The Boston Chamber of Commerce has a number of programs designed to enhance life in Boston. You can see their calendar of events here. One of their programs is the Women’s Network Breakfasts. The mission of the Women’s Network is to connect women of all career levels, strengthen their professional networks, and engage them in the Greater Boston business community. The Women’s Network has achieved this vision through offering prominent speaker programs, unique receptions and roundtables, and annual awards ceremonies that foster development, spotlight women leaders, and promote the positive impact women have made on the Greater Boston region.
Today, the event was held at the lovely Boston Harbor Hotel. Kate Walsh, the President and CEO of Boston Medical Center, was the keynote speaker. Kate Walsh became the President and CEO of Boston Medical Center (BMC) in March 2010. In this role, Walsh oversees a private, not-for-profit academic medical center that has approximately 4,500 employees, 1,200 physicians, and an annual operating budget of roughly $1.0 billion. Prior to her appointment at BMC, Walsh served as Executive Vice President and Chief Operating Officer of Brigham and Women’s Hospital for five years. Walsh also served as the Chief Operating Officer for Novartis Institutes for Biomedical Research.
Kate Walsh gave us great information about the wonderful things that Boston Medical Center (BMC) is doing in health care reform. BMC has moved more patients to coverage than all other hospitals in Massachusetts combined. They serve 150,000 low-income patients annually. The BMC HealthNet Plan is the largest insurer of care to Medicaid and Commonwealth Care with 280,000 statewide members.
In the last 4-5 years, health care reform has significantly financially impacted BMC. Since 2008, BMC took a disproportionate share of Medicaid cuts. They are currently being paid lower rates than in 2001. Despite this, BMC has made changes, and the hospital’s finances have stabilized and are actually positive.
From a personal standpoint, Ms. Walsh has had many life lessons that she imparted to the group. First, it’s important to take risks. Finding mentors is very important. Most of all, you have to love what you do, be authentic, and have fun.
Kate Walsh talks to MedTech Boston about corporate wellness, healthcare leadership, and communication.
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