Practical M&A: One CIO’s Experience
Practical M&A:One CIO’s Experience
Inspira Health Network
3 Hospitals
100+ locations
3 counties
Southern New Jersey (1100 mile radius)
1000+ Physicians
3 Years Post Merger
2015 Healthcare IT News “Best Large Hospital IT Department”
Inspira Health Network
What did it take?
Identifying the Inventory
Doing Assessments
Standardization
Adopting and Living the Values
Achieving Success
What did it take?
Identifying the InventoryDoing Assessments
Standardization
Adopting and Living the Values
Achieving Success
Identifying the Inventory
TechnologiesEquipment – network, servers, telephony, computers, etc
Applications – management software, end user software
Security – physical, application, service
Services – voice, data and video
Identifying the Inventory
Practices and PoliciesITIL - Access, Incident, Problem, and Change Management
Requests - Capital Equipment, Project, Report, Interface
Security Incidents – definition, how to report and respond
Identifying the Inventory
Budgets and PositionsOperating Budgets
Capital Budgets
Positions and FTEs
Contracted Staff
Outsourced Services
What did it take?
Identifying the Inventory
Doing AssessmentsStandardization
Adopting and Living the Values
Achieving Success
Doing Assessments
TechnologyAge, condition, useful life
Current and historical performance
Customer feedback
Staff feedback
Doing Assessments
Practices and PoliciesHow current are they?
Are they being used?
Are they effective?
Are they required?
Are they still needed?
Doing Assessments
Budgets and PositionsSimilarities and Differences
Positions (titles, job descriptions, salaries)
Compensation
Customer Feedback
Staff Feedback
What did it take?
Identifying the Inventory
Doing Assessments
StandardizationAdopting and Living the Values
Achieving Success
Standardization
TechnologiesReduces the number of vendors
Reduces operating costs
More effective capital purchases
Stronger team with more depth
Standardization
Practices and PoliciesIdentify or adopt best practices
Consistency and efficiency
Create shared expectations
Improves Customer Service Experience
Standardization
Budgets and PositionsConsistency
Efficiency
Satisfying
Benchmarking
What did it take?
Identifying the Inventory
Doing Assessments
Standardization
Adopting and Living the ValuesAchieving Success
Adopting and Living the Values
Service Statistics
Benchmarks
Customer Feedback
Adopting and Living the Values
Quality and Safety Statistics
Benchmarks
Preventive Maintenance
Feedback from our patients and community
Adopting and Living the Values
Growth Common infrastructure – standard and efficient
Templates – allows for speed
Innovation – promotes business growth
Adopting and Living the Values
Financial Efficiency
Optimization
Cost reduction
Revenue generating opportunities
Adopting and Living the Values
PeopleRespect – professional and personal
Relationship – professional and personal
Opportunities – additional or new responsibilities, educational, advancement, for fun
Recognition – individual and team
Trust and Loyalty – the ultimate goal
What did it take?
Identifying the Inventory
Doing Assessments
Standardization
Adopting and Living the Values
Achieving Success
Achieving Success
CreativityInput from the employees
- Contests to generate interest and ideas
- Contests also generate team building
- Stimulates employee engagement
- Stimulates pride of the job done, team, department
Achieving Success
CollaborationPartnering together
- Multidisciplinary work projects
- Employee initiatives (walking breaks, volleyball, etc)
- Fundraising activities and events (helping others in need)
- Focus groups (community feedback and direction)
Achieving Success
ConsistencyAccountability – “Anyone can help”
Address items identified in employee opinion surveys
360 degree feedback and performance evaluations
Open door policy
Common goals
The Year in Review report to the Board
Achieving Success
CelebrateIndividual Recognition
- Non-Monetary recognition (Special parking space, name on plaque / wall, award of excellence, etc)
- Monetary (gift cards, bonus check, etc)
Achieving Success
Celebration Team Recognition
- Public / Industry appreciation (MOST WIRED, BEST HOSPITAL IT DEPARTMENT, etc)
- Celebrate together (luncheon, dinner, fun activity outside of the office, gift certificates, bonuses)
Achieving Success
Practical M&A: One CIO’s Experience