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In This Issue:
BWH Town Meeting with Dr. Gottlieb
As the current fiscal year comes to a close on September 30, Brigham and Women’s/Faulkner Hospitals (BW/F) will complete another very successful twelve months. This speaks to the exceptional hard work and commitment of our physicians and all of our staff. Both hospitals and the BWPO have aggressively and successfully managed their bottom lines during a time of increasing economic instability.
Reinforcing those values will be key to our leadership over the coming years. “In an era of diminishing government and private sector support for health care, it is essential that we continue to develop and implement innovative approaches to our work and to apply best practices to all areas of the organization,” said Gary L. Gottlieb, MD, MBA, president, BWH. “Our vision, to provide the most outstanding care, pursue and translate extraordinary science and provide exceptional teaching, is supported by several key strategic planning and operational improvement activities. These efforts focus on growth of clinical services in our region and through our partnerships, service excellence, enhanced quality of work life, improved space and infrastructure and on performance management. Each of these programs is tied precisely to our ability to meet our mission and vision in a manner consistent with our organizational values. In order to achieve these objectives, a budget with a strong and sustaining operating margin, is a vital tool.”
With changing demographics and technologies, BW/F must continue to evolve to meet the growing demand for its services. To address the growing need for space around the BWH campus, the hospital has undertaken new lease agreements at One Brigham Circle (the Ledge Site) for medical faculty and administrative purposes and at Harvard Medical School and Children’s Hospital for research. In the short term, this expansion of physical space will create substantial new lease costs in the face of modest growth in revenues. Similarly, increasing health insurance and pension costs in the context of poorer investment returns add to the challenge of profitable financial performance and the availability of funds to invest in our vision. As a result, the BW/F continues to require aggressive cost management in order to achieve a prosperous and stable future.
During these leaner times, the BW/F’s commitment to maintaining and supporting the patient care, research, teaching and community missions remains the driver of its success. BW/F will continue to undertake well considered strategic initiatives and make key investments to promote the organization’s mission.