October 2023 Issue of Becker's Hospital Review
ON THE COVER
Peter Fine, CEO, Banner Health
Peter Fine has led Phoenix-based Banner Health, a nonprofit system including 33 hospitals and other services in six states, since 2000.
John Couris, CEO, Tampa General Hospital
John Couris loves a lot of things about Tampa General Hospital: a beautiful community, a historic institution, a board of directors made up of "absolutely world-class people," as he calls them.
Melissa Kline, DNP, RN, Chief nursing officer, MetroHealth
Melissa Kline, DNP, RN, did not intend to go into leadership when she started as a staff nurse at Cleveland-based MetroHealth. But over the last 20 years, she realized leadership is where she belonged.
Joyce Markiewicz, RN, President and CEO, Catholic Health
Joyce Markiewicz, RN, became the fifth president and CEO in Buffalo, N.Y.-based Catholic Health's 25-year history Sept. 1, and she brings a wealth of experience to her new role.
Doug McMillan, CEO, Cody Regional Health
CEO exits at hospitals are up year over year, and CEOs' tenures are shrinking at S&P 500 companies. However, some of healthcare's longest-tenured CEOs told Becker's they remain at their organizations and focused on how their teams are helping to ensure long-term success.
Steven Packer, MD, CEO, Community Hospital of the Monterey Peninsula
CEO exits at hospitals are up year over year, and CEOs' tenures are shrinking at S&P 500 companies. However, some of healthcare's longest-tenured CEOs told Becker's they remain at their organizations and focused on how their teams are helping to ensure long-term success.
Hospitals are in a world of denial
Hospital and insurer contract negotiations are often framed as an industry gauntlet, a defined period of time with an objective outcome where big talk does not translate to money. But reimbursement rates secured in new contracts are only one piece of hospitals' payer-induced headaches.
What the chaos era for Netflix and Disney spells for healthcare
The home might grow noisy and crowded in the years to come.
'We can no longer simply increase wages': What health systems are doing instead for retention
The national healthcare staffing shortage has inflated wages and increased competition for talented nurses and clinical support staff. For a while, hospitals' main retention strategy was increased wages; that's changing as nurses feel more comfortable with their pay and have begun to value other qualities in a workplace.
What defines a CEO's legacy?
CEO exits at hospitals are up year over year, and CEOs' tenures are shrinking at S&P 500 companies. However, some of healthcare's longest-tenured CEOs told Becker's they remain at their organizations and focused on how their teams are helping to ensure long-term success.
How Risant Health aims to outshine disruptors
When Kaiser Permanente agreed to acquire Geisinger and form a new value-based care organization, Risant Health, it had competition in mind: for-profit healthcare disruptors.
The 3% raise is no longer enough
Standard annual pay raises of years past will no longer suffice as workers expect higher pay raises from their employers next year, Fortune reported Aug. 7, citing data from Payscale's Salary Budget Survey.
Hospital profitability: 36 statistics
The average hospital operating margin dropped from June to July, but has increased year over year, according to the Kaufman Hall National Hospital Flash Report.
Only 8% of CFOs still anticipate a recession
In January, 98 percent of U.S. CEOs agreed there would be a "short and shallow" recession. Now, that anticipation is waning in the C-suite, Fortune reported Aug. 22.
Where are all the med-surg nurses?
St. Louis-based BJC HealthCare hoped to see more nurses go into medical-surgical once the COVID-19 pandemic died down and competitive pay rates for travel assignments in critical care and emergency departments stabilized. That hasn't happened. More than 70 percent of the system's agency dollars are currently being spent on nurses to work in med-surg units, Tommye Austin, PhD, RN, senior vice president and chief nursing executive at the health system, told Becker's.
Take the PTO, says Mercy's new exec
When Catherine Codispoti takes the reins as Mercy's new chief people officer, she plans to focus inward, on the people already there.
The 'Where's Waldo?' of pharmacy tech
Besides AI, one emerging technology is snatching the attention of Joe Burczynski, PharmD, which performs tasks in a manner similar to completing a "Where's Waldo?" game with immediate success.
