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Best Healthcare Leaders Know When to Exit
After 40 years—20 as CEO—Denver Health's Patricia Gabow knows she could stay on pretty much as long as she wants. But the longtime leader of the consistently profitable safety net hospital says one of the keys of good leadership is "to know when to leave."
Congratulations to the good doctor for 1) Taking on the challenge of being a physician leader, and 2) for understanding how to run a lean organization. This is as good as time as any to ask about the profitability" of not-for-profit organizations, like Denver Health, which I assume is a not-for-profit health system. Not-for-profit or nonprofit organizations by definition cannot have a "profit", only a surplus. We should try to be accurate in this terminology since there is a huge difference between for profit companie's "Profit" and a nonprofit's "Surplus".