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| The Monthly Pulse |
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| 'Be a goldfish' and 16 more Ted Lasso lessons for hospital leaders
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| The Story |
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| Apple TV recently wrapped its award-winning TV series, Ted Lasso. The show follows a UK-based football team and Lasso, the American football coach who winds up leading them unexpectedly. While its main focus may seem to be about sports on the surface, there are several deeper leadership messages that can be taken away, many of which are especially applicable in healthcare right now. |
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| What You Should Know |
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| The eternal optimist, Ted Lasso encourages his players to find the good in every situation, and to never focus on the bad for more than 10 seconds (similar to a goldfish’s short-term memory). The character also expresses his vulnerability — a move that can make leaders more relatable — leads with empathy, and empowers his players to embrace challenges. Finally, Lasso reminds us that no one player is bigger than the team, having the courage to take chances can pay off, and we should always keep an open mind to stay teachable no matter how far we’ve come.
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| Hospitals Are Using AI to Answer Some Patient Queries
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| The Story |
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| Four healthcare systems across the U.S. are test driving an AI-powered system that seeks to reduce administrative tasks for clinicians. The tool is powered by Epic’s EHR and Microsoft Azure and will use capabilities like natural language processing to read through emails and suggest responses for commonly asked questions. In doing so, it aims to help clinicians field inquiries more efficiently, freeing up time and minimizing tedious, repetitive work.
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| What You Should Know |
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| Sorting through emails is a time-consuming but necessary aspect of work for many clinicians. As the healthcare staffing crisis persists, healthcare organizations that leverage innovative technology like AI will likely see better outcomes in terms of workforce satisfaction and patient care. If successful, this tool could use predictive text to help clinicians process incoming emails swiftly, which is a good start in reducing some of their administrative burden.
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| 'Burdensome' and 'Difficult': The AHA Takes Aim At New Legislations |
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| The Story |
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| Proposed changes to the Medicaid disproportionate share hospital (DSH) program, Medicare site-neutral payments, price transparency requirements and 340B drug pricing programs have been advanced by the House Energy and Commerce Subcommittee on Health. The American Hospital Association (AHA) quickly presented a written testimony to the House, stating that the proposed program cuts would worsen economic challenges for hospitals and affect patients’ access to quality care. |
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| What You Should Know |
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| While the AHA praised the improvements on price transparency requirements, other proposed changes came under the organization’s scrutiny. The Medicaid DSH reductions, in particular, would result in a $32 billion cut over the next four years, an issue complicated by the fact that projected coverage levels haven’t been met and hospitals have continued providing care for patients for whom they haven’t received payments. Likewise, the 340B proposal would introduce new reporting requirements, an issue the AHA says would introduce new burdens for healthcare systems.
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| Leadership Reflections |
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A New Financial Reality
Economic indicators such as GDP, inflation, corporate earnings, interest rates, and unemployment are pointing in so many different directions right now that it’s hard to get a read on where things are actually headed. It is not surprising, then, that uncertainty dominates our healthcare industry. I recently read the article, 30 health systems ranked by operating margins, indicating that out of these top health systems, nearly half of them are losing money. Of those that are profitable, the margins are extremely slim.
Navigating uncertain economic conditions can pose significant challenges for healthcare leaders. Here are some potential strategies to consider:
- Stay informed to understand the broader economic landscape and its potential impact on the healthcare sector.
- Assess potential risks and opportunities and develop contingency plans accordingly.
- Foster agility and flexibility so you'll be better equipped to navigate uncertainties and seize opportunities as they arise.
- Conduct scenario planning to anticipate various possibilities and prepare strategies.
- Strengthen financial management to weather economic uncertainties more effectively.
- Enhance collaboration and partnerships that could open doors to new opportunities and innovative solutions.
- Prioritize patient-centered care, since a strong reputation can help your organization withstand economic fluctuations.
- Leverage technology and data to streamline processes, improve decision-making, and optimize resource allocation.
- Engage and communicate with stakeholders to build trust, alleviate uncertainty, and help you understand their concerns and expectations.
Economic conditions may be uncertain, but strategic planning, adaptability, and a patient-centered approach can help healthcare leaders successfully navigate these challenges and position their organizations for long-term success.
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| The Latest Governance Trends: Boards are Evolving as Healthcare Changes |
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| American Hospital Association Leadership Summit |
| Sun. Jul. 16 - Tues. Jul. 18 |
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| Healthcare Update: Summer 2023 |
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| National Center for Healthcare Leadership (NCHL) All-Member Conference |
| Mon., Nov. 13 - Wed., Nov. 15 |
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