CEO Exchange: Top Execs Share Insights, Solutions, and Strategies
The survey results generally match the priorities of attendees at our CFO Exchange which took place in August. It assembled an equal number of financial leaders. But it's worth noting that CEO Exchange attendees are perhaps even more fixated on cost reduction and efficiency than their peers in finance.
For me, this event is a gold mine of insight that will inform my stories in both HealthLeaders magazine and online until next year's event. For now, my top struggle is to distill some of the insights I've already learned from the first day of sessions into something that will help you think differently about the problems your hospital or health system is facing.
It's a lot like trying to take a drink from a fire hose, but I'll try to share a few insights with you here.
Growth is Top of Mind
For starters, the concern over cost reduction notwithstanding, our top leaders seek growth. When we asked attendees to describe their health system leadership strategy in a single word, "growth" rose to the top, followed by "entrepreneurship," "transformational," "futuristic," and "population" (as in population health management).
These are not the sentiments of people who plan to withdraw into a shell during uncertain times. They recognize that, like it or not, they must move toward taking risk in payment. Rather than waiting for payers to implement risk-sharing, they're working on their own innovations in this area. In fact, many organizations are creating momentum toward taking on risk through managing their own employees' healthcare costs with the idea of managing their own healthcare spending down.
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