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Toby Cosgrove, M.D., Stepping Down As Cleveland Clinic President, CEO

May 1, 2017
by Heather Landi
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After nearly 13 years as president and CEO of Cleveland Clinic, Toby Cosgrove, M.D., announced on Monday that he is stepping down at the end of this year.

Cosgrove announced a staff meeting Monday that he has decided to begin a succession process to transition out of the top executive role later this year, according to a Cleveland Clinic news release.

According to the health system, a succession process for his replacement has now begun and a nominating committee will be formed. The health system’s governance committee has asked Cosgrove to continue on in an advisory role. Cosgrove’s successor will be a practicing physician, in keeping with the organization’s history as a physician-led institution, health system officials said. The new president and CEO will be jointly selected by the board of directors and board of governors, and that process is expected to be concluded in 2017.

“It is an honor and a privilege to be a part of an extraordinary and forward-thinking organization that puts patients at the center of everything we do,” Cosgrove said in a prepared statement. “Cleveland Clinic’s world-class reputation of clinical excellence, innovation, medical education and research was created and will be maintained by the truly dedicated caregivers who work tirelessly to provide the best care to our patients.”

In Cosgrove’s 13-year tenure, the health system has expanded locally, nationally and internationally, with multiple locations in Ohio, Florida, Nevada, Canada, Abu Dhabi, and, in 2020, London, according to a Cleveland Clinic press release. The Cleveland Clinic’s revenues have grown from $3.7 billion in 2004 to $8.5 billion in 2016.

Cleveland Clinic board of directors chairman Bob Rich said in a statement, “The goal of any leader is to leave an institution better than you found it. Without a doubt, Toby has done that. Our world-class reputation has only grown over the past 13 years, as he has led Cleveland Clinic through a period of dramatic growth and worldwide expansion.”

Recently, Cosgrove has received some backlash due to his ties to the Trump administration. Back in December, there was media speculation that Cosgrove, a cardiac surgeon and Vietnam War veteran, was being considered a candidate to head the U.S. Department of Veterans Affairs. The Washington Post had reported that Cosgrove met with Trump back in December to be interviewed for the VA Secretary post. Cosgrove currently serves as an advisor on the White House Strategic and Policy Forum.

Before becoming CEO in 2004, Cosgrove was a cardiac surgeon for nearly 30 years. In the news release, Cleveland Clinic officials said, “As president and CEO, Cosgrove has driven major initiatives that have gained international recognition, created best practices in healthcare, focused on patient outcomes and promoted patient experience.”

Cleveland Clinic has grown steadily between 2004 and 2016: the number of physician-scientists has doubled from 1,800 to 3,400; total visits increased from 2.8 million to 7.1 million; research funding grew from $121 million to $260 million, according to the press release.

According to the health system, Cosgrove’s leadership has emphasized patient care and patient experience, including the re-organization of clinical services into a patient-centered model of care designed around organs and diseases rather than doctors. He hired the first Chief Patient Experience Officer to focus on the experiential, physical and emotional aspects of patient care. In addition, he demonstrated a commitment to new ways to allow patients to access care anytime, anywhere, with walk-in appointments and virtual visits by phone or tablet.

Cosgrove received his medical degree from the University of Virginia School of Medicine in Charlottesville, completing his clinical training at Massachusetts General Hospital, Boston Children’s Hospital, and Brook General Hospital in London. He was a surgeon in the U.S. Air Force and served in Da Nang, Republic of Vietnam, as the Chief of U.S. Air Force Casualty Staging Flight. He was awarded the Bronze Star and the Republic of Vietnam Commendation Medal.

Cosgrove also served on the Veterans Administration Commission on Care during the Obama Administration in 2015.

