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Delivery System Transformation, Strategic Planning, Issues & Trends

In the 2017-2018 Public Company Governance Survey conducted by the , 600 directors of publicly traded companies were asked what they consider the board’s priorities on behalf of the organizations they serve. Their top five:

Is Strategic Planning Getting Adequate Attention in Hospital Boards?

As strategic planning becomes a more intense focus for hospital boards, lessons from publicly traded companies may be instructive.

Financial Oversight, Care Delivery, Financial Management, Strategic Planning

Hospitals and health systems are continuously striving to reduce costs and improve the efficiency of care. It is useful to consider the impact of measuring the “total cost of care” on hospitals and health systems, as well as contemplate what steps health care leaders need to take.

Governance Effectiveness, Leadership, Leadership, Strategic Planning

High-profile companies like Wells Fargo, Uber, Equifax, The Weinstein Co., Fox News and many more have recently garnered media attention for their leadership and corporate cultures. And the boards of companies including Whirlpool, CACI International and Citigroup have formed culture committees to surveil the climate in their respective organizations.

Governance Effectiveness

Directors and trustees serving health care organizations, whether investor-owned or nonprofit, bear responsibility for their organization’s corporate culture and, with that, enormous risk.

And most feel less than prepared, lacking the information they need. That’s the key finding from a focus group profiled in the July/August issue of The Corporate Board, a bimonthly advisory for directors of publicly traded companies.

Delivery System Transformation, Financial Oversight, Governance Effectiveness, Strategic Planning

SNAPSHOT

Hospital and system leaders say that they are acclimating to the transformed health care environment, but risk-based contracts, pressure to grow and regulatory scrutiny continue to buffet their organizations.

Over breakfast, a small group of hospital and health system CEOs recently shared their challenges and compared notes. Here’s what I heard: They believe the U.S. health system is at an unprecedented tipping point.

Strategic Planning

Snapshot

Some of the most pressing strategic issues in health care — long-term care integration, prices, medical necessity, new sources of income and leadership skills — call for additional board scrutiny.