Latest / Becker’s Healthcare Podcast / Building a Sustainable Health System Through Community Focus and Innovation with Dr. Greg Rosencrance

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Building a Sustainable Health System Through Community Focus and Innovation with Dr. Greg Rosencrance · Becker’s Healthcare Podcast

• 0:02
  - There's a small circle of people who truly
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  - understand what it takes to lead a health
• 0:05
  - system right now. The decisions are enormous.
• 0:08
  - The variables are constantly shifting, and the stakes
• 0:11
  - of getting a call wrong don't stay contained.
• 0:14
  - That's not a complaint. It's a structural reality.
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  - And it's why the most effective c suite
• 0:19
  - leaders are deliberate about where they go to
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  - pressure test their thinking.
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  - Becker's fourteenth annual CEO and CFO roundtable
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  - brings together more than 1,500
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  - executive level attendees
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  - and nearly 400 speakers for four days built
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  - around growth, financial sustainability,
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  - workforce strategy, and the leadership questions that don't
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  - have easy answers.
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  - Join us November second through the fifth in
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  - Chicago.
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  - For the agenda and event details,
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  - visit beckershospitalreview.com
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  - and click on the events tab in the
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  - upper right.
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  - This is Laura Dirdo with the Becker's Healthcare
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  - Podcast.
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  - I'm thrilled today to be joined by doctor
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  - Greg Rosenkrantz, president and chief executive officer at
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  - WVU Medicine Thomas Hospitals.
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  - Doctor Rosencrantz, it's a pleasure to have you
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  - on the podcast today. No. Thank you for
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  - having me on. It's a pleasure to to
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  - be here and to be on the podcast.
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  - Fantastic. Well, I'm excited for our conversation. I
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  - know we're gonna dig into some of the
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  - cool things you've been doing this year as
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  - well as how you're thinking about the future.
• 1:16
  - But before we dive in, can you tell
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  - us just a little bit more about yourself
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  - and the back of us? Yeah. I I
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  - am a general internist by training.
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  - I am still board certified. I still see
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  - a handful of patients, and my current role
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  - was president and CEO of the hospital.
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  - So that's a little bit unique.
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  - Historically, I I was the chair of the
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  - Department of Medicine, dean for School of Medicine
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  - division here in Charleston,
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  - left, and joined the Cleveland Clinic
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  - about twelve, thirteen years ago now. I spent
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  - twelve or thirteen years there as president of
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  - the hospital and chairman of the Medicine Institute
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  - and then came back home. Charleston is my
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  - hometown, and it's where I live with my
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  - wife and my sons and
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  - four grandchildren.
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  - So it's a it's a great environment for
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  - me.
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  - Oh, that's amazing to hear. And and what
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  - great experience,
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  - to be able to get, you know, to
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  - a variety of different institutions,
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  - and then bring back home and and really
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  - make a difference on the clinical side as
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  - well as, from an administrative side too. So,
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  - that's really cool to hear. Now could you
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  - give us a quick state of the union
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  - for, Thomas Hospitals?
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  - What's gone well this year, and what are
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  - you focused on for $20.20 cents? Yeah. I
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  - think so a couple of things. We continue
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  - to see clinical volume growth. We see,
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  - both all of our service lines with with
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  - increased
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  - number of visits. And so people are voting
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  - with their feet. So that's gone really, really
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  - well.
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  - Financially, we have turned the corner and we're
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  - being consistent in in our finances on a
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  - monthly basis, and and we're ahead of budget.
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  - So that that is really
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  - reassuring and looks good for us. We've really
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  - been focused on our operations,
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  - throughout this year and last and, specifically,
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  - length of stay,
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  - throughput opportunities,
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  - what does it look like to
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  - be efficient,
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  - not just from a cost perspective, but from
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  - a caregiver and a patient
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  - focus,
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  - and what that looks like. We've also been,
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  - you know, focused on,
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  - very targeted recruitment of physicians, science, specialty physicians,
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  - and others, as well as retention and recruitment
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  - of of nursing staff. I think those have
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  - been the key areas for us, and we
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  - continue to execute on those.
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  - That's great to hear. You know, and I
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  - I think so much of what you said
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  - resonate with our our listeners as well because,
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  - you know, right now,
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  - a lot of attention I know is being
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  - paid and focused
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  - to how, you can figure out that,
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  - getting that financial stability while also understanding the
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  - big challenges in knowing what you need ahead.
