Your Executive CareerYour Executive Careerand the Marketplace:and the Marketplace:

What Is Your Potential?What Is Your Potential?HIMSS 2003 San DiegoHIMSS 2003 San Diego

February 10, 2003February 10, 2003

Presented byPresented byBetsy S. Hersher, PresidentBetsy S. Hersher, President

Hersher Associates, Ltd.Hersher Associates, Ltd.3000 Dundee Rd, Suite 3143000 Dundee Rd, Suite 314

Northbrook, IL 60062Northbrook, IL 60062Phone: (847) 272 Phone: (847) 272 -- 40504050

www.www.hersherhersher.com.com

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State of the Healthcare State of the Healthcare MarketplaceMarketplace

Times are turbulentTimes are turbulent–– Rudderless shipRudderless ship–– Lots of changeLots of change–– OpportunitiesOpportunities

Status of IS LeadershipStatus of IS Leadership–– CIOsCIOs–– CMIOsCMIOs–– New RolesNew Roles

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Career ChangesCareer ChangesPlanningPlanningLogicLogicSkillsSkillsVisionVisionSustained deliverySustained deliveryFlexibilityFlexibilityLuckLuckLook for corporate culture changesLook for corporate culture changes

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OpportunitiesOpportunitiesMergers/deMergers/de--mergersmergersPolicy setting / few thought leadersPolicy setting / few thought leadersOutsourcingOutsourcing–– The effect on you and your organizationThe effect on you and your organization

Physician order entry/EPRPhysician order entry/EPRAging IS leadership teamsAging IS leadership teamsSuccession planning/no succession planningSuccession planning/no succession planningCoaching/mentoring Coaching/mentoring –– who has time?who has time?–– Choosing the right coachChoosing the right coach–– Training your coachTraining your coach

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Opportunities (cont’d)Opportunities (cont’d)CIO turnover / whyCIO turnover / whyExecutive changesExecutive changesMoneyMoneyFew ideas from vendorsFew ideas from vendorsOutside forcesOutside forces–– GovernmentGovernment–– LeapFrogLeapFrog

Ability to separate the wheat from the chaffAbility to separate the wheat from the chaffInterfaces with medical devices internally and Interfaces with medical devices internally and externallyexternally

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Effect of:Effect of:

Significant CIO turnoverSignificant CIO turnoverJob searching in this marketJob searching in this market–– Be prepared to relocateBe prepared to relocate–– TravelTravel–– Learn new skillsLearn new skills–– Dual career issuesDual career issues–– Creating your own jobCreating your own job

…On Your Career…On Your Career

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Effect of:Effect of:Who manages new titles in 2 placesWho manages new titles in 2 places–– SecuritySecurity–– PrivacyPrivacy–– EE--HealthHealth–– HIPAAHIPAA–– CMIOCMIO

CEO turnoverCEO turnoverBoard involvementBoard involvementChanging culturesChanging culturesOutsourcing for some means expanded visibility for those Outsourcing for some means expanded visibility for those who remain employees of the enterprise…or notwho remain employees of the enterprise…or not

…On Your Career…On Your Career

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How To Take Advantage of the How To Take Advantage of the Current MarketplaceCurrent Marketplace

Be the first kid on the block to:Be the first kid on the block to:–– VolunteerVolunteer–– Take a riskTake a risk

Stay one step ahead Stay one step ahead (like rehabbing a house, planning on the (like rehabbing a house, planning on the neighborhood to become gentrified)neighborhood to become gentrified)

Present / writePresent / writeDon’t be gone too muchDon’t be gone too muchSignificant Growth to be obtained internallySignificant Growth to be obtained internallyCoachesCoachesEducationEducation

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Successful Career AdvancementSuccessful Career AdvancementWhy / when / howWhy / when / howRealistic view of the marketplaceRealistic view of the marketplaceSkills evaluationSkills evaluation–– What qualifies you?What qualifies you?–– What are you lacking?What are you lacking?

