Reorienting Health Care and Business Sector Investment Priorities Toward Health and Well-Being Proceedings of a Workshop (2022) / Chapter Skim
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7 Reflections on Leadership Investment Priorities
7 Reflections on Leadership Investment Priorities
Pages 43-54
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From page 43... ...
Group participants were invited to consider the scenario and questions from the perspective of a hypothetical hospital board in Ourlandia (i.e., a local health care leader) or the perspective of a pension fund manager (i.e., a business investment leader)
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From page 44... ...
A large pension fund is also embracing socially responsible investing. With this background in mind, consider the following (from the perspective of a health care leader or a business investment leader)
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From page 45... ...
Some participants emphasized the need to focus on areas that the hospital, as a health care organization, could uniquely address as a leader, and to also motivate the business community and the broader community to address other fundamental issues that are more outside of the health purview. The sense of hypothetical board members, she said, was that "keeping the status quo was not going to be sufficient." In discussing what would be most critical to address, Fox reported that there were strong advocates on the board for housing, transportation, and child care for hospital staff.
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From page 46... ...
Gunderson reported that group members also pondered how the pension might be structured in a way that encouraged potential recipients to stay in Ourlandia, or to postpone retirement if they were physically able. Hospital Board Group 2 Mylynn Tufte, state health officer for North Dakota, summarized the discussions of the second group to consider investing from the perspective of a hospital board.
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From page 47... ...
portfolio expertise, and using social impact bonds. Priorities for investment that were discussed included vocational technical education, early childhood education, safety, social and criminal justice, and natural resources protection.
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From page 48... ...
She suggested that developing enduring economic health in a community like Ourlandia is more challenging than addressing social determinants of health such as housing or transportation in that community. Another participant pointed out that the hypothetical hospital board assembled for the exercise might not represent how board discussions are held in many organizations.
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From page 49... ...
Meadows prompted participants to consider the similarities and differences among what the hospital board groups and the pension fund manager groups reported about their discussions. A participant observed that each group initially stayed within their defined roles and were perhaps constrained by those roles.
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From page 50... ...
Looking forward to Surgeon General Jerome Adams's forthcoming Call to Action on Community Health and Economic Prosperity, Sharfstein anticipated that it will summarize the science supporting the association between economic health and numerous public health concerns. The pathway to achieving better economic health, and thereby, improved public health, is not easy, he continued.
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From page 51... ...
; example of latter is Vickrey-Clarke Groves mechanism for allocating shared resourcesa (Pham) Business Sector • Platforms for socially responsible investing or impact investing (Richter)
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From page 52... ...
David Kindig agreed with Sharfstein's earlier comment that the busi ness investment leader presentation was most interesting to him. It gave him a sense of optimism that, even if health care leadership is slow to change, the new generation of investors from families of wealth seems to be embracing different standards, such as ESG standards investing.
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From page 53... ...
Still, she said she was encouraged that the impact investing portfolios performed better than the market. This suggests, she said, that people might choose to invest in ESG portfolios, even if only for financial reasons and not for social impact rea sons.
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From page 54... ...
In this new knowledge economy, corporate leaders are recognizing that being on "the wrong side of a social issue" can be very commercially damaging to a company. The question, Milstein said, is the extent to which the health sector will participate in and foster the success of this trend by, for example, informing investment choices or tracking the benefits and consequences of impact investments.
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