Monthly Archives: May 2018

Healthcare Executive Leadership

Healthcare executive leadership has gone global. As a result, a growing number of opportunities are becoming available for individuals whose career planning efforts have prepared them for the extraordinary challenges and the long-term rewards that an international assignment offers. However, the expectations are high when it comes to making Healthcare executive leadership placements into a foreign market, and a prospective executive must be fully prepared to meet those challenges head-on.

“Well done is better than well said!” is a quote from the New England Patriots’ Tom Brady (and Ben Franklin) and it summarizes the mindset of global investors and global operators as they recruit individuals to lead foreign or multinational business entities. In other words, a successful track record delivering superior financial and operational results will help your achieve your international leadership goals far better than merely words and potential. This is why personal global career planning pays off in the long-run.

We recently helped sponsor the “2007 Strategic Investing in Healthcare Forum.” This was an invitation only, one-day conference that brought together members of the Harvard Business School and the Argyle Executive Forum, plus 150 senior operating executives from public and private Healthcare firms, select private equity and hedge funds, prominent research fellows, and key senior advisors. And, as a result of these discussions, I now find myself thinking about ways that up-and-coming Healthcare executives can best prepare themselves to achieve their global career planning ambitions.

I should mention that over the course of this one day event, Healthcare leaders shared their focus and innovative approaches towards booming global markets, the financially-stretched domestic market, and the global demographic trends that will either clobber economies or empower businesses to solve complex issues. Speakers for the event included representatives from Apax Partners, GE Healthcare, GE Healthcare Financial Services, Bain Capital, Welsh, Carson, Anderson & Stowe, The Blackstone Group, CCMP Capital Advisors, Merrill Lynch, GTCR Golder Rauner, Ropes & Gray LLP, Bank of America, and Epstein Becker & Green, P.C.

All of the speakers were extremely candid and informative. However, here are just two examples of the broad array of globally-focused topics that were discussed:

Buddy Gumina, a Partner at US Healthcare – Apax, discussed coverage, consumerism and convergence as it relates to managed care, healthcare services, provider transparency, interactive technology, preventative medicine and outsourced pharma. Apax has a thirty year track-record as a global private equity firm with a strong healthcare presence.

Joe Hogan, President and CEO of GE Healthcare, stated that the company’s basis for growth and the focus of its global-leading $17 billion business is to continue to drive innovation and world-class dominance across IT and diagnostics. The breadth of opportunities for GE Healthcare is tremendous as a result of the exploding second and third world markets where infrastructure and utilization are the focus for the design and development of full-scale digital hospitals.

Other speakers focused on the current strategies that healthcare investors and operators are pursuing as providers, payers, investors, patients and technology converge. And, through this convergence, I am fortunate to play an active role in finding the outstanding Healthcare executive leadership talent that international Healthcare organizations will require to achieve their aggressive business goals.

As a result of my ongoing involvement in the Healthcare leadership arena, I have three career planning suggestions that aspiring international executives would be wise to adopt as they strive to develop the knowledge and skills to lead a global Healthcare business.

  1. Use Coaches and Mentors. Tiger Woods has used multiple coaches over the years to help improve his game. Similarly, you need to identify two or three senior individuals who are interested in taking an active role in your executive leadership development. Whether as coaches or mentors, these individuals can provide you with invaluable insight and global career planning guidance. In addition, you can select your own informal mentors by watching Healthcare executive leaders who are currently successful in the roles you are striving to achieve. Study their successes and their mistakes. In completing more than 225 Healthcare retained searches, those who have achieved the greatest corporate success have aggressively pursued mentoring relationships throughout their career.
  2. Be Seen and Be Known. Financial investors and operators who are deploying tens and hundreds of millions of dollars in new capital are consistently looking to hedge their bets through the recruitment of experienced, well-referenced and well-known executives. Show a keen interest in your industry, in your businesses fundamentals, and in your opportunities and obstacles in order to deliver stellar results and develop relationships with influencers. Through your efforts and success you will find interest from those within your industry to invite you to speak, present or join an industry panel on key issues and trends. The value of your business success can lead you to exceptional personal contacts, which in turn can significantly improve future business opportunities. Your business acumen and success can take you to the door of a global Healthcare executive leadership opportunity. Having strong industry relationships can be what actually opens that door and allows you to enter.
  3. Do your Best Work Today. Without a doubt, ambition is required for the level of success you desire. However, focusing too early on your next opportunity can cause you to lose sight of your current business goals and responsibilities. This can negatively impact your trajectory. Outstanding performance is recognized and should always be your primary objective.

Establishing yourself as the winning executive for a global Healthcare executive leadership opportunity requires strong foundational skills, a successful track-record, solid relationships, keen industry insights, and much more. Global career planning presents new opportunities. Therefore, keep pushing yourself forward in your professional growth and remember, “Well done is better than well said.”