Family supportFamily supportResume reviewResume reviewNetworkingNetworkingWhat do you need in your next job?What do you need in your next job?What is your strategy?What is your strategy?Find the right coaches Find the right coaches –– professional and personalprofessional and personal

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Successful Career Advancement Successful Career Advancement (cont’d)(cont’d)

The current healthcare environment is wide The current healthcare environment is wide open for adventuresome, creative typesopen for adventuresome, creative typesInternal hires are easierInternal hires are easier–– How to winHow to win–– When to say noWhen to say no

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Building a ReputationBuilding a ReputationReputation not easyReputation not easySustained deliverySustained deliveryVisibilityVisibilityComfort being “just there”Comfort being “just there”Viewed as a resourceViewed as a resourceDon’t become an “old boy” but learn from themDon’t become an “old boy” but learn from themBuilding a reputation doesn’t take long Building a reputation doesn’t take long –– but can but can be lost easilybe lost easilyPartnering with vendors and consulting firms Partnering with vendors and consulting firms carefullycarefully

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Realities of a Successful SearchRealities of a Successful Search

TimeTimeKissing frogsKissing frogsFamilyFamilyManagement changesManagement changesLifestyle issuesLifestyle issuesSalary issuesSalary issues

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Healthcare CIO CompensationHealthcare CIO Compensation

Chief Information Officers

02468

1

Compensation

Posi

tions

100,000-120,000121,000-150,000151,000-200,000201,000-250,000251,000-300,000301,000-350,000351,000-400,000401,000-450,000451,000-500,000501,000-550,000

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Physicians in IS CompensationPhysicians in IS Compensation

Physicians in IS

011223

1

Compensation

Posi

tions

100,000-120,000121,000-150,000151,000-200,000201,000-250,000251,000-300,000301,000-350,000351,000-400,000401,000-450,000451,000-500,000501,000-550,000

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IBD’sIBD’s 10 Secrets To Success10 Secrets To SuccessInvestor’s Business Daily has spent years analyzing leaders Investor’s Business Daily has spent years analyzing leaders

and successful people in all walks of life. Most have 10 traits and successful people in all walks of life. Most have 10 traits that, when combined, can turn dreams into realitythat, when combined, can turn dreams into reality

1.1. How you think is everythingHow you think is everything2.2. Decide upon your true dreams and goalsDecide upon your true dreams and goals3.3. Take actionTake action4.4. Never stop learningNever stop learning5.5. Be persistent and work hardBe persistent and work hard6.6. Learn to analyze detailsLearn to analyze details7.7. Focus your time and moneyFocus your time and money8.8. Don’t be afraid to innovate; be differentDon’t be afraid to innovate; be different9.9. Deal and communicate with people effectivelyDeal and communicate with people effectively10.10. Be honest and dependable; take responsibilityBe honest and dependable; take responsibility

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Realistically Assess Your SkillsRealistically Assess Your Skills

StrengthsStrengthsWeaknesses / what you don’t need to learnWeaknesses / what you don’t need to learnWhat you need to learnWhat you need to learnGather ‘trusted’ opinionsGather ‘trusted’ opinionsNeed for a coachNeed for a coach–– SkillsSkills–– LeadershipLeadership

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Executive LeadershipExecutive Leadership

VisionaryVisionaryCreative/risk averseCreative/risk averseIndecisiveIndecisiveSlowSlowSupportiveSupportiveOutsourcers pressuringOutsourcers pressuring

…The Effect On Your Career…The Effect On Your Career

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What is the Status of the What is the Status of the Recruitment Climate?Recruitment Climate?

