Selling to the c suite
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Selling to the C-Suite. Concepts. Objectives. Profile: Build a typical profile for each of the C-Suite positions in terms of role and responsibilities Politics: Provide a sense of the politics often seen between the C-Suite, Department Directors and Physicians

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Selling to the c suite

Selling to the C-Suite

Concepts


Objectives

Objectives

  • Profile: Build a typical profile for each of the C-Suite positions in terms of role and responsibilities

  • Politics: Provide a sense of the politics often seen between the C-Suite, Department Directors and Physicians

  • Challenges: Give a realty-check of the obstacles we will have trying to get time with the C-Suite


Selling to the c suite

Section 1: C-Suite Profiles and Politics


Profile

Profile

CEO – Chief Executive Officer

  • Very strategic responsibilities. Community-facing ambassador for the hospital.

  • Little focus on hospital operations or tactics. These they defer to other members of the C-Suite.

  • Though powerful, may not be the person to involve in a supply chain decision.

  • Focus Areas:

    • Fundraising for hospital projects

    • Recruiting of executives and VIP physicians

    • Community relations and goodwill

    • Large insurance and provider contracts

  • Direct Reports: All other C-Suite members. However, they rarely question the recommendations of a competent CFO.


Profile1

Profile

CFO – Chief Financial Officer

  • Very strategic responsibilities. Typically, most powerful C-Suite executive. Other C-suite members often need CFO approval for their initiatives (especially CIO, CNO, CMO and often COO).

  • Has been assuming more responsibilities from COO, CNO.

  • Also, the most over-scheduled C-Suite person. Hard for us to justify a CFO appointment.

  • CFO will typically send supply chain issues to DMM or Clinical Department Directors. Also, CFO has little clinical or quality orientation.

  • You may need a Department Director (CV, Materials) other C-Suite executive to sponsor you for a CFO meeting.

  • Focus Areas:

    • Strategic margin management

    • Revenue cycle management

    • Improving hospital bond ratings

    • Supply Chain – Typically only involved in consulting engagements, GPO issues, etc.

  • Direct Reports: DFPS, DMM, IT, sometimes key Clinical Department Managers


Profile2

Profile

COO – Chief Operating Officer

  • Strategicand tactical responsibilities. Charged with integrating the hospital’s strategic plan with daily operations.

  • COO is more powerful if they manage Clinical Department Directors and/or Materials Management Director.

  • If COO doesn’t manage DMM’s and CDD’s, then COO may have little influence on supply chain decisions.

  • Focus Areas without CDD or DMM reporting:

    • HR, recruiting and hospital morale

    • Compliance

    • Environmental services

    • Often they run P&L

  • Direct reports: Head of HR, Legal, various department directors. COO’s have been ceding responsibilities to CFO.


Profile3

Profile

CNO – Chief Nursing Officer

  • Very tactical position. CNO’s have typically been promoted due to clinical competence. Are not conditioned to think in terms of economic strategy.

  • CNO usually has to get approval from CFO for economic initiatives.

  • Occasionally, certain Clinical Department Directors will report to a CNO. If so, the CNO can be an ally in supply chain decisions.

  • Focus Areas:

    • Quality – Ensures low patient event reporting

    • Staffing – Oversees optimal staffing and avoidance of costly agency nursing labor

    • Throughput – Provides adequate processes for efficient patient throughput.

  • Direct Reports: CCU, ICU, Post-Op. Some CNO’s have Clinical Department Directors.


Profile4

Profile

CMO – Chief Medical Officer

  • A consular position, often does not have significant daily departmental responsibilities .

  • CMO often acts as chief clinical advisor to CEO, CFO and COO.

  • One of their main responsibilities is patient quality and safety. If so, CMO can be an advocate in supply chain decisions.

  • The CMO position has grown in economic stature with the recent CMS rulings around in-hospital events.

  • Focus Areas:

    • Quality and safety – Charged with patient outcomes

    • Hospital-Physician relations

    • Hospital-Provider relations

  • Direct Reports: Usually not a large number. Sits on important hospital committees and is seen as a moral compass for patient care.


