Healthcare Financial Recovery Driven by Focus on People First with James Hereford Fairview Health Services TRANSCRIPT

Empowered Patient Podcast

James Hereford, President and CEO of Fairview Health Services, describes this Minnesota-based healthcare system's $600 million turnaround and the importance of focusing on people and processes, not just technology changes. Addressing staff shortages, quality of care, and patient experience led to finding a holistic approach that improved financial outcomes and changed the culture in a sustainable way. Investments have been made in community programs like food access and vaccination events, recognizing the impact of social determinants of health on patient outcomes.

James explains, "When doing this, we have to think about sustainability, and there are things that you can do, like mass layoffs, that can change the short-term economics of an organization. They're just not sustainable. The work hasn't gone away. You haven't changed the nature of work, and we really tried to focus on the people in the process side of this and really make our focus on our processes."

"The other problem with thinking only about the financial turnaround and the direct cost drivers is that it's not the only measure of success for a healthcare organization. It's also about the quality and safety of the care we provide. It's about the experience we provide for our patients, and it's about the culture and the environment in which our caregivers and others provide that care. And so we had to be thinking more holistically about the nature of the turnaround and what we had to do to achieve all of those outcomes."

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