…Good, But Tough…Good, But ToughLayoffsLayoffsWhere the jobs areWhere the jobs are–– SecuritySecurity–– HIPAAHIPAA–– Clinical systemsClinical systems–– Physicians in ISPhysicians in IS–– Project ManagersProject Managers–– Managing Outsourcing Managing Outsourcing

contractscontracts–– EE--HealthHealth–– WebWeb–– SuccessorsSuccessors

–– Chief Technology OfficersChief Technology Officers–– Interim managementInterim management–– OutsourcingOutsourcing–– ForFor--profit physician groupsprofit physician groups–– PharmaceuticalsPharmaceuticals–– Insurance companiesInsurance companies–– Internal promotionsInternal promotions–– Clinical reClinical re--designdesign–– Regional positionsRegional positions

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So, You Have Decided to Look So, You Have Decided to Look for a New Job…for a New Job…

Or Seek an Internal PromotionOr Seek an Internal Promotion

Be proactiveBe proactiveCompetitive marketCompetitive marketIs this the time to be looking?Is this the time to be looking?Family supportFamily supportMaking yourself indispensableMaking yourself indispensable

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So, You Have Decided to Look So, You Have Decided to Look for a New Job…for a New Job…

Or Seek an Internal Promotion (cont’d)Or Seek an Internal Promotion (cont’d)

Market yourselfMarket yourself–– ResumeResume–– EducationEducation–– AccomplishmentsAccomplishments

Keep skills freshKeep skills fresh–– New healthcare challengesNew healthcare challenges–– LeadershipLeadership–– CommunicationCommunication

VolunteerVolunteer

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Packaging YourselfPackaging Yourself

Don’t change basic valuesDon’t change basic valuesAttitude adjustment is goodAttitude adjustment is goodBe preparedBe preparedEmployers need leaders and producersEmployers need leaders and producers–– Some basic knowledge may carry you throughSome basic knowledge may carry you through

“Wanted: Can Do Attitude”“Wanted: Can Do Attitude”Corporate culturesCorporate cultures–– Don’t reDon’t re--package to fitpackage to fit

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Packaging Yourself (cont’d)Packaging Yourself (cont’d)

DoDo–– NetworkNetwork–– Be creativeBe creative–– Think globallyThink globally–– WorkoutWorkout–– Project positivelyProject positively–– Involve your familyInvolve your family–– Follow up on all leadsFollow up on all leads–– Sustain momentum / stay motivatedSustain momentum / stay motivated–– Remember experts want to helpRemember experts want to help–– Realize that healthcare continues to hire / IT has Realize that healthcare continues to hire / IT has

become strategic resourcebecome strategic resource

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Packaging Yourself (cont’d)Packaging Yourself (cont’d)

Don’tDon’t–– PanicPanic–– “Fudge” on your resume“Fudge” on your resume–– Tell us children’s names and agesTell us children’s names and ages–– Assume a job description will changeAssume a job description will change–– Drop in responsibility / lateral is okay, for a Drop in responsibility / lateral is okay, for a

reasonreason–– Take a huge cut in salaryTake a huge cut in salary–– Accept the first job offer if it doesn’t feel rightAccept the first job offer if it doesn’t feel right

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Look for OpportunitiesLook for Opportunities

Stretch Stretch –– but not too farbut not too farClinicalsClinicals are the number one winnersare the number one winnersHow to get involved / be noticedHow to get involved / be noticed

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How to Win an How to Win an Internal PromotionInternal Promotion

Deserve itDeserve it–– Do your jobDo your job–– Do more than your jobDo more than your job–– Be a team playerBe a team player–– Be a leaderBe a leader–– Great attitudeGreat attitude

In sync with your boss, peers and usersIn sync with your boss, peers and usersRun key projectsRun key projectsBe challenged and challengingBe challenged and challenging

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How to Win an How to Win an Internal Promotion (cont’d)Internal Promotion (cont’d)

Be noticed outside ISBe noticed outside ISHave the desireHave the desireGentle campaigningGentle campaigningHave punched the right ticketsHave punched the right ticketsAsk for the jobAsk for the job

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What is Your Potential?What is Your Potential?

