Can our Board be better? A few considerations
By Mike McBride
The best healthcare boards are dedicated to the success of the organizations and communities they serve, have a sincere hunger to stay up-to-date and informed about industry standards and stay curious about emerging trends. Board members have to be well educated on the issues, well prepared for generative discussions, and be mindful of the interests and concerns of stakeholders. Being a contemporary healthcare board member demands a great deal and, in turn, can provide a rewarding experience.
Boards play a critical role in the long-term success of organizations. In addition to the expected fiduciary responsibilities, healthcare boards are tasked with promoting and embodying the mission and vision of the institution and advocating for its well being while setting aside self-interest. Advocacy includes ongoing education of politicians and civic leaders, fundraising and networking with potential donors, and telling the organization’s “story.” It is imperative that the board builds relationships in the community in order to expand services to meet community needs and partner with other aligned organizations.
The highest functioning boards share similar traits: absolute fiduciary responsibility inclusive of finances, safety, quality and the employee and patient experiences; development, implementation and monitoring of a long-term strategic plan; and establishing leadership goals and monitoring performance compared to the goals. Additionally, most not-for-profit boards are self-perpetuating so a key responsibility for today’s board is selection of new board members. Now more than ever, an important criterion for board member selection should be diversity. In this case, diversity should be considered in the broadest sense.