At 5:45 this morning, I googled “Challenges that Hospital CEO’s Face.” In 0.53 seconds, the search returned 3,600,000 results. By 6:20, I realized that I could write a 3,600,000 word blog by just naming problems. Needless to say, there are plenty of challenges. In my research, the top five most common challenges included:
- Financial Challenges
- Physician/Hospital Relationships
- Personnel + Talent Shortage
- Perpetuation Planning + Leadership Succession
Each one of these risks can put you out of business if you do not manage well. Who and/or how can these risks be effectively managed? What about the other 3,599,995 risks your facility faces? Who has time to develop a plan to manage these challenges because you (or your team) already have too much on their plates? How do you effectively go about managing the things that can put you out of business? Some strategies that I have seen to be effective include:
- Strategic Planning Retreats – offsite/off campus with key team members.
- Provide Resources – such as educational opportunities and others to your staff.
- Develop an employee pipeline – Utilize resources such as: current staff, local universities, business affiliates + associations.
- Perpetuation Planning-
- Must identify exit dates for key personnel
- Invest in future leaders of your organization via education + talent development
In order to do more with less, you must be creative and identify who can be of assistance. I have seen many hospitals utilize a “teach the teacher” model to improve engagement within their medical staff, while providing an educational resource. Many medical malpractice insurance carriers will host such an event for your hospital. They also typically provide CME, dinner, etc. for your physicians.
The first step toward managing these challenges is to identify what you can be manage in house and what projects/challenges others can assist with. For more information on how to create your own customized “teach the teacher” program contact Kelly Reed | 906.315.7227 | email@example.com.