This episode features Randy Farmer, Chief Operating Officer at Delaware Health Information Network. Here, he discusses his background & career, lessons healthcare can learn from the financial services industry, different innovative technologies he is excited about, and more.
Summary
Randy Farmer: Lessons for Healthcare from Financial Services Industry
Background and Career
Randy Farmer, Chief Operating Officer at Delaware Health Information Network, has been with the organization since its launch in 2007. Prior to that, he worked in the financial services industry and found a lot of parallels between the two industries. Randy believes that health systems need to become more self-sustainable and technology can play a big role in achieving this.
Lessons Healthcare Can Learn from Financial Services Industry
Randy believes that health systems can learn a lot from the financial services industry. He believes that in order to be successful, healthcare leaders need to embrace change and be relationship-centric. Randy argues that focusing on relationships is key to building trust and driving value in the industry. He also suggests that healthcare systems can benefit from adopting some of the financial services industry's approaches and strategies.
Innovative Technologies in Healthcare
Randy is excited about the potential of technology to drive innovation in healthcare. He believes that technology can help healthcare systems become more sustainable and improve patient outcomes. Randy is particularly interested in the use of patient-directed data to help patients get better deals on life insurance policies and find clinical trial candidates. In 2023, DHIN will be focusing on patient-directed uses of data.
The Importance of Embracing Change in Healthcare
Randy believes that healthcare is at a tipping point and that organizations need to embrace change in order to succeed. He argues that healthcare systems need to be proactive in adopting new technologies and strategies to remain competitive. According to Randy, it is important for healthcare leaders to look outside of the industry and learn from other industries like financial services.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 01/14/2023 and can be listened here.
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