Becker's Hospital Review

26 POPULATION HEALTH 26 CEO / STRATEGY Where were the CEOs before they were CEOs? 5 paths to the top By Georgina Gonzalez K nowing the positions CEOs held before attaining the top title may offer insight on their performance and help aspiring CEOs chart their course to the top. Research from leadership consul- tancy Spencer Stuart, published in December 2021, sheds light on paths to the CEO role. Spencer Stuart analyzed over 1,300 CEO transitions, collected the advice given to more than 100 senior executives eyeing the top position and interviewed successful CEOs. Here are five findings: 1. Over the last 20 years, 85 percent of new S&P 500 CEOs have ascend- ed from four positions: COO, CFO, divisional CEO and leapfrog leaders from below the second layer of management. 2. In the early 2000s, 76 percent of new CEOs were former COOs. That percentage declined to 38 percent in 2020. 3. Thirty-six percent of new CEOs were former divisional CEOs in 2020. 4. CFOs are the third most common stepping stone to CEO, with 9 per- cent of newly appointed CEOs in 2020 being former CFOs. 5. Among the four most common final steppingstone positions be- fore making CEO, leapfrog leaders were more likely to outperform the others, and CFOs generally performed the worst. The divisional CEO was the safest bet against underperformance. n Illinois hospital CEO uncovers potential misappropriation of funds by former executive By Ayla Ellison N ew leadership at Rush Oak Park (Ill.) Hospital identified a potential misappropriation of funds by a former executive, according to fi- nancial documents released Nov. 29, 2021. Chicago-based Rush University System for Health said in its financial report that "an instance of potential misappropriation of funds by a for- mer executive at ROPH has been identified." The health system is inves- tigating the matter with the assistance of external forensic auditors and counsel, according to the financial report. Rush didn't disclose the former executive's name or the amount that was potentially misappropriated. The system said the amount at issue is not expected to be material to the financial condition of Rush. The potential misappropriation was identified by new leadership at the hospital, and an investigation was launched immediately, a Rush spokes- person told the Chicago Tribune. Dino Rumoro, DO, began serving as CEO of Rush Oak Park Hospital in July 2021. He replaced Bruce Elegant, who retired after leading the hos- pital for more than 20 years. n How the pandemic has affected healthcare employment: 7 stats to know By Kelly Gooch H ealthcare employment declined at the onset of the COVID-19 pandemic in early 2020 and remained below expected levels through November 2021, a Kaiser Family Foundation chart collection found. e chart collection, published Dec. 10, 2021, uses the Bureau of Labor Statistics' Current Employ- ment Survey and Job Openings and Labor Turnover Survey data to examine how the pandemic has af- fected healthcare employment. Seven stats from the chart collection: 1. In April 2020, healthcare employment fell by 9.3 percent from the month before as providers canceled elective care and patients avoided services. 2. In May 2020, employment in the industry began to return. However, as of November 2021, healthcare employment was still 2.7 percent below its previous peak in February 2020. 3. By November 2021, employment in outpa- tient care centers and physician offices had nearly recovered, with both components employing more people than they had in February 2020. 4. Hospitals and home healthcare organizations were within 2 percent of their respective pre- pandemic employment levels by November 2021. 5. While some healthcare settings experienced a re- bound in employment, employment in nursing care and elder care facilities has continued to decline. As of November 2021, these facilities employed 15 per- cent and 11.1 percent fewer workers, respectively, compared to February 2020. 6. Outside of hospitals, unemployment for male healthcare workers was 2.9 percent in November 2021, down from 3.5 percent in February 2020. 7. Outside of hospitals, unemployment for female healthcare workers was 3 percent in November 2021, up from 2.3 percent in February 2020. n

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