilroy (202-712-2893); Barry Alexander (313.877.3802); Billy Ching (404.322.6163); Mason Hogue (803.255.3417); Cynthia Hutto (843.534.4301); Jana Kolarik Anderson (202.545.2960); Jon Neiditz (404.322.6139); Rusty Pickering (404.322.6117); Rebekah Plowman (404.322.6111); Helen E. Quick (202.712.2894); Eli Poliakoff (843.534.4112); Ross Sallade (919.329.3875); William Scofield (617.202.4629); Amanda Witt (404.322.6120); or Doug Spear (404.322.6266).

The Nelson Mullins National Healthcare and Life Sciences Practice Group has several additional conferences, webinars and receptions planned for the remainder of 2011 and for 2012.  Please stay tuned for future announcements regarding these events.