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Mission, Values, and Strategic Partnerships in Healthcare

In this episode, Bill Russell, discusses the importance of mission, values, and partnerships in transforming healthcare. Bill highlights the significance of aligning missions and visions when forming partnerships, rather than focusing solely on financial benefits. He announces various exciting initiatives, including a live show, a fundraising partnership with Alex's Lemonade Stand to combat childhood cancer, and a collaborative event called SOAR 2024 with Bloomberg Leaders aimed at advancing women in IT and healthcare IT. The episode emphasizes the value of shared beliefs and complementary business models in successful collaborations.

00:00 Introduction and Sponsors

00:32 Fundraising for Alex's Lemonade Stand

01:15 Live Show Announcement

01:56 Partnership with Bloomberg Leaders

02:44 Mission, Vision, and Values in Partnerships

06:03 Event Details and Encouragement

08:16 Final Thoughts on Partnerships

09:45 Conclusion and Thanks

Transcript

 Today in health, it we're going to talk about mission, values and partnerships. My name is bill Russell. I'm the former CIO for a 16 hospital system. Create or this week health set of channels and events dedicated to transform health care. One connection at a time. We want to thank our show sponsors who are investing in developing the next generation of health leaders. Notable service now. Enterprise health. Parlance certified health and Panda health.

Check them out at this week. health.com/today. Hey, if you're wondering June big month for us, in terms of our partnership with Alex's lemonade stand, we have committed to raising $30,000 in the month of June. And we need your help. So if you get a chance to go to our website, click on the ribbon to give today, this is to combat childhood cancer search for cures, how families with childhood cancer. And we are excited to partner with them and we would love for you to be. Part of that as well.

In fact we are going to be doing some matching, so we're working out those details as we speak. One last thing, share this podcast with a friend or colleague use it as a foundation for daily or weekly discussions. On the topics that are relevant to you in the industry, they can subscribe wherever you listen to podcasts. All right.

A lot of announcements this week at this week, health one is, Hey, we're doing our live show today. If you are available at one o'clock Eastern time, we're going to be doing our first live show. You can experience the. Uh,

That the kinks worked out the kinks with us, so you can In the chat you can put in your questions. We're going to have a ask us anything sec. A section in it. And love to have you be a part of it. You, your teams, anybody. Ask us, whatever you want. Drex is there to talk security.

Sarah's there to talk personal development, executive development. I'm there to talk about. Is there a topic I don't talk about? Feel free to throw us any questions you might have. We would love to have you be a part of our first live show. Our big announcement for the week, even though we're doing our live show is we have partnered with Bloomberg leaders on an event in September in Atlanta, Georgia, September 18th, to the 20th. It's called soar 2024. And it is the premier event dedicated to elevating women to executive excellence. And we are excited to have that partnership and to be a part of working that with them. The conference is, it was started a couple years ago. And it's it's grown it's grown slowly.

Let's. The first time you do anything, it is so challenging to get it off the ground. But Rebecca Woods and the team over there at Bloomberg leaders has put this event together and it has slowly but surely grown, and we want to help to accelerate that we. I, I said in the beginning, we were talking about mission, vision. And values.

One of the things is we started talking Rebecca and I started talking a little while ago. And I would say about. Gosh. Ed Mark's introduced us. And that was a little over little about six or seven months ago. And we started talking about what it would look like and at different points along the way, we were like we don't want to overtake what you're doing. And we don't, there's all those little details that you get into.

But what I found is if you start the conversation with, Hey, what are you trying to accomplish? What's your mission. And I'll tell you what my mission is, and let's see if there's overlap. And so we did that Rebecca and I sat down. And she said, look, I'm trying to build a community. Dedicated to advancing accelerating women in information technology, not specifically healthcare information technology, but information technology. And as a subset of that healthcare information technology. And the principle that they push forward is lift as we rise.

And I love that and they offer a Ray of services designed to champion and empower women. In, in those fields. And I looked at what they're about. I looked at what we're about and they're complimentary missions and that's the first thing. And it helps you to get through all those little gnarly details later, but you say, all right, we have a similar mission.

The second thing we looked at was, vision, what could possibly happen if we come together? Can we do more together, then we could do a part. And could we do something special? For the industry. If we do it together, And as we looked at it, we said, yeah, I think we can't. I think we do. I am part of that is because we have complimentary business models.

