Get to know ECG principal Terri Welter, head of the Managed Care Services Division. Hear Terri’s perspective on the managed care side of healthcare and learn about her work as a consultant.
Q: How did you get into healthcare management consulting?
A: During and immediately after grad school, I was given an opportunity to do an internship with Jefferson Health System in its managed care department and then from there got into consulting in the Philadelphia market. I was interested in working with different types of organizations in different parts of the country.
Q: What drew you into the managed care side?
A: The tangible nature of the work. You can focus on seeing results and have a direct impact on revenue for hospital systems and medical groups.
Q: What is the biggest challenge in managed care facing healthcare organizations today?
A: The complexity of the reimbursement environment in healthcare is one of the biggest challenges. If you couple that with the pressure on the industry to drive improved efficiencies, we are finding that our health system clients are in unprecedented times.
Q: How do you think we’ll be able to address some of those challenges in the future?
A: The industry is addressing these challenges through increased transparency and a continued push on innovation and the movement to value-based payments. Those methodologies focus on paying for quality, outcomes, and performance rather than paying for services, so patients can get the right care in the right setting at the right cost.
Q: What is the most interesting challenge you’ve faced as a consultant?
A: I think right now actually is the most interesting time in consulting, and in the broader healthcare industry. We have this great opportunity to transform care delivery and the economics of healthcare because we have information around outcomes, cost, and quality that was not available before. The challenge is disrupting a system that is deeply rooted in process inefficiencies so we can create a more effective and outcomes-oriented experience for the patient.
Q: Is there a particularly rewarding project that you’ve worked on recently or in the past?
A: There are many. Within our Managed Care Services Division, our recent work with Johns Hopkins All Children’s Hospital was particularly impactful. Our consultants worked closely with the leadership team to renegotiate the commercial managed care contracts. They were undervalued in the marketplace and really needed to drive support of cutting-edge and necessary pediatric research. We were able to renegotiate their arrangements and, as a result, it helped to support that additional investment in research.
Q: What’s the best part of your workday?
A: The people. The people that I work with internally at ECG, the drive they have, the talent they have, the camaraderie we have. Also that translates to our clients. So the people experience is the favorite part of my job.
Q: What are the publications that you read to keep up to date on healthcare or management issues?
A: Definitely hfm Magazine. I have been deeply involved in hfm over the years on the finance side. Modern Healthcare, certainly that’s what we read. We also read a lot here in DC on the policy side to keep current with policy-related matters. I also keep up with MCOL, which is a long-standing publisher of healthcare business information for both payors and providers.
Q: What do you do outside of the office?
A: I spend time with my family. My husband, Mark, and I have two very active sons who are involved in a lot of different sports, so I really enjoy watching my kids’ sporting events when I’m not working. I also coach my oldest son’s basketball team, enjoy the outdoors, and try to get enough exercise along the way.
Q: Do you have any pets?
We have four cats and two dogs, all of which are rescues. It’s a bit of a zoo in our house.