"Now we see physicians who understand the need for additional schooling," he says. "They are going back to get their MBA, their MHA. They are going to get specialized training on how to run these clinical networks. They are going through apprenticeships. There are now career tracks that are almost explicitly nonclinical that these physicians are recognizing. There is more of a systematic way to prepare them for it. It's a growing candidate segment, but I would be lying if I said there are enough of them out there. There aren't. They are hard to find."
Revenue Finders Wanted
Another up-and-coming C-suite title in healthcare is the chief strategy officer. That position has been around for decades in other industries, but has only recently gained a broader beachhead in healthcare and hospital administration.
Rachel Polhemus, a senior partner at the executive search firm Witt/Kieffer, says CSOs are rapidly becoming key players at the highest levels of hospital leadership as health systems become more complex and competitive. "You are not getting the same types of revenues you once did on fee-for-service model in a bricks-and-mortar hospital setting," Polhemus says.
"Finding new ways of generating additional revenue is a huge factor. If it's no longer about bricks and mortar, maybe it's about building a physician enterprise, or a post-acute care service line, or affiliations and joint ventures, staying competitive, having that market advantage over your competition, and looking at the health plan side of things, the risk side of things, and driving innovation."