A few years ago, I had the pleasure of moderating a panel of distinguished patient-safety experts at a Joint Commission conference in Chicago. During the question-and-answer session, one of the attendees asked me what Modern Healthcare thought was going to happen regarding patient-safety advances in the decade ahead. I jokingly answered that we hoped no advances would be made, that costs would continue to rise and access to care still would be limited, because if all those challenges were met, we would have nothing to write about and would go out of business.
In all seriousness, our editorial mission is to inform and educate our readers with news and information that will help them and their organizations meet those challenges head on, solve them and improve the healthcare-delivery system. And never worry about Modern Healthcare, as well always have something to write aboutlike the current financial crisis gripping the country. The crisis certainly will test the healthcare industrys reputation as recession-proof. Having covered healthcare for 25 years (21 of them at Modern Healthcare), Im confident that the industry ultimately will pass that test.
To inform and educate our readers on how the crisis is affecting healthcare, weve created a new section on our Web site, Modern Healthcare Online at modernhealthcare.com, called Healthcare Finance: From Crisis to Recovery. There we will post our editorial coverage of the financial meltdowns impact on healthcare providers from our weekly flagship magazine and our daily electronic newsletters along with original Web-only stories. In addition, the section will feature stories from other sources, including many of Modern Healthcares sister publications from our parent corporation, Crain Communications. We welcome you to follow coverage of the financial crisis through that section.
Many are speculating that the financial crisis will have a detrimental effect on entrepreneurs, who will have a difficult time accessing capital to finance their new products and services. Our guess is that wont be the case in healthcare, as its one of the few corners of the economy thats growing, making it an attractive destination for venture capitalists.
Today, our sister publication Modern Physician is profiling the winner of its first Physician Entrepreneur of the Year award: Adam Singer, founder, chairman, chief executive officer and chief medical officer of IPC-The Hospitalist Co., North Hollywood, Calif. You can read a brief version of that profile in this issue of Modern Healthcare on p. 40. The full version appears in the Oct. 6 issue of Modern Physician and on Modern Physician Online at modernphysician.com along with a podcast interview with Singer. Singer and executives like him are the reason were still bullish on healthcare as they offer examples of why entrepreneurialism is alive and well in the industry.
And during this crisis, good governance is more important than ever in seeing healthcare organizations through some rough times. In that spirit, nominations are now being accepted for Modern Healthcares 2009 Trustee of the Year competition. The awards, co-sponsored by executive search firm Witt/Kieffer, honor two outstanding trustees for their contributions to healthcare governance, one award for small healthcare organizationsthose with fewer than 250 beds or less than $75 million in annual revenueand another award for larger organizations.
To make a nomination, send Modern Healthcare a letter no longer than five pages detailing the persons background and accomplishments in his or her role as a healthcare trustee. Letters also should include the number of years the trustee has been on the board; the name of the healthcare organizations chief executive officer; the organizations number of staffed beds, if applicable, and 2007 total revenue; as well as contact information. Send letters to Modern Healthcare, Trustee of the Year Awards, c/o David May, assistant managing editor/features, 360 N. Michigan Ave., Chicago, Ill., 60601. The deadline for nominations is Dec. 1. Winners will be announced and profiled in the Feb. 23, 2009 issue of Modern Healthcare.