Healthcare Executive Leadership: Global Career Planning Creates New Opportunities
Posted On April 2, 2021
Executive leadership in the healthcare sector has gone global. As a result, there are a growing number of opportunities available to individuals whose career planning efforts have prepared them for the extraordinary challenges and long-term rewards that an international assignment offers. However, expectations are high when it comes to making healthcare executive leadership placements in a foreign market, and a prospective executive must be fully prepared to meet those challenges head-on.
“Well done is better than well said!” is a quote from Tom Brady (and Ben Franklin) of the New England Patriots and sums up the mindset of global investors and traders as they recruit people to lead foreign or multinational business entities. In other words, a successful track record that delivers superior financial and operational results will help you achieve your international leadership goals far better than mere words and potential. This is why global personal career planning pays off in the long run.
We recently helped sponsor the “Forum for Strategic Investment in Health 2007”. This was an invitation-only one-day conference that brought together members of the Harvard Business School and the Argyle Executive Forum, plus 150 top operating executives from public and private healthcare firms, investment funds and private hedge funds. select, prominent research fellows and senior advisers. And, as a result of these discussions, I now find myself thinking about ways that emerging healthcare executives can better prepare to achieve their global career planning ambitions.
I should mention that over the course of this one-day event, healthcare leaders shared their innovative approach and approaches toward booming global markets, financially stretched domestic market, and global demographic trends that will hit economies or empower companies. companies to solve complex problems. . Speakers at the event included representatives from Apax Partners, GE Healthcare, GE Healthcare Financial Services, Bain Capital, Welsh, Carson, Anderson & Stowe, The Blackstone Group, CCMP Capital Advisors, Merrill Lynch, GTCR Golder Rauner, Ropes & Gray LLP, Bank of America and Epstein Becker & Green, PC
All of the speakers were extremely candid and informative. However, here are just two examples of the wide range of globally focused topics that were discussed:
Buddy Gumina, Partner at US Healthcare – Apax, analyzed coverage, consumerism and convergence when it comes to managed care, healthcare services, provider transparency, interactive technology, preventive medicine and outsourced pharmacy . Apax has a thirty-year history as a global private equity firm with a strong presence in the healthcare sector.
Joe Hogan, President and CEO of GE Healthcare, stated that the company’s growth foundation and the focus of its world-leading $ 17 billion business is to continue to drive innovation and world-class dominance in IT and diagnostics. The breadth of opportunity for GE Healthcare is enormous as a result of the exploding second and third world markets, where infrastructure and utilization are the focus for the design and development of large-scale digital hospitals.
Other speakers focused on current strategies being followed by healthcare investors and operators as providers, payers, investors, patients and technology converge. And, through this convergence, I am fortunate to play an active role in pursuing the outstanding healthcare executive leadership talent that international healthcare organizations will need to achieve their aggressive business goals.
As a result of my continued involvement in the healthcare leadership arena, I have three career planning tips that aspiring international executives should embrace as they strive to develop the knowledge and skills to lead a global healthcare business. medical care.
Use coaches and mentors. Tiger Woods has used various coaches over the years to help improve his game. Similarly, you should identify two or three high-level individuals who are interested in taking an active role in developing your executive leadership. Whether as coaches or mentors, these people can provide you with invaluable information and comprehensive career planning guidance. Additionally, you can select your own informal mentors by observing executive healthcare leaders who are currently successful in the roles you are striving to achieve. Study your successes and your mistakes. By completing more than 225 retained searches in Healthcare, those who have achieved the greatest corporate success have actively sought mentoring relationships throughout their careers.
Be seen and be known. Investors and financial traders who are deploying tens and hundreds of millions of dollars in new capital are constantly looking to hedge their bets by hiring experienced, well-referenced and recognized executives. Take a keen interest in your industry, the fundamentals of your business, and its opportunities and obstacles to delivering stellar results and developing relationships with influencers. Through your efforts and success, you will find the interest of those within your industry to invite you to speak, present, or join an industry panel on key topics and trends. The value of your business success can lead to exceptional personal contacts, which in turn can significantly enhance future business opportunities. Your business acumen and success can lead you to the door of a global healthcare executive leadership opportunity. Having strong relationships with the industry can be what really opens that door and gets you in.
Do your best work today. Sure, ambition is required for the level of success you want. However, focusing too early on your next opportunity can cause you to lose sight of your current business goals and responsibilities. This can negatively affect your track record. Outstanding performance is recognized and should always be your primary goal.
Establishing yourself as the winning executive for a global healthcare executive leadership opportunity requires strong fundamental skills, a successful track record, strong relationships, industry expertise, and much more. Global career planning presents new opportunities. So keep moving forward in your professional growth and remember, “Well done is better than well said.”