October 2024 Issue of Becker's Hospital Review
ON THE COVER
Sue Perrotty, CEO, Tower Health
West Reading, Pa.-based Tower Health's new-look leadership team, organizational structure and culture have helped the health system improve its financial performance by more than $160 million year over year while a debt refinancing deal has secured a longer runway to return to profitability.
Katie Kucera, Vice president and CFO, Carson Tahoe Health
Signs of tensions between Carson Tahoe Health and UnitedHealthcare have been apparent for a while.
E.J. Kuiper, President and CEO, Franciscan Missionaries of Our Lady Health System
E.J. Kuiper, with two decades of experience in Catholic healthcare leadership, began serving as president and CEO of Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in May.
Esmaeil Porsa, MD, President and CEO, Harris Health System
As Bellaire, Texas-based Harris Health System's first dual physician, president and CEO in the organization's more than 60 years, Esmaeil Porsa, MD, has made it his mission over the last four years in his role to instill something that he says is the largest challenge currently facing the healthcare industry: trust.
Patrick O'Shaughnessy, DO, CEO, Catholic Health
From spending nearly 20 years as an emergency physician to becoming a licensed pilot, it's fair to say that Patrick O'Shaughnessy, DO, has worn many hats. While no longer providing patient care, it's the skills acquired in his previous roles that helped secure for him the role of president and CEO of Rockville Centre, N.Y.-based Catholic Health.
The budget area this Louisiana system CEO won't touch
E.J. Kuiper, with two decades of experience in Catholic healthcare leadership, began serving as president and CEO of Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in May.
A wave of change is coming for healthcare benefits — are hospitals ready?
Surveys of employers are making one thing clear: Healthcare costs are rising faster than they did before the pandemic, and those costs are being driven by inflation, the increasing use of weight loss medications, and higher overall medical expenses. As employers and insurers grapple with these escalating costs, hospitals will undoubtedly be affected.
Health systems' new growth metrics
Growth is essential for hospitals and health systems, but the way executive teams think about growth has changed significantly over the last five years.
Meet this Texas system's first dual CEO, physician
As Bellaire, Texas-based Harris Health System's first dual physician, president and CEO in the organization's more than 60 years, Esmaeil Porsa, MD, has made it his mission over the last four years in his role to instill something that he says is the largest challenge currently facing the healthcare industry: trust.
Why Intermountain ditched the term 'value-based care'
Salt Lake City, Utah-based Intermountain Health was an early adopter of value-based care principles, deploying strategies to boost quality and lower costs. The health system pioneered owning a health plan and driving down pharmaceutical costs with CivicaRx.
Health systems brace for the 'silver tsunami'
Around 10,000 Americans turn 65 years old every day, gaining access to Medicare benefits. The number of Medicare beneficiaries is expected to continue growing in the next five years, and health systems are making changes to keep up.
CEO rebuilds Pennsylvania system after $440M loss
West Reading, Pa.-based Tower Health's new-look leadership team, organizational structure and culture have helped the health system improve its financial performance by more than $160 million year over year while a debt refinancing deal has secured a longer runway to return to profitability.
Why 2 health systems don't need to build it to love it
Sue Perrotty, CEO of West Reading, Pa.-based Tower Health, told Becker's that health systems need to move away from the "we built it, we love it" mindset.
From -7.9% to 14.9%: 31 systems ranked by operating margins
Health systems' second-quarter financial results point to the beginning of a slow and sustained recovery, but challenges including high labor costs and the ongoing disconnect between revenue generation and expense requirements persist.
New CFOs help boost financials at 3 systems
Two Massachusetts health systems trimmed second-quarter operating losses under the leadership of new CFOs, while the new CFO at a Missouri system aims to bolster margins and meet growth goals in fiscal 2025.
5 big points of tension for CEOs
CEOs are regularly faced with decisions that require the balancing of outcomes and managing trade-offs. These decision points typically center around one or more of five key dilemmas.
