Today’s guest is Steve Roach, the President and CEO of Marlborough Hospital. Marlborough Hospital is located in Marlborough, Massachusetts and is part of the UMassMemorial Health Care system.
Steve is an alumnus of my program, Health Management and Policy, here at the University of New Hampshire, which makes this an especially enjoyable interview for me. Steve started his career working in the financial side of healthcare delivery, becoming a chief financial officer for a community hospital at only 30, and not long after, the chief executive officer of the same hospital at only 33, making him the youngest hospital CEO in Massachusetts at the time. He developed something of a specialty in working with financially troubled hospitals, helping turn around several non-profit and for-profit facilities. We conclude the podcast with a discussion about leadership, mentorship, and coaching.
Anchor: https://anchor.fm/healthleaderforge/episodes/Steve-Roach--President--CEO--Marlborough-Hospital-egra62
YouTube: https://youtu.be/840CVPazYCA
h
Time Topic
0:01:34 studying Health Management at UNH
0:02:54 beginning a career in finance
0:04:22 first job as an analyst at Brigham and Women's
0:06:34 MBA at Bentley
0:08:35 Emerson Hospital - Director of Strategy and Financial Planning
0:10:04 how hospitals get in trouble; role of boards
0:12:40 advice to early careerists
0:14:14 CFO if Nashoba Valley Medical Center - for-profit turn-around
0:15:24 differences between non-profit and for-profit healthcare - execution and willingness to take risk
0:18:12 becoming a CFO at 30
0:19:20 CEO of Nashoba Valley Medical Center - youngest CEO in the state
0:20:19 advantage of being part of a system for learning
0:21:12 growing quality and financial strength
0:22:55 moving from backstage as CFO to front stage as CEO
0:24:31 recruiting physicians; employed model
0:26:18 selling Nashoba to Steward System; switching systems
0:28:50 becoming CEO of Marlborough Hospital, part of the Umass Memorial System
0:32:23 about Marlborough hospital
0:36:41 relationship with Umass Memorial
0:37:40 the C-Suite team
0:38:54 expansion of quality and risk contracting
0:40:20 what is a risk contract
0:43:02 role of the CMO
0:43:49 a day in the life of the CEO
0:48:24 leadership philosophy - servant leadership
0:49:27 characteristics of a good leader
0:50:37 leadeship lesson learned the hard way
0:51:52 what does he look for when hiring leaders?
0:52:52 the role of organizational culture
0:55:29 mentors, peer mentors, and loneliness at the top
0:58:34 executive coaching vs. mentorship
1:00:21 professional organizatoins and growing a professional network
1:03:31 advice to early careerists looking at healthcare administration
0:02:54 beginning a career in finance
0:04:22 first job as an analyst at Brigham and Women's
0:06:34 MBA at Bentley
0:08:35 Emerson Hospital - Director of Strategy and Financial Planning
0:10:04 how hospitals get in trouble; role of boards
0:12:40 advice to early careerists
0:14:14 CFO if Nashoba Valley Medical Center - for-profit turn-around
0:15:24 differences between non-profit and for-profit healthcare - execution and willingness to take risk
0:18:12 becoming a CFO at 30
0:19:20 CEO of Nashoba Valley Medical Center - youngest CEO in the state
0:20:19 advantage of being part of a system for learning
0:21:12 growing quality and financial strength
0:22:55 moving from backstage as CFO to front stage as CEO
0:24:31 recruiting physicians; employed model
0:26:18 selling Nashoba to Steward System; switching systems
0:28:50 becoming CEO of Marlborough Hospital, part of the Umass Memorial System
0:32:23 about Marlborough hospital
0:36:41 relationship with Umass Memorial
0:37:40 the C-Suite team
0:38:54 expansion of quality and risk contracting
0:40:20 what is a risk contract
0:43:02 role of the CMO
0:43:49 a day in the life of the CEO
0:48:24 leadership philosophy - servant leadership
0:49:27 characteristics of a good leader
0:50:37 leadeship lesson learned the hard way
0:51:52 what does he look for when hiring leaders?
0:52:52 the role of organizational culture
0:55:29 mentors, peer mentors, and loneliness at the top
0:58:34 executive coaching vs. mentorship
1:00:21 professional organizatoins and growing a professional network
1:03:31 advice to early careerists looking at healthcare administration
Links to Topics Discussed
Marlborough Hospital
Health Management and Policy, University of New Hampshire
Brigham and Women's Hospital
Emerson Hospital
Nashoba Valley Hospital
UMASS MEMORIAL HEALTHALLIANCE-CLINTON HOSPITAL
Health Management and Policy, University of New Hampshire
Brigham and Women's Hospital
Emerson Hospital
Nashoba Valley Hospital
UMASS MEMORIAL HEALTHALLIANCE-CLINTON HOSPITAL
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