BCW’s State of the Economy Series Takes Deep Dive into Healthcare

Westchester County’s healthcare landscape is undergoing a profound transformation, according to panelists at the Business Council of Westchester’s State of the Economy series held this week.

The insightful panel discussion on Tuesday delved into several key trends reshaping medical care in the region. The distinguished panelists included Dan Blum, Chief Executive Officer, ENT & Allergy; Paul Dunphey, Senior Vice President & Chief Operating Officer, NYP Westchester Hospital and President, NYP Hudson Valley Hospital; Jennifer Malone-Seixas, Regional Vice President, Westchester/ Fairfield, Atria Senior Living; and Joe Simone, President, Simone Development Companies.

Panel moderator and BCW President & CEO Marsha Gordon launched the conversation by underscoring the profound regional impact of the healthcare sector. “Local hospitals and health systems represent almost $20 billion in economic activity in the 16th Congressional District, which covers central and southern Westchester. That’s just the hospitals systems in one district,” said Gordon, citing data from the Healthcare Association of New York State. “That includes almost 83,000 jobs generating nearly $5 billion in tax revenue for local and state governments. The health sector provides 4.4 million in outpatient appointments and treated 664,000 patients in emergency rooms in 2023.”

A significant theme was the increasing integration of artificial intelligence (AI), with panelists highlighting its growing impact on claims adjudication, patient screening, and the crucial task of reading diagnostic tests. AI’s role in streamlining operations and enhancing diagnostic accuracy is set to revolutionize healthcare delivery.

The discussion also addressed the ongoing consolidation of local healthcare into large networks. These expansive systems are now offering comprehensive “cradle-to-grave” care, conveniently located within Westchester and providing access to top medical talent from New York City. This shift aims to offer patients a more integrated and accessible healthcare experience.

Westchester County Executive Ken Jenkins delivered a greeting, and he commended the healthcare leaders for their vital work and significant contributions to the local economy.

A major development on the horizon is the fall opening of NewYork-Presbyterian The One, Westchester’s newest state-of-the-art healthcare facility at 1111 Westchester Avenue in White Plains. This $500 million complex promises to be a game-changer, offering over 90 adult and pediatric care services and featuring leading doctors from Columbia, further solidifying Westchester’s position as a hub for world-class medical care.

The panel emphasized a crucial reorientation of healthcare delivery towards the consumer experience. This new focus prioritizes convenience, speed of care, and strategic location, acknowledging the evolving expectations of patients in today’s fast-paced world.

Addressing the critical challenge of workforce development, the panelists discussed the growing need for new doctors and nurses, especially with an aging population. A promising solution highlighted was the new workforce pipeline created through NewYork-Presbyterian’s partnership with Iona University and the establishment of The NewYork-Presbyterian Iona School of Health Sciences. This collaborative initiative offers a forward-thinking vision for healthcare education, directly connecting students with job opportunities.

Finally, the expansion of senior living communities as the population ages was a key topic, along with the common misconceptions the public holds regarding planning for long-term care. This underscored the need for greater public awareness and education on future care needs.

The panel’s insights revealed how Westchester County is not merely adapting to these changes but actively serving as a blueprint for the consolidation of healthcare and the delivery of world-class medical care in suburban areas.

PCSB Bank was the Presenting Sponsor of the event. The Contributing Sponsors were Dorf Nelson & Zauderer LLP, Empire City Casino by MGM Resorts, IMA Financial Group, NewYork-Presbyterian, RM Friedland, Simone Development Companies and Westchester County Office of Economic Development

The event was hosted by Reckson at 360 Hamilton Avenue, White Plains.