Healthcare organizations, hospitals and health systems are being dramatically impacted by rapidly changing regulatory and policy changes, although each is affected differently. In a recent blog post, the Healthcare Advisory Board revealed issues that are especially urgent for Healthcare CEOs right now. Every year, the Advisory Board conducts an annual Healthcare CEO survey to discover what the biggest challenges facing executives and leadership are.
This year’s survey included more than 183 CEOs and other C-Suite leaders from large health systems, independent community hospitals, academic medical centers, physician groups and other healthcare organizations. Respondents were asked to rate 26 issues on a scale of “A” to “F”, with “A’ indicating the greatest importance of a given issue.
Source: eLearners.com (click image to enlarge)
What These Results Really Say About the State of Healthcare
In today’s consumer driven market, healthcare executives now have to get creative about generating growth.
In the survey, growth-related topics polled particularly well, indicating that they are a major priority. According to the Healthcare Advisory CEO Survey, “executive focus is shifting as more and more leaders recognize that consumerism in healthcare is as much of an opportunity as it is a threat.” While 40 percent of executives were highly interested in learning more about boosting outpatient market share in 2016, 2017 saw a massive increase with 55 percent of executives now indicating interest in this area. In comparison, only 36 percent of executives consider boosting inpatient market share a major priority.
Leaders are focused on reducing costs, but also finding ways to recognize where opportunities to reduce cost can be found.
The survey reveals that the traditional methods for addressing cost control are no longer as effective, including attempting to improve margins via labor force reductions or group purchasing of supplies. The second highest interest expressed by executives was in developing innovative approaches for cost reduction. There has also been a rise in opportunity for expense reduction through improving clinical process and pathways.
Preventing Cyber Security Attacks
Both hospitals and health systems are facing and increasing number of cyber security threats and attacks, a trend that’s been on the upswing for the last few years. Executives know that they must find the best ways to fight those threats before they damage their organizations or their relationships with consumers. According to Becker Hospital Review, “protecting an institution from a cyber security threat goes beyond the first step in the “cyber kill chain” of protecting the perimeter of the hospital’s network. Executives must employ layers of technology to protect the digital side of the business, the part that leaves patients and staff vulnerable to identity theft and other threats.”
Do You Have the Right Healthcare Administrators in Place?
With widespread uncertainty becoming the norm in today’s healthcare industry, hospitals and health organizations need to have the right talent in place to address the top challenges identified by CEOs in the Advisory report. This means finding someone who not only has experience, but also someone who is curious and not afraid to take risks.
Creativity will be a critical asset for healthcare organizations looking for new ways to cut costs. The best candidates will showcase an ability to venture successfully into the unknown and won’t be afraid to try new approaches or fail.
The recruiting experts at Healthcare Recruiters International have successfully helped countless healthcare organizations find and retain the talent they need to navigate through uncertain times. We have 14 offices around the U.S. and we’ve completed over a thousand successful searches to date across all areas within healthcare. If you’re looking for a way to recruit for a hard-to-fill or critical healthcare industry job, we have both the insight and expertise to make a strong placement at your organization. With our help, you can realize value from your employees for years to come.