Meet the leader whose CEO career began at 23
Doug McMillan, CEO of Cody (Wy.) Regional Health, is a true example of someone who wakes up every day and does what he loves. It started 41 years ago when he became CEO of Haxtun (Colo.) Hospital at age 23.
What 5 CEOs wish they'd learned sooner
CEOs have navigated various challenges and changes in the healthcare industry throughout their careers. Whether related to the workforce, budget, leadership, or technology, these experiences have provided valuable lessons that continue to resonate with them today.
CFO / FINANCE
CEO rebuilds Pennsylvania system after $440M loss
West Reading, Pa.-based Tower Health's new-look leadership team, organizational structure and culture have helped the health system improve its financial performance by more than $160 million year over year while a debt refinancing deal has secured a longer runway to return to profitability.
Why 2 health systems don't need to build it to love it
Sue Perrotty, CEO of West Reading, Pa.-based Tower Health, told Becker's that health systems need to move away from the "we built it, we love it" mindset.
A wave of change is coming for healthcare benefits — are hospitals ready?
Surveys of employers are making one thing clear: Healthcare costs are rising faster than they did before the pandemic, and those costs are being driven by inflation, the increasing use of weight loss medications, and higher overall medical expenses. As employers and insurers grapple with these escalating costs, hospitals will undoubtedly be affected.
Why Intermountain ditched the term 'value-based care'
Salt Lake City, Utah-based Intermountain Health was an early adopter of value-based care principles, deploying strategies to boost quality and lower costs. The health system pioneered owning a health plan and driving down pharmaceutical costs with CivicaRx.
From -7.9% to 14.9%: 31 systems ranked by operating margins
Health systems' second-quarter financial results point to the beginning of a slow and sustained recovery, but challenges including high labor costs and the ongoing disconnect between revenue generation and expense requirements persist.
CEO/STRATEGY
Health systems brace for the 'silver tsunami'
Around 10,000 Americans turn 65 years old every day, gaining access to Medicare benefits. The number of Medicare beneficiaries is expected to continue growing in the next five years, and health systems are making changes to keep up.
Former South Dakota hospital CEO dies
Lyle Schroeder, former longtime president of Sioux Falls, S.D.-based Sioux Valley Hospital, died Aug. 13 at 89.
The budget area this Louisiana system CEO won't touch
E.J. Kuiper, with two decades of experience in Catholic healthcare leadership, began serving as president and CEO of Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System in May.
Meet this Texas system's first dual CEO, physician
As Bellaire, Texas-based Harris Health System's first dual physician, president and CEO in the organization's more than 60 years, Esmaeil Porsa, MD, has made it his mission over the last four years in his role to instill something that he says is the largest challenge currently facing the healthcare industry: trust.
5 big points of tension for CEOs
CEOs are regularly faced with decisions that require the balancing of outcomes and managing trade-offs. These decision points typically center around one or more of five key dilemmas.
THOUGHT LEADERSHIP
The 'indispensable' skills CFOs need to navigate healthcare
Jeff Costello has been CFO of South Bend, Ind.-based Beacon Health System since 1995. Over his nearly three decades with the health system, Mr. Costello has worked to adapt to constant change within healthcare.
What 5 CEOs wish they'd learned sooner
CEOs have navigated various challenges and changes in the healthcare industry throughout their careers. Whether related to the workforce, budget, leadership, or technology, these experiences have provided valuable lessons that continue to resonate with them today.
From caddie to orderly to CEO: Brian Erling's leadership journey
Brian Erling, MD, has served as president and CEO of Reno, Nev.-based Renown Health since November 2022, and he brings a physician perspective to the role.
Confessions of a CEO: The biggest challenges facing healthcare
From healthcare access and continued workforce shortages to adapting to new technologies and combating high costs for both patients and providers, healthcare's challenges continue unabated.
The peer-to-peer advice health system CEOs seek
When it comes to tackling hospital leadership challenges such as staffing, finances, regulatory issues and growing payer-space complexity, CEOs often rely on advice from peers and former CEOs.
