Hospital financial performance continues to present significant challenges. While median operating margins are up, 40 percent of organizations are still losing money. That means it’s critical to continue to lean in around harnessing the power of philanthropy as an alternative revenue source. For more on the current financial state of health care, read here: https://lnkd.in/eTUK2cqj
Betsy Chapin Taylor, FAHP’s Post
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Thank you so very much to each of Accordant's clients, to the amazing Accordant team and to our colleagues and collaborators across the field for ten wonderful years. This firm started as a dream to elevate the practice of health care philanthropy. It came from a deep desire to make this noble more relevant, more resonant and more impactful. This firm was also born out of a genuine passion and a driving purpose to care for the health and well-being of all people. Each day, I am so honored and proud to get to be part of this fortifying mission. Ten years ago, there were those of you who took a huge chance to hire me when I was a single consultant with no brand name behind me--but you hired me anyway. Ten years ago, there were others of you who left good jobs to join a firm nobody had ever heard of that might or might not ever get off the ground--John Donovan and Michael Beall, you especially came when there was nothing here but a crazy idea and one crazy girl (me). I am so grateful for those huge risks that were taken on each side to support my dream to try to add new ideas and new value to this field. Those were investments of confidence that can never be adequately thanked or ever repaid. There are a lot of businesses that never make it to their 10th birthday. I greet Accordant's 10th with a huge dose of humility and a bigger dose of gratitude. It has been the most amazing ride. And, we have made a difference here. Thank you to each of you who have allowed us to be your partners in making a difference here. It has been an honor to work alongside great organizations to achieve big dreams through the power of philanthropy. Now...all my beloved colleagues at Team Accordant, it's time to go do more... Pamela Ronka Maroulis, FAHP, CFRE, Susan Attwell, CFRE, Michael Beall, Tim Brown, Sarah Burdi, CFRE, Linda Roszak Burton, Lori Counts, FAHP, CFRE, John Donovan, Amy Dorrill, FAHP, Debbie Ferguson, CFRE, James Gold, Javin Peterson, Elizabeth Powell, PMP, Cindy Reynolds, CFRE, Heather Wiley Starankovic, CFRE, CAP, Erin M. Stitzel, FAHP, Ali Reiner Trolsrud, Andrew Watt, FCIoF, Livvy Zimmerman, Michelle Burke Rovang. #AccordantLove
We are beyond thrilled to celebrate Accordant's 10th anniversary with you. Over the past decade, we have had the privilege and honor of working alongside forward-thinking, passionate and dedicated partners like you, making a meaningful impact in health care philanthropy together. Your tireless and noble work has been crucial in driving positive change and innovation in our field. This journey has been more than a professional endeavor—it has been a shared mission and a collective passion to elevate health and well-being for the communities we serve. As we look back on the past 10 years, we are filled with pride and excitement for what the future holds. Thank you for being an essential part of our journey. Here’s to many more years of partnership and impact! Explore some of Accordant's greatest achievements and insights from the past decade: https://ow.ly/B0f850SsMbU #healthcare #philanthropy #10thanniversary
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Hospital and health system boards are grappling with fast-evolving issues and balancing often-untenable agendas in an increasingly fluid and complex health care operating environment. That means board leaders must come prepared to provide agile and purpose-driven leadership and to harness the power of a range of experiences and perspectives. While talent is a linchpin of performance, many boards struggle to identify and attract great members--and a health care board will be only as strong and effective as it is designed to be. To improve the quality of boards, we must improve the selection of individual board members—which demands approaching board selection with deliberate thought and intention. Simply, there is too much at stake to accept the status quo. I am honored to be presenting an extended, pre-conference session at the American Hospital Association Leadership Summit in July on Selecting Exceptional Board Leaders to Foster Inspired and Effective Governance. In this session, we will explore how to implement a strong and stable framework to identify and recruit new board members well-suited to lead in the fast-changing health care environment as well as how to tailor selection criteria to your organization's strategic needs and opportunities. You can see more here: https://lnkd.in/e8ea3x6a And, I can't wait to see you in San Diego... #healthcare #leadership #boards #governance