 

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Rasu Shrestha Leaving UPMC to Join Atrium Health as Chief Strategy Officer

December 18, 2018
by Heather Landi, Associate Editor
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Industry thought leader Rasu Shrestha, M.D., formerly Chief Innovation Officer at the vast 40-hospital University of Pittsburgh Medical Center (UPMC), is leaving Pittsburgh to join Charlotte, North Carolina-based Atrium Health has the new executive vice president and chief strategy officer.

For the past 11 years, Shrestha has held various roles at UPMC, including, most recently, executive vice president and chief innovation officer, responsible for driving UPMC’s innovation strategy. In addition to leading innovation at UPMC, Shrestha also served as executive vice president of UPMC Enterprises, the venture capital arm of UPMC.

According to a press release from Atrium Health, a 40-hospital health system previously named Carolinas HealthCare System, in his new role Shrestha will lead enterprise strategy, including planning and tactical direction for Atrium Health’s strategic roadmap. In addition, he will spearhead a renewed focus on innovation, launching new healthcare inventions, discoveries and ideas to benefit Atrium Health patients and the communities it serves.

Shrestha will officially join Atrium Health in February 2019, reporting directly to President and CEO Eugene Woods. He will take on the position formerly held by Carol Lovin, who was promoted to executive vice president and system chief of staff.

“It is our honor to welcome Dr. Rasu Shrestha into the Atrium Health family,” Atrium Health president and CEO Eugene Woods, said in a statement. “As Atrium Health looks ahead to how we can reimagine a brighter and bolder future for care, Dr. Shrestha will help us develop the strategy and innovation to bring health, hope and healing to more people.” 

A respected thought leader and visionary in the field of healthcare information technology, Shrestha was recognized as one of the “Top 20 Health IT Leaders Driving Change” and as a “Top Healthcare Innovator” by InformationWeek, according to the Atrium Health press release. In addition, he is chairman of the Healthcare Information and Management Systems Society (HIMSS) Innovation Committee, and co-chair of Health Datapalooza.

“I am awestruck by the ambitions of Atrium Health to fulfill their mission to improve health, elevate hope and advance healing – for all,” Shrestha said in a statement. “I look forward to working with this incredibly talented team to forge ahead with meaningful strategies, partnerships and opportunities – and to support this organization’s commitment and dedication to its patients and communities.”

Shrestha announced the move to Atrium Health via Twitter Tuesday afternoon and also posted several comments on LinkedIn. “I find myself in a reflective mood, as I contemplate leaving the many teams I’ve had the honor of making an impact in, the culture that I’ve had the privilege of being able to help craft, and an organization I love, in a city my family and I have called home for the last 11 years since moving here from Southern California. I am humbled with the honor of having worked with some of the most brilliant leaders and doers I have met, and proud of the many accomplishments we have made as a team here at UPMC and across the industry,” Shrestha wrote. “It is this purpose-driven passion that will be a recurring theme, as we continue to cross paths and push ahead through the many challenges and opportunities.”

He remarked that he was drawn to the “human ambitions” of Atrium Health to “improve health, elevate hope and advance healing - for all.”

“What a remarkable place to start my next chapter forward. I know that when we put our hearts and minds together, anything is possible,” he wrote.

Shrestha received his medical degree from CCS University in India, completed his fellowship in informatics from the University of London and earned his MBA from the University of Southern California.

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Early Career Physicians, Pharmacists, Keen on Working in Tech, Survey Finds

December 18, 2018
by Rajiv Leventhal, Managing Editor
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A survey of 502 early career U.S. physicians and pharmacists revealed that 47 percent of these healthcare professionals are interested in working in the technology sector.

A LinkedIn survey, conducted in October, queried 502 physicians and pharmacists in the U.S. who completed their degrees within the last five years. The participants, all of whom have LinkedIn profiles, were chosen at random and reflect different specialties and years of experience.

Thirty percent of respondents said they were “somewhat interested” in working in tech, while 17 percent said they were “very interested.” Another 21 percent said they were “somewhat uninterested,” and 20 percent said they were neutral. Just 11 percent of respondents said they were “very uninterested.”

