New Temple University CEO: To save money, teach staff to be 'cost-conscious champions'

The new CEO of Temple University Health System in Philadelphia wants to give more cost responsibility to physicians and staff, according to The Philadelphia Inquirer.

On Feb. 6, Michael A. Young took over as the health system's CEO. In addition to his expanded duties, he'll remain president and CEO of Temple University Hospital, a safety-net hospital in Philadelphia.

Mr. Young brings to the position experience with the tough financial situations safety-net hospitals face. He has previous experience at Grady Memorial Hospital in Atlanta and Buffalo, N.Y.-based Erie County Medical Center.

When Mr. Young joined Temple in 2018 as the COO of Temple University Hospital, he began trying to ingrain cost consciousness into the culture to save money and improve quality. He told the Inquirer this meant telling physicians and other staff members they were responsible for cost, not the CFO.

"Now we have 5,000 cost-conscious champions, instead of just four or five people," he told the newspaper. "It's an education process of the entire staff. We've gotten tremendous positive momentum doing that."

Read the full article here.

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