Peter D. Banko serves as President and Chief Executive Officer at Centura Health.
Peter will be serving on the keynote panel "Change Management in the Era of Disruption: Strategies for Executives" at Becker's Hospital Review 12th Annual Meeting. As part of an ongoing series, Becker's is talking to healthcare leaders who plan to speak at the conference, which will take place in Chicago from April 25-28, 2022.
To learn more about the conference and Peter's session, click here.
Question: What are your top priorities for 2022?
Peter D. Banko: Workforce. Workforce. Workforce. We are in the midst of the most fundamental transformation in the way we work (across all industries and especially health care). It is an absolute imperative that we re-think and innovate all aspects of our workplace strategies – from staffing and care models to compensation and benefits – to ensure what we offer and provide is meaningful to our current and potential workforce.
For Centura, the next five years will mark the most prolific growth period in the 140-year history of our healing ministry. We see opportunities accelerating out of the pandemic in physician partnerships, existing market and service line growth, and new market mergers, acquisitions, and innovative relationships.
COVID-19 has forever changed our volumes, revenues, and expense structures (especially in workforce and supply chain). During the next 18 months, we must figure out our effective long-term cost structures especially the lowest, efficient cost possible for all corporate, back office, and transactional functions.
Q: How do you plan to pivot strategies this year to better serve patients?
PB: We are actively in a sprint to give consumers what they truly want and need. Digital platforms, technology, and consumer-driven access and care coordination will allow us to create personalization, find new ways to deliver care, and, ultimately to flourish in a world where ideas and innovation rule.
As a Christian ministry, we have the unique opportunity to also seek out greater expression of our Mission or, most broadly said, greater meaning and relevance in what we do. We see opportunities inside our organization and in our neighborhoods and communities to be a more social-first business in the areas of diversity & inclusion, food security, and behavioral health.
Q: What advice do you have for emerging healthcare leaders today?
PB: Emerging health care leaders get enamored with prestigious titles, lucrative positions, and name brands. I know because I did. You can be successful in lots of places. You can also as easily fail in lots of places.
First, always pick the right “boss”. Across all industries, most people leave their job because of their boss and/or team members. Find the right person to work with – background, management style, where they are today in their career, who they report to, and where they are heading with their career. Please make sure you have great chemistry, you can learn from them, and they will actively support you in advancing your career.
Then, pick the right organization. Follow the ancient Greek aphorism from the Temple of Apollo – know thyself. Understanding yourself helps you find the organization and culture that gives you energy and aligns with who you are at your core. Mission. Vision. Values. Strategic Thinking. Do your homework. Be certain you are working in an environment that allows you to be the same person at work and at home.