Issue link: https://beckershealthcare.uberflip.com/i/1511501
22 WOMEN'S LEADERSHIP CVS' Karen Lynch wants value-based, not 'volume-based,' care By Alexis Kayser On the evening of Oct. 9, Karen Lynch, CEO of CVS Health, spoke at Fortune's Most Powerful Women Summit. e publication recently named Ms. Lynch the most powerful woman in business for the third consecutive year. Over the past year, her company — the largest to ever be run by a woman — grew even larger, acquiring home healthcare company Signify Health for $8 billion and primary care provider Oak Street Health for $10.6 billion. During her opening remarks at Fortune's summit, Ms. Lynch discussed the method behind the hodgepodge of entities that now make up CVS Health: drug stores, insurance, home health and primary care. "Our vision and our strategy is really about building connections in healthcare," Ms. Lynch said. "We are driving at value-based care versus volume-based care. We're driving at consumer connections and personal engagement by using technology so that people can be connected to their healthcare. "And we are driving at community convenience, because healthcare isn't just about going to the doctor, it's about being in the community and having transportation to the doctor. It's about being in the home and having access to healthy nutrition," Ms. Lynch continued. "So essentially, our strategy in a nutshell is connecting all the dots for someone on their healthcare journey. And so we will be in the community, we will be in the home, and we will be digitally connected." Ms. Lynch said such shakeups are necessary if the troubled industry is going to survive: "If we don't have radical change in the healthcare system, we will falter and we will fail." n Female CEOs doubled this decade By Alexis Kayser T he number of female CEOs at leading American companies has more than doubled since 2013, according to a recent report from Crist Kolder Associates. The executive recruiting firm examines the backgrounds and measures turnover of C-suite executives in a portfolio of 674 Fortune 500 and S&P 500 companies, 9.9 percent of which are healthcare organizations. Analysts tracked data from Jan. 1, 1995, through Aug. 15, 2023, to compile 2023's Volatility Report. In 2013, 25 of the sitting CEOs Crist Kolder analyzed were female. In 2023, 60 of the 682 sitting CEOs were women. The gap is still prominent, and not all industries are closing it at the same rate. Consumer and service industries have added the most female CEOs over the past decade. Healthcare has added the fewest of any industry — there was one female healthcare CEO in 2013, and there are five in 2023. Significantly more women hold the CFO role, per Crist Kolder, and the percentage of female CFOs has grown faster than the percentage of female CEOs. More than 18 percent of CFOs analyzed were women — nearly 10 percentage points greater than the representation of female CEOs. n Image Credit: The Brand Hopper