Selling to the c suite

Section 2: Challenge of Calling on the C-Suite


Targeting within the c suite

Targeting Within the C-Suite

  • Who: Will depend on hospital.

    • CEO – Usually not involved in supply chain

    • CFO – Ideal target, hard to see

    • COO – Only if DMM or CDD’s report in

    • CNO, CMO – Influencers

    • DMM’s, CDD’s – Normally, must-have allies at a C-Suite meeting

  • How: It’s really tough to get on a CFO or COO’s calendar. Their admins will check with them before scheduling any meeting. We need a compelling reason for a C-Suite meeting.


C suite topics with value

C-Suite: Topics with Value

Revenue Enhancement

ex: Market-Development activities that will drive private-insurance coverage to their hospital.

Strategic Cost Reduction

ex: Models that work for gaining physician agreement to consolidate vendors for key PPI service lines.

Regional Market Information

ex: Latest data showing percent changes in community payor mix as a result of last month’s layoffs at the local manufacturing plant.

National Best Practices

ex: How hospitals are leveraging their acquisitions of physician practices to maximize supply chain savings.

Financial Tools

ex: Techniques CFO’s use to reduce their cost to service debt through innovative methods of improving hospital bond ratings.


C suite topics with value cont d

C-Suite: Topics with Value (cont’d)

What Won’t Work:

  • “We can save 15% on your EP budget.” You will be directed to talk with the DMM or CDD.

  • “Our lead failure rate is the best in the industry.” Unless they have had significant patient safety issues, you will be directed to a CDD.

    Caveat: Most DMM’s and CDD’s don’t want us talking to their bosses. It’s important to first build that Director-level relationship. In many instances, the Director can help you gain entrée to the C-suite.

    Takeaways:

  • Meeting content must have strong strategic value.

  • During first meeting, this value will set the table for a need for a subsequent meeting.


Selling to the c suite

Section 3: For Discussion, “How do we create content that will be compelling to the C-Suite?”


C suite selling

C-SUITE SELLING

Strategic Corporate Sales/ National Accounts Meeting

11/10/10

For SJM Internal Use Only – Do Not Distribute


Objectives1

Objectives

  • Profile: Build a typical profile for each of the C-Suite positions in terms of role and responsibilities

  • Politics: Provide a sense of the politics often seen between the C-Suite, Department Directors and Physicians

  • Challenges: Give a realty-check of the obstacles we will have trying to get time with the C-Suite


Selling to the c suite

Section 1: C-Suite Profiles and Politics


Profile5

Profile

CEO – Chief Executive Officer

  • Very strategic responsibilities. Community-facing ambassador for the hospital.

  • Little focus on hospital operations or tactics. These they defer to other members of the C-Suite.

  • Though powerful, may not be the person to involve in a supply chain decision.

  • Focus Areas:

    • Fundraising for hospital projects

    • Recruiting of executives and VIP physicians

    • Community relations and goodwill

    • Large insurance and provider contracts

  • Direct Reports: All other C-Suite members. However, they rarely question the recommendations of a competent CFO.


Profile6

Profile

CFO – Chief Financial Officer

  • Very strategic responsibilities. Typically, most powerful C-Suite executive. Other C-suite members often need CFO approval for their initiatives (especially CIO, CNO, CMO and often COO).

  • Has been assuming more responsibilities from COO, CNO.

  • Also, the most over-scheduled C-Suite person. Hard for us to justify a CFO appointment.

  • CFO will typically send supply chain issues to DMM or Clinical Department Directors. Also, CFO has little clinical or quality orientation.

  • You may need a Department Director (CV, Materials) other C-Suite executive to sponsor you for a CFO meeting.

  • Focus Areas:

    • Strategic margin management

    • Revenue cycle management

    • Improving hospital bond ratings

    • Supply Chain – Typically only involved in consulting engagements, GPO issues, etc.

