On October 10th, Randy will serve on the panel “Key Improvements and Biggest Challenges in the Revenue Cycle” at Becker’s Annual Health IT + Revenue Cycle Conference. As part of an ongoing series, Becker’s is talking to healthcare leaders who plan to speak at the conference, which will take place October 9-12, 2019 in Chicago.
To learn more about the conference and Randy’s session, click here.
Question: What is the No. 1 principle you uphold and practice to effectively lead a team?
Randy Farmer: Own your business, no matter what you do or who you serve, you are “the business” to the person that you are interfacing with and they are looking to get value from you…I tell my team members that when they come to work that they should think of themselves as the owner of a store and I ask, “What do you want your clients to say about you and your store.” This helps them to personalize their work and helps them visualize what success looks like with their customers.
Q: What does healthcare need more of? Less of?
RF: Respectfully, I think those healthcare organizations that view themselves as “services providers” and are focused, as a culture, on how their services provide value to their customers are positioning themselves for long-term success and sustainability in the industry. This is more than just a mission statement but a way of working that permeates all units and teams, and is reflected in policies, procedures, supplier contracts, hiring practices, everything…and ultimately redounds to greater employee satisfaction, higher employee retention rates, expanding services and, eventually, more and happier customers. This enables a virtuous cycle of growth and success.
Q: What contributes to better conversations between a health system’s financial and clinical leaders?
RF: Listening…provide leaders with a forum to share their stories so they can describe where they need help to support their business. Your contribution to the conversation should be to help provide possible options for helping to address their business challenges and then facilitating the conversation that leads to actionable next steps that promote progress on those priorities. Sometimes multiple meetings with several different stakeholders within the organization is required but it is definitely worth the time and effort.
What contributes to better conversations between a health system’s financial and clinical leaders?
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.
