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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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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
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.
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.
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
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.
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.