Hospital CEOs want to build collaborative partnerships to get ahead

Health system CEOs are looking toward strategic partnerships with competitors and entrepreneurs to compete in the market going forward, according to a new study from UC Denver.

The 2022 Health Systems’ Climate Study interviewed 133 U.S. health system CEOs who collectively represent systems that generate $263 billion in revenue annually.

When asked what was needed most for health systems to grow and get ahead as they recover from the pandemic, the resounding answer was collaboration. 

Eighty-seven percent of CEOs stated that they needed to build diverse yet aligned partnerships to compete in 2022. When asked whether their health system has or is considering strategic partnerships with peer or competing health systems, 70 percent said they were. 

Around 57 percent of CEOs said they have already or are considering entering partnerships with disruptors, and 69 percent said the same for start-ups. 

Implementing a diversity, equity and inclusion policy was also top of mind for growth and 83 percent of CEOs agreed that they needed that strategy to compete. Transforming through digital services and anticipating and responding to policy changes were strategies cited by 82 percent of CEOs.

In terms of threats of competition, health system CEOs are worried about keeping up with current technologies (85 percent), the quality of their services and patient satisfaction (84 percent) and disruptors to the healthcare scene changing the business model (81 percent).

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