A Forward-Thinking Approach to Financing Capital Equipment
Due to current economic conditions, healthcare executives must find innovative ways to protect the financial health of their institutions.
- Improving Patient Outcomes, Keeping Drug Costs Down
- ACHE Day of Giving Is Thursday
- Workplace Satisfaction Begins With Trust
- Fulfill In-Person Education Requirement for FACHE® at Congress
Improving Patient Outcomes, Keeping Drug Costs Down
The rise in chronic disease has resulted in a huge increase in novel pharmaceutical therapies. About three-quarters of all drugs approved by the U.S. Food and Drug Administration in 2023 were specialty medications, and seven of the top 10 most expensive medications received approval in just the past two years, according to pharmacy finance authority IPD Analytics.
“Cell and gene therapies are very expensive,” says Mohammad “Mo” Kharbat, vice president and chief pharmacy officer for Ascension Health, in the January/February issue of Healthcare Executive. Although these medications bring hope for many, some of them cost more than one million dollars per dose.
As a result, Phil Brummond, president, health system pharmacy consultancy Visante, sees a greater focus on controlling these costs, forging improved patient outcomes with targeted, curative lifelong therapies. Nilesh Desai, chief pharmacy officer, Baptist Health, recommends enlisting patients as advocates in making these novel therapies more affordable and easier to access. “At the end of the day, it’s all about positive outcomes and better quality of life for our patients,” Desai says.
Optimizing relationships with manufacturers, payers and pharmacy benefits managers can help, but care fragmentation and departmental silos can disrupt this coordination. These three industry leaders share creative solutions that will help improve access, drive down costs and ensure comprehensive care in “Improving Patient Outcomes Without Breaking the Bank.”
ACHE Day of Giving Is Thursday
You have the opportunity to advance healthcare leadership excellence by participating in ACHE’s Day of Giving on Thursday, Feb. 13. Chartered on that date in 1933, ACHE will be celebrating 92 years of advancing members and promoting healthcare leadership excellence.
Your donation to The Fund for Healthcare Leadership helps ACHE provide scholarships to members to become leaders in the field. The Fund supports scholarships for ACHE’s dynamic professional development programs, as well as additional educational opportunities presented during the year.
You may be able to double your contribution by checking with your employer to see whether your donation is eligible for a matching gift. Online donations to The Fund can be made on the ACHE website.
Workplace Satisfaction Begins With Trust
Research shows that trust in leadership and organizational support are key for retaining employees and alleviating workforce shortages, say Katherine A. Meese, PhD, and Quint Studer. In their book The Human Margin: Building the Foundations of Trust, the authors explain the science behind the critical conditions that healthcare leaders must establish in the workplace to build and retain employee trust.
“Our goal is to support leaders in using an evidence-based approach to maximizing the human margin,” write Meese and Studer. Among their findings, the authors reveal that employees’ perception of trust and support involve a combination of leadership behaviors and communication. The authors give leaders actions, words and tools to use right now to create, improve and sustain trust in their teams.
The Human Margin delves into the concepts of recognition, communication, fairness and autonomy that are the building blocks to developing trust in the workplace. “Another important element of building trust is creating an environment where everyone can feel that they belong,” write the authors.
Visit The Human Margin: Building the Foundations of Trust to learn more about the book and to read an excerpt.
Fulfill In-Person Education Requirement for FACHE® at Congress
If you are an ACHE Fellow whose credential is set to expire this year, you can fulfill the required minimum of 12 ACHE In-Person Education credits by attending the 2025 Congress on Healthcare Leadership. Congress attendees who register for the CEO & Executive Flex Pass can earn up to 18 ACHE In-Person Education credits. Learn about the various Congress registration options, including advanced registration rates, which end Tuesday, Feb. 25.
Fellows can recertify in three easy steps:
- Earn 36 credits of healthcare-related continuing education or retake and pass the Board of Governors Exam.
- Complete four volunteer activities—two healthcare-related and two community/civic activities.
- Submit your application by the Dec. 31 deadline with the $200 recertification fee.
Learn more about the recertification process by visiting Maintain or Recertify My FACHE. To learn more about the credential, click FACHE.
