Question: Is your governance model operating at peak performance?
The healthcare industry is undergoing a complex transformation. Organizations are adapting to shifts in care delivery and reimbursement models, increased clinical integration, complex business relationships and governance structures, stringent regulations and rapid technological advancements. Despite all this change, most healthcare organizations haven’t focused on transforming governance which could be a costly mistake.
According to the Center for Healthcare Governance, “The dramatic transformation taking place in the way in which health care is financed and delivered in communities across the nation poses heightened demands on board leadership and governance,” and is “compounding the growing need for diligent, high-performance governance.”
The governance practices that worked for healthcare organizations in the past will not get them where they need to be tomorrow. Traditional Board education and training provide a good foundation but are not enough to make the necessary shifts and they won’t build a high performance Board.
A more holistic approach to Board development is needed to transform governance and produce positive results in healthcare organizations. An optimal approach to transforming governance in healthcare organizations should address the People (identifying and leveraging individual and collective strengths), Governance Structures, Processes and Performance and will incorporate all key players: the Board, it’s Members and Chair, the CEO and Senior Leadership Team, and Subsidiary Boards and their key leaders.
How to begin to address transforming governance: Assess your governance model within your healthcare organization as well as the current performance based on leading practices. Then identify opportunities for rapid improvement that will lead to higher organizational performance.
As coaches, it is our privilege to partner with healthcare leaders across the country as they work to raise the bar on their governance.
In the course of my coaching practice, particularly in this period when so many healthcare organizations are feeling significant financial pressure, a frequent frustration voiced by executive leaders has been the slow pace at which their organizations are realizing improvement in various performance metrics. Faced with that frustration, many have chosen to take the straightforward […]