Homelessness at record high: What it means for hospitals
A record number of Americans are experiencing homelessness in 2023 amid rising housing costs and other societal challenges. The increase could put additional strain on the U.S. healthcare system and lead to worse patient outcomes if health systems do not take actions to improve the health of those experiencing homelessness.
Why digital transformation raises ethical questions in healthcare
One of the greatest challenges health systems face when it comes to digital transformation is striking a balance between leveraging advanced technology and maintaining patient privacy, data security and ethical considerations, according to Terri Couts, RN, chief digital officer of Sayre, Pa.-based the Guthrie Clinic.
CFO / FINANCE
Hospitals are in a world of denial
Hospital and insurer contract negotiations are often framed as an industry gauntlet, a defined period of time with an objective outcome where big talk does not translate to money. But reimbursement rates secured in new contracts are only one piece of hospitals' payer-induced headaches.
Only 8% of CFOs still anticipate a recession
In January, 98 percent of U.S. CEOs agreed there would be a "short and shallow" recession. Now, that anticipation is waning in the C-suite, Fortune reported Aug. 22.
'It's ridiculous': Why hospitals pay millions to get paid electronically
Hospitals and physicians are paying millions of dollars for a hidden fee to receive reimbursement from payers electronically, ProPublica reported Aug. 15.
'Dark clouds' may derail hospital financial recovery
Nonprofit hospitals have been hit hard over the last 18 months with rising costs, workforce shortages, inflation and more leading to tighter margins and tough decisions.
Hawaii hospital fires 3 top managers in leadership restructure
The Hawaii State Hospital, a publicly funded, state psychiatric hospital in Kaneohe, is firing three top-level managers as part of a leadership restructure amid patient overcrowding and workforce shortages, local media outlets reported over the weekend.
CEO/STRATEGY
What the chaos era for Netflix and Disney spells for healthcare
The home might grow noisy and crowded in the years to come.
Former Kaiser Medical Group CEO has concerns about Risant
Oakland, Calif.-based Kaiser Permanente has agreed to acquire Geisinger Health, a 12-hospital system headquartered in Danville, Pa., in a deal that would see Geisinger be the first to join Risant Health, a nonprofit launched by Kaiser Foundation Hospitals.
Boards' ask of C-level execs? Plain language
Corporate and industry jargon is holding less weight with board directors, who are increasingly making an effort to bar it from the boardroom completely, Fortune reports.
The No. 1 healthcare challenge, per 150 leaders
Healthcare leaders are zeroed in on growth and modernization, according to a recent report from Optum.
Indiana hospital hires chief nursing officer as CEO
Tara McVay, MSN, RN, has been named president and CEO of Logansport (Ind.) Memorial Hospital, effective Aug. 7.
THOUGHT LEADERSHIP
CEO turnover is breaking John Couris' heart
John Couris loves a lot of things about Tampa General Hospital: a beautiful community, a historic institution, a board of directors made up of "absolutely world-class people," as he calls them.
Undercover boss: Why this C-suite leader silently became an EMT
By day, Linda Matzigkeit was chief administrative officer at Children's Healthcare of Atlanta. By night, she was a student again, hitting the books to become an emergency medical technician.
'Redesigning the future': How Guthrie is taking virtual care to the next level
Sayre, Pa.-based the Guthrie Clinic has created a virtual care command center, dubbed the Pulse Center, that mixes the use of technology and people to supplement its nursing staff and assist them with clinical care.
Amid 'hard decisions,' Jefferson Health CEO puts culture front and center
Jefferson Health is on a journey toward building a unifying culture as it adapts to growth and changes, according to its leader.
'Operational changes are required for us to survive,' insists New York health system CEO
Aaron Kramer joined Adirondack Health as assistant vice president of information systems in 2015 and climbed the executive ranks to become CEO of the Saranac Lake, N.Y.-based health system after his predecessor Sylvia Getman retired in July 2021.
INNOVATION
How Risant Health aims to outshine disruptors
When Kaiser Permanente agreed to acquire Geisinger and form a new value-based care organization, Risant Health, it had competition in mind: for-profit healthcare disruptors.