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  - So, how were you able to get to
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  - this place where, you know, you really feel
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  - like you're in a,
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  - a financially strong place and have been stable
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  - for the last year or two and and,
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  - you know, definitely,
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  - are are getting into a spot where you're
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  - feeling good about the future. What did it
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  - take to get there,
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  - from the,
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  - you know, broader strategic lens?
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  - So I think it takes a a couple
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  - things. Number one,
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  - we have to focus on the patient. What
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  - are the needs of our communities? What
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  - is the right thing to do for our
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  - patients in every given situation,
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  - whether it's strategic
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  - or whether it is one on one with
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  - the patient? You know, what's in the patient's
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  - best interest? Whatever that is, that's what we're
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  - gonna do. I think focusing on our communities,
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  - making sure that we're integrated and integral to
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  - the fabric of our communities
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  - helps build local support and that, you know,
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  - esprit de corps, if you will,
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  - with with the communities that we serve is
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  - important. And I think focusing on,
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  - you know, some key areas as our population
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  - ages here, we focus on
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  - a couple key areas, orthopedics,
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  - cardiovascular
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  - services,
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  - neurologic services, and cancer services. Those those are
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  - drivers for our community.
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  - Not that we, you know, neglect or ignore,
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  - you know, women's health services and pediatrics. We
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  - don't. We've started new programs in those areas
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  - as well.
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  - But the preponderance of our population
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  - is served as a slightly older and would
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  - be served by those paid service lines.
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  - Got it. That makes a lot of sense
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  - and, you know, really will be helpful
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  - for thinking about the future and understanding what
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  - it really takes in order to serve the
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  - community well. And I love that focus on
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  - the community first and foremost.
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  - Now I am curious. I know there is,
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  - you know, a lot to think about when
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  - you look at the next couple of months,
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  - but what are some of the biggest headwinds
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  - you're keeping your eye on and preparing for
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  - in the next year or so?
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  - I think, you know, it's a it is
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  - a
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  - a constant lens we have on this, but
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  - I think there are reimbursement
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  - pressures when you look at at Medicare, Medicaid,
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  - and some of the
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  - new legislative
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  - mandates coming down the road. That is certainly
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  - a headwind.
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  - And when you couple that with some of
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  - the inflationary
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  - pressures, whether it's on
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  - drugs, whether it's on devices, whether it's on,
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  - you know, salary lines as we compete for,
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  - you know, top talent. I think it's it's
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  - the combination of reimbursement pressures and inflationary
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  - pressures and how to how to best manage
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  - that as we we go forward. I think,
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  - you know, you have to look at the
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  - the big picture and say what makes sense
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  - and what is sustainable and whatever we do.
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  - That makes a ton of sense. And I
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  - I know,
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  - in looking at
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  - that those numbers in in the future, it
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  - can be a challenge, of course, to know
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  - exactly what's gonna happen, especially with the impact
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  - of some new level of legislation and HR
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  - one coming down the pipe.
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  - And and, when you're working with your executive
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  - team on how to prepare for that, are
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  - you looking at,
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  - different ways to bring in revenue or or
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  - partnerships? What are some of the things that
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  - are really top of mind when you are
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  - trying to figure out how to make sure
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  - that your organization is is ready and prepared
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  - and at the same time, you know, in
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  - continue to be in growth mode over the
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  - next several years or so? Yeah. I I
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  - think there's a couple of things. Number one,
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  - looking at what we currently offer, what do
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  - we do that we need to continue doing
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  - and do more of that is sustainable
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  - and actually has an ROI? I think that
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  - is the key. I think number two, we
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  - have to look at not only, you know,
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  - what
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  - is growth in revenue and a growth opportunity.
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  - We have to look at, you know, what
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  - are the innovations that can help support and
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  - sustain us? What is
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  - work that, you know, is redundant that, you
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  - know, quite frankly, human beings don't like to
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  - do anyway that can be automated? I think
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  - that is
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  - something
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  - when you look at the cost pressures of
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  - salary lines and other things, you have to
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  - look at innovation.
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  - It's a way to solve out of the
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  - box problems,
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  - when you look at that.
