Tag Archives: CEO

CEO Power Panel: Are your physicians ready for reform?

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http://www.modernhealthcare.com/article/20160903/MAGAZINE/309039989?utm_campaign=socialflow&utm_source=twitter&utm_medium=social

Modern Healthcare CEO Power Panel

Like it or not, ready or not, MACRA is coming.

Anxiety is rippling through the healthcare industry as the initial reporting period for Medicare’s new payment system for physicians fast approaches. Modern Healthcare’s latest CEO Power Panel survey reveals leaders are bracing for uncertainties and challenges generated by the law, formally titled the Medicare Access and CHIP Reauthorization Act.

This coming phase will be extremely painful for doctors, CEOs worry, even as they applaud the overarching goal of paying for healthcare on the basis of quality over quantity. They are keenly aware of the near-term challenges of managing these growing pains and of successfully mitigating potential negative consequences. But they are also optimistic—even confident—that patients and physicians stand to benefit in the long run.

Ex-executive who helped feds with Sacred Heart probe given year in prison

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http://www.chicagotribune.com/news/local/breaking/ct-sacred-heart-hospital-fraud-met-20160824-story.html

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http://www.beckershospitalreview.com/legal-regulatory-issues/former-sacred-heart-executive-gets-1-year-prison-term.html

Aetna CEO’s $131 Million Parachute Biggest Among Health Targets

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http://www.bloomberg.com/news/articles/2015-06-17/aetna-ceo-s-131-million-parachute-biggest-among-health-targets

 

Aetna Inc. CEO Mark Bertolini has the most to gain among top executives at the three U.S. health insurers seen as targets in a potential wave of industry consolidation. Bertolini could receive $131.3 million should he lose his job in a takeover, according to data compiled by Bloomberg. Cigna Corp. Chief Executive Officer David Cordani would get $58.7 million, while Humana Inc. CEO Bruce Broussard’s so-called golden parachute is valued at $26.1 million.

The five biggest publicly traded insurers are all eyeing potential combinations after a two-year lull in big managed-care deals. Anthem Inc. has explored a takeover of Cigna and Humana, and Aetna and Cigna have considered buying Humana, Bloomberg has reported. The Wall Street Journal has said UnitedHealth Group Inc. might be interested in Aetna or Cigna.

We “expect this merger frenzy will culminate in a ‘Big Three’ that is a more efficient industry landscape,” Ana Gupte, an analyst at Leerink Partners, said Tuesday. Humana is likely to be acquired by Aetna or Anthem for $200 to $225 a share, she wrote.

The change-in-control payouts are meant to keep investor interests in mind.

“These protections provide a certain level of comfort for executives to put aside their personal issues and think, ‘What’s in the best interest of shareholders?’” said Yonat Assayag, a partner at ClearBridge Compensation Group, an executive pay consulting firm. “The amounts may seem large, but the cost compared to the value that’s created for shareholders is usually a very small percentage.”

6 thoughts on the state of healthcare from Scripps’ Chris Van Gorder

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http://www.beckershospitalreview.com/hospital-management-administration/6-thoughts-on-the-state-of-healthcare-from-scripps-chris-van-gorder.html

Self-DiscoverySelf-Discovery

Faced with ever-changing rules and regulations, hospital and health system CEOs must constantly keep a pulse on the healthcare industry and be ready to alter their organizational strategy any day of the week. Chris Van Gorder, president and CEO of San Diego-based Scripps Health, talked to Becker’s Hospital Review about some of the biggest challenges and successes that are currently top of mind.

Mr. Van Gorder has led Scripps, a $2.9 billion integrated health system, since 2000. He is a fellow of the American College of Healthcare Executives and served as the 2010 chairman of the association.

His exposure to healthcare began as a hospital patient when he was critically injured while responding to a family dispute. After a long recovery, Mr. Van Gorder started a new career in hospital security, eventually rising through the ranks of healthcare management. Today, in addition to serving as Scripps’ president and CEO, he is a reserve assistant sheriff to the San Diego County Sheriff’s Department, in charge of the Law Enforcement and Search and Rescue Reserves. He also is a licensed emergency medical technician (EMT) and an instructor for the American Red Cross.