Unlimited if you have read the “tea leaves” Unlimited if you have read the “tea leaves” correctlycorrectlyExecutive supportExecutive supportCreating a strong team so you are free to take on Creating a strong team so you are free to take on other jobs/responsibilitiesother jobs/responsibilitiesBe proactiveBe proactiveBuild on your reputationBuild on your reputationDon’t turn in to a control freakDon’t turn in to a control freak

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What is Your Potential? (cont’d)What is Your Potential? (cont’d)

Potential doesn’t mean that you stretch too Potential doesn’t mean that you stretch too far beyond your comfort level without helpfar beyond your comfort level without helpPotential does not equal “more” Potential does not equal “more” departments to managedepartments to managePotential does mean:Potential does mean:–– Important project leadershipImportant project leadership–– AdAd--hoc committeeshoc committees

Once All Internal Possibilities Once All Internal Possibilities Have Been Exhausted, it’s Time Have Been Exhausted, it’s Time

to Search Externallyto Search Externally

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Evaluate Opportunities CarefullyEvaluate Opportunities Carefully

Be alertBe alertCheck reporting structureCheck reporting structureJump in with two parachutesJump in with two parachutesBackBack--off when appropriateoff when appropriateSerendipitySerendipity–– Age factorAge factor–– Risk factorRisk factor

Only some retiring to play golf / Only some retiring to play golf / CIOsCIOs going going strong strong –– need successors nowneed successors now

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Competitive Resume WritingCompetitive Resume WritingThe Door OpenerThe Door Opener

Marketing document, not ‘same oldMarketing document, not ‘same old--same old’same old’Strong opening statementStrong opening statementTailored cover letterTailored cover letterList accomplishmentsList accomplishments–– Don’t be shyDon’t be shy–– Don’t lieDon’t lie–– Use action wordsUse action words

Some personal information is great Some personal information is great –– some notsome notHow to follow upHow to follow up

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INTERVIEWING:INTERVIEWING:The Most Powerful Opportunity to Make an The Most Powerful Opportunity to Make an

ImpressionImpressionRead the environmentRead the environmentBe honest / use the interview to market your skillsBe honest / use the interview to market your skillsFocus on what you have to offer the enterpriseFocus on what you have to offer the enterpriseAsk / answer questions Ask / answer questions Listen Listen Don’t oversell yourselfDon’t oversell yourselfBe honest / direct / conciseBe honest / direct / conciseBe proactiveBe proactiveCheck for corporate culture matchCheck for corporate culture matchBe sure you understand the positionBe sure you understand the position

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Tales of Tales of Offers & NegotiationsOffers & Negotiations

Kicking Tires

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What Do You Need to Succeed?What Do You Need to Succeed?Leadership supportLeadership supportEnjoy growth and challengesEnjoy growth and challengesDeliver on time and on budgetDeliver on time and on budget–– Keep everyone informedKeep everyone informed–– Manage the vendorsManage the vendors–– Manage the consultantsManage the consultants

Know who your customers are and manage two Know who your customers are and manage two relationshipsrelationshipsFlexibilityFlexibility

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What Do You Need to Succeed?What Do You Need to Succeed?(Cont’d)(Cont’d)

NonNon--territorial behaviorterritorial behaviorManage expectations and prioritiesManage expectations and prioritiesEducate and lead group decision makingEducate and lead group decision makingForge relationships and alliancesForge relationships and alliances–– CustomersCustomers–– VendorsVendors–– Outside resourcesOutside resources

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What Does The Future Hold?What Does The Future Hold?

