Two years, 110 episodes, and 3,180 minutes of compelling conversations.
In the middle of the first wave of the greatest crisis of our time, two years ago, Advisory Board launched its premier podcast, Radio Advisory. More than 110 episodes later, we are still releasing episodes that help leaders from across the industry understand and address some of the biggest issues in health care. And trust me, we are just getting started.
I often get asked what my favorite Radio Advisory episode is. There are truly too many to count—and each conversation is fulfilling in so many unique ways. To mark our anniversary, instead of sharing my favorite episode I want to tell you my favorite insights I have learned from my guests in our second year. After all, Radio Advisory is the simplest way to hear directly from some of the best thinkers in health care while learning how to approach today's most pressing challenges (and you can listen in just 30 minutes).
You heard bold statements and big questions directly from industry experts like Liz Fowler, Director of the Center for Medicare and Medicaid Innovation (CMMI), and Aaron Carroll, author, professor, and Indiana University Chief Health Officer. You heard new strategies from CEOs like Barry Ostrowsky, CEO of RWJ Barnabas and Warner Thomas, CEO of Ochsner Health.
And of course, you heard the latest research from the Advisory Board experts you know and love.
After reflecting on another full year of Radio Advisory, I've curated some of my favorite insights and aha moments for you.
My favorite insights from our second year of Radio Advisory
- Many nurses feel broken—but perhaps it's the system of nursing that's broken. We've witnessed the incredible contributions and sacrifices of nurses on the frontlines of this pandemic. I've even compared it to wartime conditions. But here's the thing: soldiers have an end for their tour of duty. The clinical workforce has yet to receive the time and space to physically recover from their efforts and emotionally recover from their moral injury. And the truth is, the end to their tour of duty will not come unless leaders are willing to restructure the role and the career of the nurse.
- The pandemic may have actually reduced the risk that we will see a physician shortage. Let me be clear in recognizing how dire the nursing shortage is, but we are seeing something different with physicians. The truth is, I am not so sure we would ever have seen a true physician shortage, at least not outside of select rural areas. That's because care delivery had to evolve towards a team-based approach to care delivery. And technological advancements reduce the administrative burden of medicine and expand clinician capacity. These things would have happened eventually; the pandemic merely accelerated the transition.
On value-based care
- Many don't believe that value-based care is inevitable—and CMMI intends to change that. Regaining momentum for value-based care requires a clear path forward and it requires cross-industry partners to work together towards a common aim. But for the industry to move towards value, we must acknowledge the elephant in the room: value doesn't mean the same thing for all stakeholders. So long as the industry relies on vague terms and the safety of their existing business model, the ambition of providing "value" will remain an ambition without a clear objective.
On health equity
- If you're really focused on health equity, you must be willing to tear up your mission statement and make advancing equity a true business priority. Poetic statements and newly assigned leaders will never be enough to truly advance equity and address structural racism. Instead, leaders must balance embedding equity into all aspects of their strategy, while simultaneously investing in the biggest equity gaps in their business and in their community.
- Want to address health care's biggest challenges? Collaborate with your competitors. Finding common ground with competitors and cross-industry players, especially ones that health care leaders don't typically work with, is key to progress. This "coopetition" may require a suspension in ego (always a good thing), but it is the single best way to support the broader community and tackle the problems that the health care industry has been working towards for decades.
On digital transformation
- If you're a doctor (or anyone in the industry), digital citizenship matters. In the face of rampant mis and disinformation, health leaders have an extraordinary responsibility to teach the public. We can't just focus saying what's true (although, that's the baseline)—we must be willing to leave the ivory tower and speak in a way that everyday Americans can understand. And we can't limit efforts to what happens during clinical practice. We should use every opportunity to address misinformation, especially online and on social media.
- While many incumbent providers believe that they own the patient relationship, it won't stay that way unless providers start developing the technological solutions that patients want. True digital transformation will require leaders to think beyond digitizing point solutions. Without true transformation, leaders risk further fragmenting the health system and inviting new market entrants to pit their shiny new products against already extremely fragile patient loyalty.
So, after two years of speaking with the brightest minds in health care for over 53 hours of recorded time, I have learned an incredible amount—and for that I am deeply grateful. I am proud to have shared some of Advisory Board's most provocative insights with the world. But what I am most proud of is the ability to give leaders across the industry the space and platform to speak directly to you.
It's been a fun ride so far, and we are just getting started. As we plan our third year, I want to hear from you. What topics would you like to see us cover? What questions to you have? And what guests would you like for me to interview?