By Rose O. Sherman, EdD, RN, FAAN
Dr. Tim Porter O’Grady talks about t
he importance of leaders as good signpost readers. Leaders need to have both a predictive and adaptive capacity. This means that we need to be aware of change and how it may impact the interface between the environment, the organization and the staff. Watching the trends becomes even more critical in a changing healthcare environment. One source of what is trending are whitepapers released by companies involved in healthcare leadership. A whitepaper released by B.E. Smith, a major health leadership search firm, this week serves as a good example. Here are 9 things trending with healthcare leaders according to research done with 300 healthcare executives nationwide:
1. The balance between costing savings and quality care.
Healthcare leaders are being challenged to reduce their costs (in some cases by 20-30%) while improving quality. There is tension in these competing outcomes.
2. Increasing volume, variety and the complexity of affiliations.
Healthcare leaders are developing strong partnerships and affiliations across the continuum of care. Yet the outcome of some of these initiatives is far from certain. The report indicates that 50% of health systems have applied for their own insurance licenses which is a signal about changes that could be ahead.
3. Migration of care outside the hospital.
Where care is taking place for patients is flipping. Historically, it has been hospital-based but this is rapidly changing. Both telemedicine and telemonitoring in the home are both rapidly increasing.
4. Healthcare consumerism has arrived.
Consumer engagement is a critical new part of the healthcare environment. Nine in ten patients prefer to be in control of their medical decision making and 64% actively take steps to learn about their condition.
5. Population health is driving communities of service.
There is a growing need of the importance of communities of service including non-traditional services such as soup kitchens to help more effectively manage populations.
6. Changing environments create a need for new leadership competencies and compensation.
B.E. Smith is in a good position to evaluate what is happening with healthcare leadership. More is expected of healthcare executives and in 2013, there was a 20% turnover in CEOs. This leadership turnover has been shown to have a significant impact on planning. There is also a much higher likelihood that other members of the “C” suite will also leave. Compensation of healthcare leaders has been called into question and is now more closely linked to performance.
7. Organizational focus on succession planning and emerging leader development.
Succession planning is receiving increasing focus although 64% of executives report that their organizations still don’t have succession plans. Developing emerging talent is recognized as a key organizational strategy.
8. Physician leadership is a clear priority.
New forecasts suggest that by 2020, 75% of physicians could be employed by hospitals and health systems. Their involvement in the leadership of health systems is critical.
9. Workforce engagement is a key ingredient in maintaining quality.
Only 20% of workers are actively engaged in their work. Healthcare leaders recognize the importance of employee engagement but struggle to achieve it. It is a linchpin to quality.
I am sure that none of these trends surprise you but they do provide a good window into what is keeping healthcare leaders up at night. Perhaps one of more of them was not on your radar screen but should be. As leaders, we will need to be both predictive and adaptive in how we respond to challenges.
Read to Lead
Smith, D. & Ricci, C. (2015). B. E. Smith White Paper – Healthcare Trends 2015
© emergingrnleader.com 2015
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