Bloomberg leaders does executive development mentoring in events. And at this week health, we do executive development, media and events. And so we had overlapping mission a vision for what we could accomplish together. And we saw the opportunity with our business models to work together.

And so we started having those conversations and as you would imagine, it. You get into those details. And the other document I'd like to put together for any of these things is my belief statement. And we identified six or seven beliefs. We believe that it in healthcare will benefit as more women develop and are promoted to health, it leader roles.

And I have seven of those that I wrote down and I wanted to put those in front of Rebecca so that she could see them. And I wanted to hear from her. What are her beliefs in terms of the industry, in terms of women women developing into leaders, what's holding them back and those kinds of things.

And as we realized, we had a lot of alignment in what our beliefs were. And so we started to put together the framework for what a partnership proposal would look like. And we try not to do too much. We're partnering on this one event, the soar event in Atlanta. And the idea is, we have teams that need to learn how to work together.

We have an opportunity to see what it's like to work with each other. And so we said, look, they have this premiere event. And it's grown slowly. We would like to accelerate that and we believe that with our reach and our media and our relationships, we're going to be able to help them to accelerate this, to be what. It, I believe it already is a premiere event, but even more so with more people attending and being a part of it.

And so we have we are going to do this it's in Midtown, Atlanta. The heart of the arts, if you will. And we're excited to bring our capabilities to bear with this with what Rebecca and Bluebird leaders is doing. And I think it's going to be. An excellent event. And I think. I think it's an event that if you're, if you are listening to this. If there are women in your organization that are, would like to. Have a network of other women to understand what it takes to advance. To the levels in their career that they have, there's going to be great speakers at this event.

It's going to be people who have overcome some things, people who have over we've talked about, the maternity tax who have overcome having kids and come back into the workforce and have been able to thrive. These are very distinct conversations that women have that aren't necessarily. It's something that, that men have to face.

And so it's great to have this network of women that you can have those conversations with, that you could hear from them. You could hear talks and you can have that group of people that you can lean on and learn from. And Atlanta, if you have people in your organization that are. Looking to develop that kind of network.

Maybe you could sponsor them to come to that event September 18th to the 20th in Atlanta. If you are a woman. I would strongly encourage you to take. Yeah, take a look. You can go to this week. health.com/sore. And there's links over there to the Bluebird leaders. Site as well. And if, if you're injured, if this is something you're passionate about as well, and you would like to be a sponsor, you can hit that same page this week.

health.com. Slash sore. We're not going to do the big boosts and the carnival because as I'm not a huge fan of the carnivals. If you sponsor and become a part of the event, you will attend the event just like everybody else. And you will be alongside of them. In some cases, you'll have an opportunity to address the whole group and to a really great opportunity to have your brand associated with just a great event, a great group of women and a great a great cause.

So love to have you there. I told you I was gonna talk about mission, vision, and partnerships. It's interesting to me in healthcare. How many of the partnerships that we end up entering into are financially related? I've found that to be the least beneficial way to enter into a relationship. I get pursued in this role because of what we've done and what we've been able to do. In this industry about partnerships. Weekly. Hey, we should partner, we should do this.

We should do that. And one of the things I've learned to know to do is to take the economics out of it and start with mission. Do we have a common mission? Do we have complimentary business models? Do we have a complimentary values? Does a partnership make sense? Does the partnership compromise my core business at all.

So there are times people ask me, it's Hey, can you do this? And I'm like if I do that, I will break trust with this group of people that are so important to my core business. And even though it represents money, it's not worth pursuing. And so I, again, I, financial is the least, but in healthcare I see it over and over again. Why are you coming together while there's economies of scale?

And we can. Bring cost savings to this, which invariably we never do. And I think it's because we don't pursue the right types of partnerships in healthcare. So as you're looking at partnerships, I highly recommend. Create your belief statements. You believe you can be better together because of X, Y, and Z. Overlapping mission values and see where it takes you. All right.

That's all for today. Don't forget to share this podcast with a friend or colleague. You said as a foundation for mentoring, we want to thank our channel sponsors who are investing in our mission to develop the next generation of health leaders. Notable service now, enterprise health. Parlance certified health. And 📍 Panda health. Check them out at this week.

health.com/today. Thanks for listening. That's all for now.

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