Issue link: https://beckershealthcare.uberflip.com/i/1499344
66 HEALTHCARE NEWS 66 'Health system' is out; here's what comes next By Laura Dyrda H ospitals evolved into health systems over the last several years with multiple care sites and expanded focus on health and wellness. Millions of dollars were spent in rebranding and strategy to become "health systems." Now, the term is becoming obsolete. Health systems are so much more than care providers, with ancillary businesses such as retail pharmacy, venture capital investing, telehealth, hospital-at-home, and more. e best new term to describe evolving health systems hasn't been universally defined, but a few organizations have begun internally rebranding. Stony Brook (N.Y.) Medicine's growth strategy isn't focused on more inpatient services, or even expanding its 240 community- based physician clinics. Instead, the organization is zeroing in on at-home services, urgent and immediate care, and triaging patients appropriately. Stony Brook also includes five growing life sciences schools. "We've stopped calling ourselves a health system and started calling ourselves a health platform because we've got to have partnerships to make this happen," said Liz Popwell, chief strategy and transformation officer at Stony Brook Medicine, during an April 3 panel at the Becker's 13th Annual Meeting. "We know we're not experts in all spaces, but we need to find the right experts to partner with." She said patients were willing to travel for care before the pandemic, but now they're looking for more convenient access and extended telemedicine and remote patient monitoring options. e focus on at- home care models means Stony Brook is growing "around the fringes of the platform," according to Ms. Popwell. e forward-looking strategy extends to the system's medical and life sciences schools training future clinicians and scientists. Many graduates want to stay local, Ms. Popwell said, which is good news for the organization. "We're not thinking about what's the care model of today," she said. "We're thinking about what's the care model 10 years from now and throughout our strategic planning process, we're going to start to implement different curriculum items related to artificial intelligence, machine learning, you name it. We're thinking about what [healthcare will] look like down the road so we can prepare the workforce for the future." John Couris, president and CEO of Tampa General Hospital and Florida Health Sciences Center at the University of Southern Florida, said he doesn't think about the organization as a health system either. "We look at ourselves as a family of businesses," he said. "We are more of a conglomerate in a good way. It's the notion of having all sorts of joint ventures and wholly owned subsidiaries, and of course our mothership. But it's really a family of businesses to address the healthcare challenges." Tampa General and Florida Health Sciences Center is a collaboration with the University of South Florida its health services division. e organization has a large academic medical center and more than 130 locations, and deep relationships with a few great partners. n HCA's 5 highest- earning executives By Alexis Kayser In 2022, one of HCA Healthcare's highest-earning executives was also its newest. Nashville, Tenn.-based HCA Healthcare is one of the largest health systems in the United States, operating 184 hospitals across 21 states and the United Kingdom. In 2022, the for-profit system posted $5.64 billion in net profit on $60.23 billion in revenue — dipping from $6.96 billion in income on $58.8 billion in revenue the year prior. HCA executives' pay packages were determined using a sample group of large public healthcare companies — including Anthem, Centene, Eli Lilly and Pfizer — according to a proxy statement filed March 10. To determine the competitiveness of compensation for Michael McAlevey, who joined HCA as chief legal officer in early 2022, business management consulting firm Semler Brossy collected and reviewed data from the Willis Towers Watson Executive Compensation Database and Radford Global Compensation Database. HCA's compensation committee also considered factors unique to each individual — including projected responsibilities for the coming year, projected or actual impact on successful strategy execution, and experience — to determine each executive's pay, including Mr. McAlevey's. Aside from Mr. McAlevey, who did not join the team until 2022, every named executive took a pay cut from 2021. The following figures reflect their total compensation, including salary, bonus, stock awards and other benefits: 1. Samuel Hazen, CEO: 2021: $20.6 million 2022: $14.6 million 2. Michael McAlevey, senior vice president and chief legal officer: 2021: No data available 2022: $6.5 million 3. William Rutherford, executive vice president and CFO: 2021: $7.2 million 2022: $5.1 million 4. Charles Hall, president of national group: 2021: $5.6 million 2022: $5 million 5. Jon Foster, president of American group:* 2021: $6 million 2022: $4.1 million *Mr. Foster was promoted to executive vice president and COO of HCA Healthcare, effective Jan. 1, 2023. n