Becker's Hospital Review

23 WOMEN'S LEADERSHIP 23 CEO / STRATEGY Cleveland Clinic's strategy in 2020 and beyond: 6 takeaways By Ayla Ellison I n his annual State of the Clinic address, Cleveland Clinic President and CEO Tom Mihaljevic, MD, highlighted several key initiatives the 18-hospital system is implementing to improve care for pa- tients, expand its footprint and provide a better experience for clini- cians and other employees. Six things to know: 1. Strategic plan. During his Feb. 26 speech, Dr. Mihaljevic said Cleveland Clinic's strategic plan will focus on the following five goals: • Serving as lifelong partners to patients • Engaging caregivers as members of teams • Embracing digital tools to enhance the patient and caregiver ex- perience • Optimizing resources as stewards of the organization • Doubling the number of patients served 2. Serve more patients. A record 2.4 million patients received care at Cleveland Clinic's facilities in 2019, and those patients accounted for 9.8 million visits. In 2020 and beyond, Cleveland Clinic will serve more patients in more locations, Dr. Mihaljevic said. "Only 1 in 200 Americans receive care at Cleveland Clinic," he said. "Yet we know every person could benefit from the quality of care we provide. ere- fore, it is our ethical obligation to serve as many patients as possible." To achieve this goal, Cleveland Clinic is updating some existing fa- cilities and also building new ones. e system is expanding Fairview Hospital in Cleveland, constructing a cancer center at Cleveland Clin- ic Abu Dhabi, opening Cleveland Clinic London in 2021, building a new neurological institute, expanding the Cole Eye Institute and building a new hospital in Mentor, Ohio. 3. Patient safety. "Becoming the safest place for healthcare is a jour- ney that never ends," Dr. Mihaljevic said. He noted that Cleveland Clinic has improved patient safety in recent years by using safety checklists before procedures, having daily huddles about safety issues, and encouraging caregivers to speak up about safety issues. In 2019, Cleveland Clinic decreased serious safety events during surgery by 46 percent. Between January 2017 and August 2019, the system reduced central-line infections, sepsis mortality and patient falls with injuries. 4. Care for clinicians and other employees. Dr. Mihaljevic said Cleveland Clinic has taken several steps to improve the caregiver ex- perience. A few examples he cited were offering fully paid maternity and parental leave, increasing the system's minimum wage to $15 per hour and making improvements to the system's EHR. "Care for care- givers" will continue to be one of the system's top priorities, he said. 5. Community benefit. Last year, Cleveland Clinic's community benefit reached $1 billion. Dr. Mihalijevic said Cleveland Clinic will continue to support local communities through initiatives to address public health challenges, including vaping and opioid addiction, a community service time off program for employees and an ongoing pledge to hire job seekers from surrounding neighborhoods. 6. Financial performance. Solid financial performance is necessary to achieve the strategic goals Dr. Mihaljevic discussed during his speech. Cleveland Clinic ended 2019 with operating income of $390.2 million on revenues of $10.6 billion. at's compared to 2018, when the sys- tem reported operating income of $266.4 million on revenues of $8.9 billion. "is success allows us to reinvest in our mission, caregivers and communities," Dr. Mihaljevic said. n Rennova board member resigns, seeks to take over company By Ayla Ellison A n investor and former member of West Palm Beach, Fla.-based Rennova Health's board is negotiating to take over the hospital operator, according to WBIR. Christopher Eric Diamantis was one of four members of Rennova's board of directors before resigning Feb. 26. Over the past year and a half, Mr. Diamantis guaranteed loans and lent Rennova millions for major purchases. He would cancel the $22.3 million Rennova owes him in exchange for a controlling share of the company, according to the report. Seamus Lagan, who serves as Rennova's CEO and CFO and has a controlling interest in the company, said the board supports the deal with Mr. Diamantis. "Although no assurance can be given that such an agreement will be entered into, the board of directors of the company believes it would be in the best interests of the company and its stockholders and has authorized the exchange, subject to final documentation," stated a financial filing cited by WBIR. During the past year, Rennova's hospitals have experi- enced payroll delays and critically low supplies. Renno- va closed its hospital in Jamestown, Tenn., in June. The 85-bed hospital abruptly shut down just one day after its Medicare and Medicaid funding was cut off. Sen. Marsha Blackburn, R-Tenn., sent a letter to Rennova in late January seeking information about the financial situation of its hospitals. In his response, Mr. Lagan said he's working on securing capital for Rennova and its hospitals. He noted that the closure of the hospital in Jamestown created a "significant disruption" to Renno- va's business strategy. n

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