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Biological Clocks TickingBiological Clocks Ticking

The future of the professionThe future of the profession–– IssuesIssues–– SolutionsSolutions

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Crystal BallCrystal Ball

The future is becoming very clearThe future is becoming very clearWe can only succeed byWe can only succeed by–– Staying flexibleStaying flexible–– Understanding the changing healthcare Understanding the changing healthcare

environmentenvironment–– Keeping our skills up to date and one step Keeping our skills up to date and one step

aheadahead

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FutureFutureHealthcare Delivery Will ChangeHealthcare Delivery Will Change

IS is a strategic cog in that changeIS is a strategic cog in that changeServices leaving the acute setting supported Services leaving the acute setting supported by ISby ISCEOs risk averseCEOs risk averseEE--health/ehealth/e--commerce commerce CIO role continually changing and CIO role continually changing and becoming more strategic every daybecoming more strategic every dayFinancial resources limitedFinancial resources limited

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Employer Expectations Employer Expectations Not always clearNot always clearRight on targetRight on targetLooking for:Looking for:–– Experienced leadersExperienced leaders–– Successful careersSuccessful careers–– Team playersTeam players–– Relationship and change managementRelationship and change management–– Good guidesGood guides–– Corporate culture matchCorporate culture match

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Leadership Skills for the FutureLeadership Skills for the Future

Relationship managementRelationship managementChange managementChange managementAdaptability/ability to deal with dramatic Adaptability/ability to deal with dramatic changechangePartneringPartneringClinical reClinical re--designdesignComplex project managementComplex project managementEntrepreneurialEntrepreneurial

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Leadership Skills for the Future Leadership Skills for the Future (cont’d)(cont’d)

Consensus/coalition buildingConsensus/coalition buildingEnablerEnablerPersonal skills Personal skills Education, persuasion and communicationEducation, persuasion and communicationSales/marketingSales/marketingCreating and leading a shared visionCreating and leading a shared visionGuide technology based business decisionsGuide technology based business decisionsExperience with advanced clinical IS Experience with advanced clinical IS implementationsimplementations

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Leadership Skills for the FutureLeadership Skills for the Future(Cont’d)(Cont’d)

Hire and mentor a strong, innovative Hire and mentor a strong, innovative management teammanagement teamDevelop future leaders internally and Develop future leaders internally and externallyexternally–– Share the spotlight/expose to success, failure Share the spotlight/expose to success, failure

and senior managementand senior management–– R & RR & R

Viewed as a thought leaderViewed as a thought leaderBe decisive and follow throughBe decisive and follow through

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Leadership Skills for the FutureLeadership Skills for the Future(Cont’d)(Cont’d)

Creative utilization of all resourcesCreative utilization of all resourcesBeing more visible/advertise Being more visible/advertise accomplishmentsaccomplishmentsTake risks Take risks Deliver Deliver

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“Watch Out”“Watch Out”Executive changesExecutive changesCulture changesCulture changesPositions diminishedPositions diminishedReporting structure changesReporting structure changesRole dividedRole dividedSomeone brought in over you with similar job titleSomeone brought in over you with similar job titleGone too oftenGone too oftenMerger talks and you are excludedMerger talks and you are excluded

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How is Success MeasuredHow is Success MeasuredA match to corporate culture is top priorityA match to corporate culture is top priorityDo your jobDo your jobDo more than your jobDo more than your jobHire and retain a strong IS teamHire and retain a strong IS teamAsk yourself, are you:Ask yourself, are you:–– Having fun?Having fun?–– Being challenged?Being challenged?–– Growing?Growing?–– Fueling creativity?Fueling creativity?

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Future ConsiderationsFuture Considerations

Plan for and execute creative solutions for Plan for and execute creative solutions for aging populationaging population–– WellnessWellness–– Chronic careChronic care–– Medication historyMedication history

IS strategic link to critical medical dataIS strategic link to critical medical dataInterface from home to physician officesInterface from home to physician officesKnowledgeable Internet surfers (older Knowledgeable Internet surfers (older population)population)

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Future Considerations Future Considerations (cont’d)(cont’d)

CIO becoming “confidant” for the CEOCIO becoming “confidant” for the CEOMore deMore de--mergers to comemergers to comeNew crop of CEOsNew crop of CEOsCIOs CIOs are not are not CTOsCTOsPhysician Physician CIOsCIOs

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What Next?What Next?