INNOVATION
Judy Faulkner's 25-to-50-year plan for Epic
Epic founder and CEO Judy Faulkner said the company is always looking decades ahead, whether that's expanding its headquarters, staff, or technology offerings to health systems.
Where does healthcare AI go next? Predictions from 4 leaders
Health systems continue to adopt artificial intelligence for clinical documentation, patient portal messages and utilization management. But what is the next evolution of healthcare AI?
Epic grows revenue without 'preordained budget'
Epic reported $4.9 billion revenue last year while expanding its market share, growing the Cosmos database and adding artificial intelligence-driven capabilities, according to CNBC.
Why Kaiser Permanente went all in on generative AI
Kaiser Permanente decided to embark on the largest generative AI project in healthcare to date after considerable demand from clinicians and positive feedback from patients.
Why Emory Healthcare created an Epic application
Atlanta-based Emory Healthcare developed an Epic application that alerts clinicians when patients with sepsis might benefit from a different treatment.
CMO/CARE DELIVERY
Nurse workflow, Gen Z enter the patient experience spotlight
Patient experience measures are showing signs of rebounding after falling dramatically during the pandemic, and a few elements are entering the spotlight after having notable effects on hospital scores.
PAs urge AMA to drop 'scope creep' campaign
The American Academy of Physician Associates is calling on the American Medical Association to end its "scope creep" campaign, arguing a more collaborative approach is needed to strengthen the U.S. healthcare system amid significant provider shortages.
A delay in hospital closure is posing patient safety risks, execs say
An ongoing exodus of healthcare workers from Mount Sinai Beth Israel is posing risks to patient safety "in the very near future," Politico reported July 17.
Penn Medicine hospital lowers CLABSI rate to zero: Study
Penn Medicine's flagship hospital noted zero central line-associated bloodstream infections in fiscal years 2022 and 2023, according to a study published Aug. 1 in Critical Care Nurse.
University Hospitals' spin on virtual nursing
Many virtual nursing models involve separate teams where nurses work as either a bedside nurse or a virtual nurse. But Cleveland-based University Hospitals is taking a different approach.
CIO/HEALTH IT
10 CIOs share their most unique tech
As the healthcare industry embraces technological transformation, leaders agree it is not about having tech, but having the right tech to stand out.
Hospitals and universities unite to combat AI bias
Health systems are joining forces with university health technology experts to tackle a major hurdle in the adoption of advanced artificial intelligence tools in healthcare: bias, Politico reported Aug. 19.
Where ambient AI goes next, per Northwestern Medicine's CIO
Chicago-based Northwestern Medicine just expanded ambient artificial intelligence to clinicians across its health system, but its CIO is already looking at what comes next.
Hospital for Special Surgery names first chief digital and technology officer
New York City-based Hospital for Special Surgery named its first chief digital and technology officer, according to an Aug. 13 news release.
More CEOs, CFOs and CIOs see organizations losing grip on basic IT
Across industries, the percentage of C-level executives leaders who say their IT function is effective in delivering even basic services has plummeted over the last decade, according to a new report from IBM.
WOMEN'S LEADERSHIP
Meet the CNOs of Magnet's top hospitals
Here are the chief nursing leaders from the 11 hospitals with Magnet with Distinction programs.
Baylor Scott & White hospital trains all-female surgical class
Fort Worth, Texas-based Baylor Scott & White All Saints Medical Center is training its first class of general surgery residents — and they're all women, CBS News reported Aug. 7.
Meet this Tennessee hospital's 1st female CEO
Lisa Lovelace became Cleveland, Tenn.-based Vitruvian Health-Bradley Medical Center's first female CEO on Aug. 1, returning to her hometown and former workplace.
Fewer than half of US workers feel well compensated
About 4 in 10 U.S. workers report feeling well compensated in their roles, according to an Aug. 29 Linkedin News post.