Healthcare Entrepreneurship: Sleepless in the C suite

Healthcare Entrepreneurship: Sleepless in the C suite

Healthcare Entrepreneurship: Sleepless in the C suite

5 years ago, the three things that kept CEOs up at night were talent, operating in a global marketplace, and regulation and legislation. 

Now, things have changed. One summed it up deftly: “How to most effectively communicate with all employees remotely and show empathy while running around with [my] hair on fire trying to save the current business while at the same time trying to shape the future of the company in a 'new normal' environment.”

Other topics mentioned by CEOs included virtual on-boarding, sales-pipeline restructuring, performance management, M&A acquisition, managing layoffs and furloughs, rethinking the customer experience, and creating financial projections with an unprecedented number of unknown factors.

In short, almost every aspect of doing business must be completely rethought for both short-term survival and long-term advantage—and CEOs are profoundly aware of that.

For many sick-care leaderpreneurs, they have much more contributing to their insomnia.

  1. How to ensure the safety of employees and customers
  2. How to take over as the CEO working remotely
  3. Managing the risings costs of health insurance and providing care
  4. Finding and delivering healthcare value
  5. Using new digital health technologies to improve quality, lower costs, increase equitable access, improve the user experience and reduce administrative overhead.
  6. Lobbying to change the rules
  7. Finding the talent to win the 4th industrial revolution
  8. Work from home productivity using virtual care technologies
  9. Changes in medical payment policy, particularly as it applies to Medicare, Medicaid and COBRA coverage
  10. How to innovate during a pandemic
  11. How to raise money for your startup and sustain technology transfer
  12. Knowing when to pull the plug
  13. How to hire physician entrepreneurs
  14. How to engage employed doctors
  15. How to bridge the gap from the now the new

According to a recent McKinsey analysis, confronting this unique moment, CEOs have shifted how they lead in expedient and ingenious ways. The changes may have been birthed of necessity, but they have great potential beyond this crisis. In this article, they explore four shifts in how CEOs are leading that are also better ways to lead a company: unlocking bolder (“10x”) aspirations, elevating their “to be” list to the same level as “to do” in their operating models, fully embracing stakeholder capitalism, and harnessing the full power of their CEO peer networks. 

They don't teach you this stuff in HA school or in your MD/MBA program.

Is it any wonder that the CEO turnover rate is so high?

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs.

Share this article

Leave your comments

Post comment as a guest

0
terms and condition.
  • Tommy Dunn

    Solid advice

  • Jason Tang

    Most CEOs are reluctant to invest

  • Mike Hull

    Thanks Dr Meyers

  • Sam Russell

    Excellent info

Share this article

Arlen Meyers, MD, MBA

Healthcare Expert

Arlen Meyers, MD, MBA is a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org. He has created several medical device and digital health companies. His primary research centers around biomedical and health innovation and entrepreneurship and life science technology commercialization. He consults for and speaks to companies, governments, colleges and universities around the world who need his expertise and contacts in the areas of bio entrepreneurship, bioscience, healthcare, healthcare IT, medical tourism -- nationally and internationally, new product development, product design, and financing new ventures. He is a former Harvard-Macy fellow and In 2010, he completed a Fulbright at Kings Business, the commercialization office of technology transfer at Kings College in London. He recently published "Building the Case for Biotechnology." "Optical Detection of Cancer", and " The Life Science Innovation Roadmap". He is also an associate editor of the Journal of Commercial Biotechnology and Technology Transfer and Entrepreneurship and Editor-in-Chief of Medscape. In addition, He is a faculty member at the University of Colorado Denver Graduate School where he teaches Biomedical Entrepreneurship and is an iCorps participant, trainer and industry mentor. He is the Chief Medical Officer at www.bridgehealth.com and www.cliexa.com and Chairman of the Board at GlobalMindED at www.globalminded.org, a non-profit at risk student success network. He is honored to be named by Modern Healthcare as one of the 50 Most Influential Physician Executives of 2011 and nominated in 2012 and Best Doctors 2013.

   

Latest Articles

View all
  • Science
  • Technology
  • Companies
  • Environment
  • Global Economy
  • Finance
  • Politics
  • Society