Paul Frankenberg is President, CEO, and Principal in Kraft Search Associates, a retained Executive Search Firm specializing in the recruitment of high-value Executive Leadership throughout the Healthcare Industry. Paul has completed more than 225 Senior Executive and Corporate search assignments during his 12-year career and is known for search process thoroughness, commitment to project success, focus on client business plan achievement and candidate retention rates that are among the highest in the industry. In 2007 Modern Healthcare magazine ranked Kraft Search Associates one of the nation’s Top 25 Healthcare Executive Search Firms. Paul is a frequent writer, guest speaker and panelist on leadership, executive development, entrepreneurship and recruiting industry topics.

Healthcare Industry is Growing

The healthcare industry is continuing to create jobs despite the global economic downturn. Medical training will be an utter necessity in order to provide services to the increasing geriatric population. Unemployment rates have been going up in most other sectors like retail and construction. Job cuts and recession are the biggest concern in everybody’s mind today. Healthcare schools have seen to contribute for thousands of medical industry jobs every month.

Healthcare training in pediatrics and obstetrics have high hospital demands to cater. There is a distinct upward trend in job creation with the medical and health care industry worldwide. Healthcare schools are set to thrive with the sustained increase in national healthcare spending. Medical schools play a key role in providing the skilled professionals in order to handle the aging baby boomer population. Healthcare industry has added two million jobs in the last eight years. This is considerably higher than most other private sectors. Local medical and social assistance services add to about forty thousand healthcare jobs every month. This is in significant contrast when compared with the considerable private job losses in other industries.

The healthcare industry is known to have a minimum job growth of thirty-forty thousand per month. Government policies aim to increase on the annual spending of healthcare programs. This money works to pay for the services of in-demand medical personnel. Healthcare training programs can increase employment opportunities in the hospital sector. Healthcare training programs assure job readiness with solid scopes for permanent employment. The high risk to public health crisis due to the shortage of healthcare professional is increasing in most regions around the word. Government healthcare programs can be undermined in quality from shortage of trained medical workers. A severe crunch in medical manpower arises from the increasing demand of medical services.

Healthcare schools work to reduce the growing disparity in demand for medical services and the available personnel. Healthcare program graduates will be in high demand over the next several decades. The fastest growing employment category is with geriatrics and nursing. Career growth potential with education from the medical schools is said to double. Healthcare programs that work to train nurses are struggling to meet the increasing demand for qualified professionals. There is a chronic international shortage of four million trained healthcare professionals in the current year. Medical healthcare programs that offer graduate degree in healthcare have the highest job potential for the next five years. Healthcare providers continue to hire, as there is no risk to shrinkage in their end market. Government medical programs for the public are immune to the budget constraint measures. The costs of healthcare services continue to grow higher than the average national income. Major job-reports and labor statistics identify healthcare as a recession proof sector.

Online Degrees in Healthcare

Candidates aspiring to enter the healthcare industry need to go for a degree that kick starts their chosen career or the job position they want to achieve. Today, people not only go for campus degrees in healthcare, but they prefer obtaining online degrees as well. Online degrees not only save time, but they save people thousands of dollars as well. To become eligible to enter the healthcare industry, the basic education requirement is an online associate’s degree in healthcare. There are a number of online degree programs available to get trained in healthcare education. Most of these healthcare degree programs need candidates to complete 60 credits of coursework from an accredited academic institution.

Popular Universities & Colleges providing Healthcare Degrees Online

Today, candidates can find multiple options for being trained in healthcare. To cater to the increasing demand of professionals in the healthcare industry, more and more colleges and universities are providing accredited online healthcare degrees. Whether you are looking for an associate degree, a bachelor’s degree, master’s degree or a doctoral degree in healthcare, you can get a number of options to obtain your online degree. Given below are some popular universities and colleges that offer healthcare degree programs online.

University of Phoenix
Everest University
Ashford University
Walden University
Kaplan University
Ohio University
Regis University
Grand Canyon University

For most the jobs in the healthcare industry, candidates would require a four year college program. Whether you want to become a physical therapist, a registered nurse, a dentist or a physician, an online bachelor’s degree is necessary to kick start your career in healthcare. Most of these online degree programs need students to complete 160 credits. While being trained online, students will receive education health related topics, business management, strategy planning and public relations. Depending on your healthcare career goals, you can further decide to obtain online masters or doctoral degree in healthcare.

Job Prospects for Online Healthcare Degree Holders

An online healthcare degree can land candidates a number of entry level job positions. An online associate degree can prepare candidates for the following healthcare industry job positions.

Dental Assistant
Medical Assistant
Nursing Aide
Office Manager
Home Health Aide
Veterinary Technician

If you want to advance your career in healthcare even more and earn a higher salary, you and get enrolled in an online healthcare bachelor’s degree and be ready to land the following jobs.

Nursing Home Director
Medical Office Manager
Health Services Administrator
Hospital Administrator
Clinical Services Representative

Job Outlook & Earning

The healthcare industry is expected to add 3 million more jobs for professionals through to the year 2016. Looking at this employment growth rate, it is obvious that the job market for healthcare professionals is quite strong. Though an online associate’s degree in healthcare is the basic requirement, an online bachelor’s degree can help you earn even more. Professionals who land jobs in the healthcare administration can earn an annual salary ranging between $60,000 and $100,000. As you grow in experience and skill, you can look forward to earning even more salary.