ChatGPT on par with an 'intern or resident,' Mass General Brigham finds
ChatGPT is 72 percent accurate at making clinical decisions, performing better at final diagnoses and worse at determining possible diagnoses, according to an Aug. 22 study by Mass General Brigham researchers.
How Tampa General is avoiding the AI 'hype cycle'
With declining funding in the digital health and healthcare artificial intelligence sectors, hospitals are scrambling to make sure they have an adequate investment strategy.
The 'Where's Waldo?' of pharmacy tech
Besides AI, one emerging technology is snatching the attention of Joe Burczynski, PharmD, which performs tasks in a manner similar to completing a "Where's Waldo?" game with immediate success.
The next billion-dollar healthcare startups, per Forbes
Of the 50,000 venture capital-backed startups in the U.S., Forbes predicts that four specializing in healthcare will one day be valued at $1 billion or more.
CMO CARE DELIVERY
More physicians adding MBA to leadership formula
Keith Gray, MD, has practiced surgical oncology at University of Tennessee Medical Center in Knoxville for 15 years, during which time he has held roles including executive vice president and chief medical officer, chief of the division of surgical oncology, chief of staff and medical director of multiple service lines. Most recently, on July 1 he became president of UTMC, and will become president and CEO, effective April 1.
50% of new nurses plan on transitioning out of field to pursue side hustle: Survey
A survey of more than 1,300 U.S. nurses found about 50 percent have side hustles outside of nursing to earn extra income — and many of them plan on making side gigs their full-time job, according to newly released findings from staffing platform ConnectRN.
Inside Penn Medicine CEO's decision to support nurse staffing legislation
In July, Penn Medicine's CEO took a stance many other hospital CEOs wouldn't dare touch.
Nursing schools, hospitals don't agree on how to solve nurse shortages
The nursing shortage is like an endless domino effect of the worst kind, with existing staffing issues and burnout driving more and more nurses to cut their hours or leave the industry entirely. All stakeholders want to solve the problem, but hospitals and nursing schools have different ideas about what is needed most to do so.
Viewpoint: Why these are the happiest nurse positions
Outpatient case managers and office nurses are some of the happiest in the field, according to an article written by Donna Reese, MSN, RN, and published by Nursing Process.
CIO / Health IT
Hospital CISOs ask for support from leadership to prevent attacks
As ransomware attacks are shutting down healthcare services across multiple states, hospital cybersecurity leaders told Becker's that protecting healthcare from cyber threats requires total organizational buy-in.
The top-paying states for health IT workers
As healthcare IT roles become increasingly difficult to fill, individuals looking to fill such positions may have more options.
12 hospital CIOs who worked for Epic, Cerner
While hospital and health system CIOs come to the IT leadership roles from a variety of backgrounds, some made stops at EHR vendors such as Epic and Cerner earlier in their careers.
Identifying opportunity, minimizing risk: How 1 CIO is approaching gen AI adoption
Julie Eastman, Orange, Calif.-based UCI Health's new CIO, said she's identifying opportunities where generative AI can deliver substantial value while ensuring she is minimizing potential risks for her organization.
The 'huge gap between hype and reality' for healthcare AI
While generative artificial intelligence will "completely" reshape primary care, there's still a "huge gap between hype and reality" for healthcare AI, a Mount Sinai Health System leader told Becker's.
WOMEN'S LEADERSHIP
Take the PTO, says Mercy's new exec
When Catherine Codispoti takes the reins as Mercy's new chief people officer, she plans to focus inward, on the people already there.
Most Ivy League presidencies now belong to women
As a new school year winds up, something has shifted in the top offices of America's elite universities — for the first time in history, six out of the eight Ivy League colleges will be led by women.
How to tear the 'paper ceiling'
You've probably heard of the "glass ceiling": the social barrier that prevents women's advancement to top leadership roles. Now, a similar term has been coined for those without a bachelor's degree: the "paper ceiling."
3 female leaders in healthcare named to Forbes' 50 over 50
Three female hospital leaders were named in Forbes' "50 over 50" list for innovation.
Women's unpaid caregiving labor is worth $627B
A common scapegoat for the gender wage gap now has numeric value: U.S. women would collectively make an additional $627 billion per year if paid for their caregiving work.