On November 12th, Ketul will serve on the panel “Striking the Balance Between Financial and Quality Initiatives” at Becker’s 8th Annual CEO + CFO Roundtable. As part of an ongoing series, Becker’s is talking to healthcare leaders who plan to speak at the conference, which will take place November 11-13, 2019 in Chicago.
To learn more about the conference and Ketul’s session, click here.
Question: If you acquired $10 million dollars with no strings attached today, how would you invest or spend it?
Ketul J. Patel: At CHI Franciscan, we are focused on building healthy communities and advocating for those who are poor and vulnerable. As one of the largest nonprofit health systems in Washington state, CHI Franciscan cares for many of the region’s poorest and underserved populations. In 2018, we provided more than $196 million in community benefit—free care, reduced care, and community programs—a practice that was established by our founding Sisters more than 125 years ago and remains part of our mission and strategic focus today.
With $10 million extra dollars, I would invest in additional programs that increase access for the most vulnerable in our communities while also addressing the social determinants of health, specifically for those experiencing social inequity and living on the margins of society. We need to take a closer look at how to care for our communities holistically by solving the social and environmental factors that impact an individual’s health and wellness.
Q: There is a lot to improve upon in healthcare. Of the many issues that hold your attention, what is the one you consider exceptionally imperative and urgent?
KP: Behavioral Health. There is an urgent need for access to behavioral health care facilities and resources throughout our country, and the need is increasing each day. As health care providers, we have a social responsibility to provide solutions for our communities and I believe we are at a critical tipping point.
Earlier this year, CHI Franciscan opened a new 120-bed inpatient behavioral health hospital in our community in partnership with our largest competitor. The new facility will be a tremendous resource for our region however the demand is still great, and we continue to examine ways to better care for individuals in need of short and long-term behavioral health care.
Q: Healthcare leaders today need skills and talents that span beyond those emphasized during formal training and higher education. What is one specific competency that you learned or sharpened in real life?
KP: Be open to change, collaborate with all levels of your team, and practice a growth mindset. In the years I’ve been in the health care industry only one thing has remained constant: change. Embracing change with a growth mindset rather than an obstacle strengthens your leadership abilities and prepares you to better manage change in the future.
Additionally, be collaborative. Surround yourself with people who challenge and inspire your thinking and involve more people than just leadership in the decision-making process. I really value the ideas that come from our front-line staff and clinicians because they are the ones at the forefront of our core business—caring for patients.
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