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  - When you look at you're not gonna cut
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  - your way to prosperity.
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  - So, you know, cost cutting alone won't get
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  - us to where we wanna be. I mean,
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  - we have to be efficient and we have
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  - to provide
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  - the needed services for our communities.
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  - But the the way forward is how do
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  - we innovate so that we can
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  - maintain
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  - necessary services,
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  - provide a great work environment, a great patient
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  - experience,
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  - and b, provide value to our communities
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  - in a cost effective manner close to home.
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  - I love that. I think it makes a
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  - ton of sense and and really reflects how
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  - you wanna be thinking, forward looking, and trying
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  - to make sure you're supporting,
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  - the internal team as well as, having service
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  - availability and accessibility
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  - across the board. Now when you look into
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  - the future as well, what are some of
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  - the best opportunities for growth in the next
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  - two to three years?
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  - I think that we'll continue to look at
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  - our our
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  - signature service lines, you know, orthopedics,
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  - cardiovascular,
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  - neurological,
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  - and neurosurgery
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  - services, and cancer services.
• 9:16
  - I think when you look at, as a
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  - broad spectrum and a broad
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  - comment, you know, all ambulatory services as we
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  - see a shift to outpatient and ambulatory,
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  - both procedures and diagnostics
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  - and services,
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  - we'll continue to focus on
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  - what is patient convenience,
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  - access, and high quality care close to home
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  - for our patients, so an ambulatory focus.
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  - And lastly, a niche for us is we
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  - partner with local businesses and local industry is
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  - is occupational health. I think we will get
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  - into that space in a more robust manner
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  - so that we can partner with local employers
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  - and their their workforce.
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  - A vibrant workforce and a vibrant
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  - economy locally
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  - is important to everybody's success.
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  - That makes a a lot of sense and,
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  - you know, having that really,
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  - strong sense of what is going to be
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  - important to double down on and increase in
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  - terms of the services and then also finding
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  - ways, you know, that you can be creative
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  - and and expand some new opportunities too,
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  - which makes a lot of sense. When you're
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  - thinking about those partnerships for the occupational services,
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  - how have you gone about, beginning to build
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  - that, and and what does that look like?
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  - How do you,
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  - build that kind of internal engine and then
• 10:39
  - have the right partnerships in place to make
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  - it run?
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  - So I think you have to engage with
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  - your local business leaders, with your local industry
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  - leaders,
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  - and develop you know, we have a fairly
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  - robust occupational health program across the system,
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  - that I think gets us a competitive advantage,
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  - across the entire state as we have multiple
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  - sites of locations. So we're not
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  - simply limited to, you know, one geographic area.
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  - I think providing that for
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  - businesses or larger
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  - businesses that have,
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  - you know, employees
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  - spread out across the state, I think, is
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  - very, very helpful.
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  - Developing the expertise and the trust,
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  - with the employers
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  - and the employees,
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  - is important.
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  - And to provide those full service wrap around
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  - services if they need more than occupational health,
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  - we want to be the
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  - health care provider system of choice here in
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  - West Virginia.
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  - Absolutely. I I love that, and thank you
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  - for digging a little bit deeper there.
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  - I know you mentioned outpatient ambulatory too, which
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  - really is,
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  - top of mind and growing for many hospitals
• 11:52
  - and systems. So what does that look like
• 11:53
  - in particular for you?
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  - How are you really navigating through some of
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  - those
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  - changes,
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  - as more care is ambulatory and outpatient in
• 12:03
  - in building that network in a strategic way
• 12:05
  - while also keeping
• 12:06
  - the inpatient hospitals robust and and available for
• 12:09
  - patients who need them?
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  - I think that they
• 12:12
  - it's not an either or. It's it's a
• 12:14
  - both and. And so with the ambulatory,
• 12:18
  - systems, it's what makes sense to do in
• 12:20
  - an ambulatory setting. Right? I mean, what should
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  - be done in a in a complex
• 12:25
  - tertiary
• 12:26
  - hospital versus in a in an outpatient or
• 12:29
  - a one day surgery center
• 12:31
  - or someplace in between?
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  - And I think when you look at ambulatory
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  - services,
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  - you look at a couple things from a
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  - patient lens. And again, we always try to
• 12:42
  - look at it from a patient's perspective.