Participants were also asked to share their views on why they would or wouldn't consider working in the technology sector. Fifty-eight percent of respondents cited substance of the work, 57 percent said total compensation, 50 percent said working hours, and 49 percent said the impact of the work.

Notably, 85 percent of survey respondents said that having peers with their background represented at tech companies could lead to innovation for “traditional” industries.

Another 48 percent of respondents said the technology sector has an allure that makes it difficult for other industries to compete for top talent. Meanwhile, 47 percent said that those who move into tech from a different industry are more interested in “big impact.”

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The Modern Healthcare CIO, CMO, and CTO

December 10, 2018
by Lori Williams, Industry Voice, vice president of fulfillment, Gigster
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Disruption in the healthcare space comes primarily from the expansion of data’s role in the industry, and the healthcare C-suite’s familiarity with that expansion will help drive company and industry success

For the healthcare C-suite executive, the industry has never been more complex—nor has it ever contained so much potential. Emerging technologies mixed with political uncertainty has created an environment where incredible amounts of healthcare data are revolutionizing how patient care is handled, but patients remain uncertain about the future of their own health. With better data and the means to draw insights from it, healthcare CIOs, CMOs and CTOs are in a position to help address patients’ uncertainties and make hospitals and clinics more accessible and effective than ever before.

Here’s a look at how the role of the modern healthcare CIO, CMO and CTO is changing:

The Modern Healthcare CIO
The modern healthcare CIO’s role has evolved to become more innovative. No longer a title reserved strictly for engineers and IT professionals, today’s healthcare CIOs are focused on information science instead of simply setting up network infrastructure or providing back-end support. The trend towards a more data-centric role began as hospitals rolled out electronic health records, equipping individuals with better access to healthcare provider data. Through enterprise data warehousing, CIOs are becoming masters of data management, governance and predictive analytics, and passing along the many benefits of those knowledge bases to patients.

The Modern Healthcare CMO
The confusing healthcare landscape makes the role of a healthcare CMO more necessary than ever before. Thanks to ongoing regulatory changes, uncertainty surrounding the Affordable Care Act, and shifting consumer expectations for on-demand services, healthcare CMOs are responsible for helping patients navigate their way through a complex and opaque industry. As patients continue to assume the role of consumers, carrying out comparison shopping as they would for any other industry, CMOs must be adept in crafting a healthcare provider’s brand and messaging.

At the same time, CMOs must also ensure that healthcare providers offer a modern online experience, ensuring websites are mobile-optimized and social media accounts are generating engagement. This also means CMOs need to help move marketing efforts into the 21st century, transitioning away from direct mail or billboards towards digital marketing and CRM tools. Because if they don’t, there are plenty of med tech startups that will promptly eat into their market share.

The Modern Healthcare CTO
Unlike healthcare CTOs of the past who remained siloed off from the rest of the organization, today’s modern healthcare CTO is fully engaged with healthcare providers and their technology stacks, utilizing new software and hardware to improve daily workflows. The CTO is enabling the transition to patient-oriented self-service operations, enabling patients to carry out administrative tasks like scheduling appointments or refilling prescriptions over the internet. Because medical data is often stored in a variety of different sources, it’s critical for the CTO to be able to keep these systems interoperable with one another. For hospitals riddled with legacy software, CTOs should expect to continue employing middleware solutions to bridge the gap between old and new.

Members of the healthcare industry C-suite have the power to transform lives, and the CIO, CMO and CTO have roles that directly affect a provider’s ability to carry out positive change. With better data from the CTO’s tech stack, the CIO can use better analytics to help providers determine the best solutions for their patients, marketed to consumers by the CMO through modern platforms in clear, easy-to-understand language.

Lori Williams currently serves as Gigster’s vice president of fulfillment. Prior to joining Gigster, Lori was the general manager for Appririo.


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