Orthopedic & Spine Industry Leader to Know: Dr. Marshall Steele

Rachel Fields -   Print  |
As practices gear up for the changes to be instituted by the healthcare reform law, many are wondering what the future of healthcare will look like — who will lose money, who will make money and who will be forced to change their current practices. In May, orthopedic surgeon and healthcare firm founder Marshall Steele, MD, shared with Becker's ASC Review his predictions for healthcare reform's impact on providers.

According to Dr. Steele, the healthcare industry will see a movement toward risk-based compensation rather than fee-for-service. In line with a national movement to improve patient safety and keep providers accountable, he said providers will be compensated based on patient outcome. Similarly, healthcare reform will require more transparency from providers and hospitals. He said these changes are a great opportunity for providers to create an extraordinary patient experience and ensure that patients will mention their good experience to others.

"A merely satisfied patient will not necessarily refer a friend or family member to your facility," he noted. "For example, you would not go out of your way to recommend a movie that was just good or okay to your friends. However, if it was something special, something unique or outstanding, you would make sure you tell them to see the film. It is the same with healthcare."

Having worked with a variety of facilities to implement a more patient-centric model of care, Dr. Steele is in a good place to comment on the likely effects of healthcare reform on day-to-day life for providers. The founder and CEO of Marshall | Steele, a physician-led healthcare firm that uses a patient-centric care model to develop destination centers for orthopedic and spine, Dr. Steele has been instrumental in developing successful specialty surgical programs including joint replacement, spine, sports medicine and wound care.

An academic as well as a surgeon, Dr. Steele has authored three books and has published numerous articles and presentations on orthopedics. When he retired for surgery to create his firm, he imagined a company that could implement focused service lines that would truly consider the patient's needs over those of the physician or administrator. He said in a July interview with Becker's Hospital Review that soliciting feedback from patients is one of the most important things a provider can do to fix institutional problems and ensure a better patient experience.

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