Recently, I provided a response to a question (5 Things Nobody Told Me Before I Became CEO) for a national publication. My answer follows.
What still amazes me is the amount of knowledge a CEO needs to have based on the complexity and ever-changing aspects of the healthcare industry. In addition to the day-to-day requirements of running a health system, a CEO needs to be aware of so many other aspects of the industry. From federal requirements to state regulations; from financial planning to strategic planning; from clinical integration to health information technology; previously the CEO could get away as a generalist, but not anymore.
We recently completed the building of a new hospital. I assigned the administrative oversight responsibilities to a vice president. He did an exceptional job, but for the 35-month construction period, even with a dedicated administrative officer, approximately 60 percent of my work day was consumed by some aspect of the building project. I had to become an expert in yet another aspect of this business. It’s still a job that I love doing in an industry that I have been a part of for more than 36 years.