Nearly 6 in 10 U.S. physician leaders aspire to become a CEO one day, according to a McKinsey & Co. survey.
McKinsey surveyed 296 physician leaders across the U.S. in May. Of the 258 leaders who are not CEOs, 58% indicated interest in becoming a CEO. Sixteen percent said they were unsure, and 26% said they do not have that aspiration.
In interviews, several physician CEOs told researchers they did not initially envision the CEO role.
“This suggests the need to identify and nurture high-potential physicians regardless of their stated interest in the CEO role,” according to an Oct. 13 McKinsey article. “For institutions, this means employing a more meritocratic, data-driven approach to identify potential leaders who may be otherwise ‘invisible’ by casting a broader net than traditional methods.”
Today, 15% of CEOs at the nation’s top healthcare organizations are physicians, the article said.
The research investigated emerging trends in physician leadership, including what motivates physicians to pursue a CEO role, the barriers they face and their most influential leadership development experiences.
Four survey findings to know:
1. About half of surveyed physician leaders selected “broader impact on patient care” as a top three motivator for pursuing a leadership role. Other top motivators were “more influence on innovation and transformation in healthcare” and “personal and professional growth.”
2. The surveyed executives reported strong confidence in their business skills, but CEOs not part of the survey told researchers this is often a weak spot.
“One important explanation for this disconnect: The skills and behaviors that may have helped physicians succeed in a prior role may not be sufficient for their next role,” the article said. “To address this gap, physicians should approach their leadership journey with a growth mindset, continuously learning and understanding what is required to succeed at scaling their impact.
3. Barriers for physicians looking to step into a CEO role vary, but the survey said top challenges included skill and experience gaps, perception barriers, training gaps and institutional barriers.
4. The most effective development opportunities are on-the-job training, degree programs, informal mentorship, leadership fellowships, networking and peer coaching.