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A drumbeat about the acute burnout faced by clinicians continues to plague the healthcare industry — and rightly so. Today, 49% of physicians say they are burned out. Further, one in five physicians indicate they are likely to leave their practice within two years. Burnout harms individuals and encompasses a variety of injuries including chronic stress, depression, exhaustion, and loss of joy in work as well as increased substance abuse and suicide. Clinician burnout clearly presents a wicked problem to address. However, the negative impacts of burnout in healthcare extend far beyond clinician well-being. As Dr. Thomas L. Schwenk said in a recent article in JAMA, physicians have effectively been the "proverbial 'canary in the coal mine.' While the canary may be sick, it is the mine that is toxic. Caring for the sick canary is compassionate, but likely futile until there is more fresh air in the mine." Therefore, it is imperative to usher fresh air into the mine by pulling up to understand and address burnout in a more holistic and comprehensive manner.” Burnout is a critical issue…to read more about the issues, please continue reading in the latest issue of Wharton Healthcare Quarterly. Linda Roszak Burton and I are honored Z. Colette Edwards, MD MBA has once again invited us to be part of her amazing publication with this latest article “Executives Face a Moral and Business Imperative to Address Burnout”
Executives Face a Moral and Business Imperative to Address Burnout
whartonhealthcare.org
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You need a "sexy" project if you are going to raise meaningful money. Yeah, I hear you... I know you raised money before for the project that was not. However, you have to just think about it for a minute. You CAN raise money for... the replacement CT that offers no new clinical benefit the medical office building that doesn't bring new clinicians or capabilities the software upgrades to the EMR the kitchen upgrade fixing the elevators This list could go on and on and on. However, honestly...why would you do that? Donors give to be part of transformation and elevation. Donors give to effect change. Donors give to be part of something bigger than themselves. So, they may give you something out of love and loyalty. However, their best gifts will be to something that matters. So, go find that project of consequence rather than just settling for something. Donors deserve to be part of something scintillating. #philanthropy #projects
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Health care organizations face an inflection point. With operating margins hovering at historically low levels, organizations urgently require funds not only to invest in core needs like physical plants, technology and clinical programs but also to fuel growth, to drive care transformation and to address expanding priorities around social drivers of health, access, equity and well-being. This makes it critical for all of the health care organization’s financial resources to be deployed to their most effective and best use; yet many organizations still diminish the potential impact of philanthropy by using charitable dollars for initiatives outside their strategy. Given how philanthropy deployment can significantly influence a health care organization’s ability to invest in future opportunities and outcomes, organizations should pursue alignment between strategy and philanthropy. Read more in the lastest issue of Trustee Insights from American Hospital Association in the attached or here: https://lnkd.in/dE5E8fCu This article is shared with the permission of the American Hospital Association. Thank you so much to the exceptional executive leaders who graciously shared their time and perspectives for this article. #Healthcare #Leadership #Philanthropy
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Are you anxious to influence and engage your CEO? Securing influence starts with demonstrating your own commitment and reliability. Build a strong professional relationship through fostering mutual respect and seeking to understand his or her goals. Show initiative by taking on challenges and proposing innovative solutions. Introduce your CEO to other key stakeholders and allies. Communicate effectively, and keep your CEO informed about your ideas and progress. Actively listen and provide valuable feedback. Be proactive, anticipate needs and address issues before they arise. By demonstrating your exceptional qualities as a valuable leader you not only gain your CEO's trust and engagement but also lead and inspire your own team. #leadership #engagement Accordant
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This is an insightful post. Exploring alternative revenue sources like philanthropy can indeed make a substantial difference. It's interesting to consider how healthcare organizations can develop strategic partnerships to enhance their financial resilience. How are you seeing innovative approaches to philanthropy impact these organizations?