Webinars

As each day goes by, I grow more tired of email solicitations for webinars.  The webinar is a great concept, especially as a means of training and developing staff without spending a fortune on air travel and hotels. Unfortunately, what I have found is that they are the quickest way for attorneys and consultants to enhance or preserve their revenue stream.  I receive no less than twenty solicitations a day and those are the ones that get through the spam filter.   With each solicitation, I also wonder if the quality of webinars has gotten any better.  

I still embrace the concept; however, every one that I have participated in so far wasn't worth my time.  During webinars, I would sit in a conference room or board room with members of my team and we would look at each other in utter amazement that we had paid money for this wealth of "knowledge" that we already possessed.  In fact, in a number of instances we could have done a better job of presenting the webinar.  I am waiting for attorneys and consultants to pay me to attend webinars as they hawk their products and services.  Webinars have reinforced the adage that hiring a consultant is like giving your watch to someone for them to tell you the time and then charging you for that privilege.

Don't get me wrong, I value the knowledge, expertise and guidance provided by attorneys and consultants throughout my career as I have learned a great deal.  However, they need to take that same value and incorporate it into their webinars.

The AAA Rating Downgrade

Being a health care executive, I have an understanding of credit and bond ratings; at least I thought that I did.  I couldn't believe that it took until Friday for at least one of the rating agencies to downgrade the US AAA rating.  With our country close to its second recession, the overall debt burden that now exists, the $140 billion in monthly interest payments on that debt, the rising prices of basic goods, the anemic economic growth experienced over the last two years, the rapidly declining yield on investments, record debt levels in US households, the deficit of 10.6% of the gross domestic product and an unemployment rate of 9.1%, it makes one wonder what took so long for a downgrade.  The rating agencies don't give hospitals any leeway.  If we had comparable indicators in the negative, rest assured we would have been downgraded in a nanosecond.

The Partnership Strategy

Because so many uncertainties exist within our industry, hospitals will find it difficult to be successful going forward.  One strategy that some hospitals are finding success with is to partner or collaborate with others.  Partnerships between providers, payors, purchasers and even patients will be key.  So what's different today that will lead to our success versus previous attempts?  Some of those differences would include the innovative information technology of today, the ability to collect and share data, the ability to align incentives between hospitals and physicians and even payors, the strength of today's clinical leadership, the willingness of physicians to be champions, the knowledge and commitment of today's board members and the application of process improvement approaches throughout our organizations.  Is success guaranteed through these partnerships?  Nope!  However, success has a better chance to occur through these applications.

More Good News for Hospitals......Not Really

Hospitals continue to be squeezed from every direction.  Operating cash flow will continue to contract as payors move toward value based care; there will be significant limitations on fundraising due to the economy  and competition; investment returns will remain volatile; the cost of capital will continue to rise; there will be significant pressures on smaller hospitals and hospitals located in vulnerable markets (rural and inner city); the  significance of quality and size will only increase; consolidations of hospitals and providers will continue; IT requirements will continue to grow; pension pressures will continue for some; tax exempt status questions will intensify and health care reform uncertainties will continue to linger.  Wow, not great news, but it drives the point that as leaders we have to embrace change and prepare our organizations of a very different future.

Advice to Fellow Leaders

Recently, I read an article on hospital CEOs sharing advice to fellow leaders.  Some of the more salient points of that article included: deeply involve the physicians in strategy and operations; be patient centered; stay mission focused; promote change and be positive.  Certainly very good advice. 

No one asked me, but I would add:  be flexible in this ever-changing industry; stay ahead of the curve; develop strategies for a more engaged medical staff; continually assess all aspects of your operation, what continues to make sense and is contributing to the success of your organization; make your employees feel valued as it not only is beneficial to them and to you, but it will positively impact patient satisfaction;  prepare for a transition from a volume focused approach to patient care to a value focused one;  promote what your organization is doing in and for the community; continually stress your economic impact on the region; make sure that you have the very best people serving your organization, if you don't make changes and lastly (at least for now) work to strengthen your influence on health and wellness throughout your community.

Mandatory Flu Shots

It looks like I am going to be faced with an interesting dilemma regarding flu shots prior to the upcoming flu season.    The American Hospital Association and the Maryland Hospital Association are asking hospitals and health systems to impose mandatory flu shots for our employees.  Certainly a great way to reduce the incidence of flu nationwide, but it's not that simple. 

Personally, I get the flu shot each year and I have for as long as I can remember.  I can't think of a better way to protect yourself, your family and each other.  However, there are some who never get the flu shot because they never get the flu.  I have worked side by side with one of the C-Suite executives for the last 15 years. I can't remember her ever missing a day of work due to illness and she has never gotten a flu shot. 

Imposing such a requirement on staff will have its challenges.  However, we need to dramatically increase our vaccination rate one way or another.  More to follow

An Interesting Perspective

Over the weekend, I was reading excerpts from Juan Williams' new book, “Muzzled, An Assault on Honest Debate."  As you will remember, Juan Williams was fired by National Public Radio because he said that he becomes nervous whenever he gets on a plane and there are Muslims on the same flight.  An overreaction on NPR's part, yep!  Political correctness gone amuck, yep!  Anyway, in his book, Juan Williams gives a perspective on illegal immigrants that I found interesting.  He writes that the quickest path to US citizenship for illegal immigrants is to embrace what the US has to offer--not cross the border and celebrate your old language and culture almost to an extreme.  They want to have all of the benefits that come with living and working in the US, but refuse to assimilate into the American culture.  This "in your face" attitude does little to make a case for a path to citizenship.  Again, an interesting perspective and one that I embrace.  This country needs to secure its borders, and then create a path for citizenship for those who are already in the US, but respect that privilege