Becker's Hospital Review

36 POPULATION HEALTH 36 CEO/STRATEGY "My hardest day had a happy ending. I ended up not having to care for my sick child at all; in reality, he was fine and his pain turned out to be just that he missed his mommy. But the fears I conjured up in my head, the worry only a mother can experience have made me a better provider aer that day. I learned to understand that look in a parent's eye, the look of fear and desperation. I understand it now and I will always make sure I help my patients, their loved ones, and of course ... their mothers." Robert Sehring CEO of OSF HealthCare (Peoria, Ill.) "About 12 years ago, when I served as CEO for OSF HealthPlans, one of our younger and, from all outward appearances, healthiest employees had joined two co-workers for a short walk over lunch. Out on the trail, this young man unexpectedly suffered a massive heart attack. Despite the efforts of the employees with him, the young man did not survive. His death was a devastating blow for his two co-workers who had witnessed his collapse, for his depart- ment and for our entire organization. What I learned in the days, weeks and months that followed was that while sometimes in life there are situations that you can't understand or explain, as a leader you can help individuals and make a difference by just being there and being sensitive and relating through various emotions. This experience reinforced for me the importance of compassion and of working for a faith-based organization that encourages those interactions with co-workers." n Netflix co-founder urges healthcare leaders to develop 'tolerance for risk' By Ayla Ellison N etflix co-founder Marc Randolph and former Cleveland Clinic CEO Toby Cosgrove, MD, shared advice with 1,500 medical profes- sionals and executives Sept. 12 at the Healthcare Analytics Summit in Salt Lake City, according to Deseret News. During the summit, Mr. Randolph shared a story about how he and Netflix co-founder Reed Hastings met with Blockbuster executives several years ago to see if Blockbuster was interested in buying their company. Netflix was a little more than two years old at the time and struggling financially. Mr. Randolph and Mr. Hastings offered to sell Netflix to Blockbuster for $50 million. "The meeting went down- hill very quickly after that," Mr. Randolph said. The deal didn't happen, but Mr. Randolph and Mr. Hastings were determined to help their company suc- ceed. Today, Netflix has more than 130 million paying customers, and Blockbuster has one remaining store in the U.S. Mr. Randolph used the story to illustrate the importance for innovators in all industries, including healthcare, to develop a "tolerance for risk" and to have confidence and optimism. "It was not about having good ideas," Mr. Randolph told attendees. "It was about a system and a culture of trying lots of bad ones. What we realized is that the key to this is not the good idea. It was how quickly and easily and cheaply you could try as many ideas as you could think of." During the summit, Dr. Cosgrove, who is currently an adviser for Google Healthcare & Life Sciences, dis- cussed how Netflix's approach differs from the path taken by most healthcare organizations. He said the lack of innovation at some hospitals and health systems stems from the way physicians are trained. "You're not selected or trained to be innova- tive. You're trained to be repetitive and maintain the status quo," he said. Dr. Cosgrove also shared some advice for health system leaders looking for ways to attract innovative physicians and how big-data collection and the real-world applica- tion of data will play a key role. "I don't think great physicians, or innovative physicians, are going to go to places that don't have data capability," Dr. Cosgrove told attendees. "That's going to become an increasing coin of the realm. I mean, it's a must-have." n LifePoint shareholders approve RCCH merger, reject $120M in payouts for top execs By Ayla Ellison L ifePoint Health shareholders approved a proposed agreement to merge the Brentwood, Tenn.-based hos- pital operator with RCCH HealthCare Partners, which is owned by Apollo Global Management, according to a filing with the Securities and Exchange Commission. The shareholders approved the merger agreement in a ma- jority vote at a special meeting Oct. 29. LifePoint expects the deal to close in the fourth quarter of 2018. Although shareholders agreed to the merger, they did not affirm a proposed "golden parachute" compensation pack- age that would pay out approximately $120 million to four of LifePoint's top executives after the transaction closes. LifePoint Chairman and CEO Bill Carpenter III would have received $69.7 million under the compensation plan. Mr. Carpenter plans to retire when the transaction closes. The system's President and COO David Dill, who will take over as CEO once Mr. Carpenter steps down, would have received more than $25.3 million. Executive Vice President and CFO Michael Coggin and Executive Vice President and Chief Ad- ministrative Officer John Bumpus could have received $13.4 million and $11.5 million, respectively, under the proposal. Because the vote on the compensation package is advisory, it is nonbinding as long as the LifePoint-RCCH merger is final- ized, according to the SEC filing. n

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