Knoxville, TN (PRWEB) April 01, 2014
In the not-so-distant past, community hospital trustees could discharge their fiduciary duties by meeting monthly over a meal, listening attentively to a carefully scripted CEO report, approving capital expenditures after asking a handful of questions, and granting privileges for new medical staff members. Now, with the pressures facing community hospitals, the fiduciary responsibilities of today’s trustees demand an increased level of involvement and a higher level of performance.
In the face of healthcare transformation, the traditional definition of “trustee” – as a person that holds or administers property or assets for the benefit of a third party – no longer applies.
Now, the governing body’s role goes beyond asset preservation.
The new PYA white paper, "Integrated Governance: Leading Community Hospitals Through Payment and Delivery System Reform,” is the first in a series of PYA white papers to explore how governance must change to meet new challenges. Later white papers will address leadership for accountable care communities, the reconstituted role of the professional medical staff, and new executive compensation strategies to incentivize quality and efficiency.
This white paper introduces the concept of integrated governance, which is built on knowledge, teamwork, innovation, and dedication. It details how trustees should re-commit and re-tool to lead their hospital and their entire community through the rocky transition from fee-for-service to value-based reimbursement.
According to the white paper’s authors, “in a valued-based system… a broader group of clinicians must be included among leadership roles to deliver high-quality care in an efficient manner.” “Business” must meet “clinical” at the strategy development table and work together to implement and test new strategies.
PYA assis ts hospital leaders, governing bodies, and physicians by facilitating dialogue in the board room, performing governance effectiveness reviews, providing boards with educational opportunities about governance issues, and creating effective board structures.
For more information about PYA’s approach to integrated governance, please contact Jeff Ellis, Marty Brown, or David McMillan at PYA, (800) 270-9629.
About PYA - Ranked by “Modern Healthcare” as the nation’s 10th largest privately held healthcare consulting firm, PYA serves clients in 48 states from offices in Atlanta, Kansas City, Knoxville, Nashville, and Tampa Bay. PYA and its affiliate companies - Realty Trust Group, PYA Waltman Capital, Healthcare Horizons Consulting Group, and PYA Analytics - have more than 270 employees.