• 12:45
  - How easy is it to
• 12:46
  - have those services performed, whether it's an imaging
• 12:49
  - service, a lab draw,
• 12:51
  - a physician visit, a procedure such as a
• 12:54
  - colonoscopy
• 12:55
  - or a minor surgery.
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  - You know, how easy is it when you
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  - go through and you actually have a schedule
• 13:01
  - to get it done? That's that's that is
• 13:03
  - a a point
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  - that's really important to us. But beyond access
• 13:07
  - and how easy is it, you know, access
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  - is
• 13:10
  - we can say access, you'll get this within
• 13:13
  - seven days or this within fourteen days.
• 13:16
  - I think it's also important to to use
• 13:18
  - the construct of ease of use.
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  - Right? If you have to make 15 phone
• 13:22
  - calls to,
• 13:24
  - you know, get your appointment within seven days,
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  - that's not ease of use. So it's access
• 13:28
  - and ease of use of our systems and
• 13:30
  - how streamlined are they and effective and efficient
• 13:33
  - from a patient's perspective
• 13:35
  - is also really important. So as we grow,
• 13:38
  - we have to look at access and ease
• 13:40
  - of use and putting the right
• 13:43
  - facilities in the right places
• 13:45
  - so that we can provide that for our
• 13:47
  - for our patients.
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  - Absolutely.
• 13:50
  - I I appreciate that. Thank you so much
• 13:53
  - again for, you know, talking through a strategy
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  - there and, you know, either or is not
• 13:57
  - the case, but the and mentality,
• 13:59
  - makes all the difference.
• 14:01
  - Now
• 14:02
  - before we wrap up here, I'm curious, who
• 14:03
  - do you admire as a leader really from
• 14:05
  - any industry and why?
• 14:08
  - So I think for me, you know, it
• 14:10
  - it happens to be in the health care
• 14:12
  - industry. But
• 14:14
  - for for a long time, I always admire
• 14:16
  - the Mayo brothers, specifically William Mayo. He's he's
• 14:20
  - one of the founders of the Mayo Clinic.
• 14:23
  - You know? And so the question is why.
• 14:26
  - And it's not just because he was a
• 14:28
  - physician
• 14:29
  - and found that the clinic and they've been
• 14:31
  - successful.
• 14:32
  - You know, he he believed that medicine should
• 14:35
  - be,
• 14:36
  - you know,
• 14:37
  - arranged around the patient,
• 14:39
  - that patient first mentality
• 14:41
  - what's in the best interest of the patient.
• 14:43
  - And I believe that firmly, and I believe
• 14:45
  - that if we do that, we'll be successful
• 14:48
  - in the other domains. He believed in, you
• 14:51
  - know, multidisciplinary
• 14:53
  - teamwork,
• 14:54
  - which
• 14:55
  - is critically important.
• 14:57
  - And he he fostered culture of humility, learning,
• 15:01
  - and continuous improvement, all of which are important
• 15:05
  - for an organization's
• 15:06
  - success. So I've tried to
• 15:09
  - emulate those, you know, throughout my career, and
• 15:13
  - he's been
• 15:15
  - someone that I've looked up to for a
• 15:16
  - long time.
• 15:18
  - And that's amazing to hear. What a great,
• 15:20
  - example of somebody who,
• 15:23
  - had such a a strong mission and drive,
• 15:25
  - to build something that was so meaningful to
• 15:27
  - the community and then obviously has grown into
• 15:29
  - a huge international enterprise in Mayo Clinic. So,
• 15:33
  - that's really cool to hear. Thank you so
• 15:35
  - much for joining us on the podcast today.
• 15:37
  - This has been such a fun conversation. I
• 15:39
  - I really appreciate
• 15:40
  - the time and opportunity to connect with you,
• 15:43
  - and I'll look forward to seeing you as
• 15:44
  - well, doctor Rosencrantz at the CEO CFO roundtable.
• 15:48
  - And I will be speaking on a panel
• 15:49
  - and,
• 15:51
  - being able to dig deeper into some of
• 15:52
  - these themes here. So it'll be fun to
• 15:54
  - have the opportunity to see you in person.
• 15:56
  - Alright. Likewise. Look forward to meeting you. Thanks
• 15:59
  - so much for the help of Kennedy.