  • Direct Reports: DFPS, DMM, IT, sometimes key Clinical Department Managers


Profile7

Profile

COO – Chief Operating Officer

  • Strategicand tactical responsibilities. Charged with integrating the hospital’s strategic plan with daily operations.

  • COO is more powerful if they manage Clinical Department Directors and/or Materials Management Director.

  • If COO doesn’t manage DMM’s and CDD’s, then COO may have little influence on supply chain decisions.

  • Focus Areas without CDD or DMM reporting:

    • HR, recruiting and hospital morale

    • Compliance

    • Environmental services

    • Often they run P&L

  • Direct reports: Head of HR, Legal, various department directors. COO’s have been ceding responsibilities to CFO.


Profile8

Profile

CNO – Chief Nursing Officer

  • Very tactical position. CNO’s have typically been promoted due to clinical competence. Are not conditioned to think in terms of economic strategy.

  • CNO usually has to get approval from CFO for economic initiatives.

  • Occasionally, certain Clinical Department Directors will report to a CNO. If so, the CNO can be an ally in supply chain decisions.

  • Focus Areas:

    • Quality – Ensures low patient event reporting

    • Staffing – Oversees optimal staffing and avoidance of costly agency nursing labor

    • Throughput – Provides adequate processes for efficient patient throughput.

  • Direct Reports: CCU, ICU, Post-Op. Some CNO’s have Clinical Department Directors.


Profile9

Profile

CMO – Chief Medical Officer

  • A consular position, often does not have significant daily departmental responsibilities .

  • CMO often acts as chief clinical advisor to CEO, CFO and COO.

  • One of their main responsibilities is patient quality and safety. If so, CMO can be an advocate in supply chain decisions.

  • The CMO position has grown in economic stature with the recent CMS rulings around in-hospital events.

  • Focus Areas:

    • Quality and safety – Charged with patient outcomes

    • Hospital-Physician relations

    • Hospital-Provider relations

  • Direct Reports: Usually not a large number. Sits on important hospital committees and is seen as a moral compass for patient care.


Selling to the c suite

Section 2: Challenge of Calling on the C-Suite


Targeting within the c suite1

Targeting Within the C-Suite

  • Who: Will depend on hospital.

    • CEO – Usually not involved in supply chain

    • CFO – Ideal target, hard to see

    • COO – Only if DMM or CDD’s report in

    • CNO, CMO – Influencers

    • DMM’s, CDD’s – Normally, must-have allies at a C-Suite meeting

  • How: It’s really tough to get on a CFO or COO’s calendar. Their admins will check with them before scheduling any meeting. We need a compelling reason for a C-Suite meeting.


C suite topics with value1

C-Suite: Topics with Value

Revenue Enhancement

ex: Market-Development activities that will drive private-insurance coverage to their hospital.

Strategic Cost Reduction

ex: Models that work for gaining physician agreement to consolidate vendors for key PPI service lines.

Regional Market Information

ex: Latest data showing percent changes in community payor mix as a result of last month’s layoffs at the local manufacturing plant.

National Best Practices

ex: How hospitals are leveraging their acquisitions of physician practices to maximize supply chain savings.

Financial Tools

ex: Techniques CFO’s use to reduce their cost to service debt through innovative methods of improving hospital bond ratings.


C suite topics with value cont d1

C-Suite: Topics with Value (cont’d)

What Won’t Work:

  • “We can save 15% on your EP budget.” You will be directed to talk with the DMM or CDD.

  • “Our lead failure rate is the best in the industry.” Unless they have had significant patient safety issues, you will be directed to a CDD.

    Caveat: Most DMM’s and CDD’s don’t want us talking to their bosses. It’s important to first build that Director-level relationship. In many instances, the Director can help you gain entrée to the C-suite.

    Takeaways:

  • Meeting content must have strong strategic value.

  • During first meeting, this value will set the table for a need for a subsequent meeting.


Selling to the c suite

Section 3: For Discussion, “How do we create content that will be compelling to the C-Suite?”


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