Here, Mr. Van Gorder took the time to answer our six questions.

Hedge fund-backed Bay Area health system sees C-suite shake up

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http://www.bizjournals.com/sanfrancisco/news/2016/08/02/hedge-fund-healthcare-verity-health-system-c-suite.html

Less than eight months after becoming CEO of Verity Health System, the successor to the former Daughters of Charity Health System, Mitchell Creem, has been demoted to chief administrative officer. Verity also hired a new COO, B. Joseph Badalian, it disclosed today.

The Redwood City-based system’s board of directors replaced Creem as CEO late last week with Andrei Soran, who was initially hired in April as president and COO.

Verity disclosed the “restructuring of the system’s executive team” on July 28. Board chairman Jack Krouskup said the new CEO “will continue to lead the efforts to revitalize our Verity hospitals to ensure that they continue to serve our communities across California for generations to come.”

Badalian, most recently CEO at Fountain Valley Regional Hospital and Medical Center in Southern California, a for-profit Tenet Healthcare Corp. (NYSE: THC) hospital, is set to start in the new job Sept. 1.

Why revamp the leadership team less than eight months in? “A turnaround is all hands on deck,” Soran told the Business Times late last week. “It’s a major effort, a fairly major turnaround.”

How I’ve Learned To Fight Loneliness And Isolation As A CEO

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http://www.fastcompany.com/3062187/lessons-learned/how-ive-learned-to-fight-loneliness-and-isolation-as-a-ceo

A survey by RHR International found that half of CEOs report experiencing feelings of loneliness in their roles. Of this group, 61% believe isolation hinders their performance. That’s a significant proportion of top executives who are suffering and not performing at their peak. Executive loneliness and isolation is bad for people and bad for business.

In my experience, fear and ego are two of the main causes of this kind of isolation. On the one hand, there’s fear of appearing inadequate and the concern that asking for help could make others doubt your judgment. After all, CEOs are supposed to have all the answers—the buck stops with you. Meanwhile, your ego is telling you that you really don’t need others to help make big decisions; who knows your business better than you do? Combined, these two factors can prevent even highly capable CEOs from turning to others for support when they need it most.

Good Vibrations: The CEO’s Practical Guide to Create and Amplify Energy

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https://www.bcgperspectives.com/content/articles/leadership-talent-people-organization-good-vibrations-ceos-practical-guide-create-amplify-energy/?utm_source=201607Q2TOP&utm_medium=Email&utm_campaign=otr

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CEOs who harness energy accelerate value creation, while those who deplete energy or allow it to dissipate struggle to achieve their goals. Managing energy, of course, is not just the CEO’s job. But it is especially important for the CEO to master the skill. CEOs must connect with, influence, and mobilize individuals who are often dispersed by thousands of miles. They must also engender enthusiasm, trust, and confidence among people who, in this age of social media, are often more likely to trust their peers than their leaders. What’s more, CEOs increasingly interact with outside stakeholders, where the first impression is often the only one they get to make. There is little opportunity for a do-over.

Healthcare CEO faces life in prison for fraud that led to 2 patient deaths

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http://www.beckershospitalreview.com/legal-regulatory-issues/healthcare-ceo-faces-life-in-prison-for-fraud-that-led-to-2-patient-deaths.html

Fraud

The CEO and co-owner of a Maryland diagnostics company is facing life in prison after a federal jury convicted him of two counts of healthcare fraud that resulted in death, according to the Department of Justice.

On Wednesday, a federal jury found 67-year-old Rafael Chikvashvili, PhD, guilty of healthcare fraud. Dr. Chikvashvili was the co-owner and CEO of Owings Mills, Md.-based Alpha Diagnostics, which was a portable diagnostic services provider, principally of X-rays.

According to evidence presented at trial, Dr. Chikvashvili was involved in a scheme to defraud Medicare and Medicaid. He and others allegedly conspired to create false radiology, ultrasound and cardiologic interpretation reports. He also allegedly submitted insurance claims for medical examination interpretations that were never completed by licensed physicians, according to the DOJ.

Dr. Chikvashvili allegedly instructed his nonphysician employees to interpret X-rays, ultrasounds and cardiologic examinations, which, according to testimony provided at trial, resulted in two patient deaths.