The Pathway to the Boardroom: Leadership in Healthcare
The idea of building out a portfolio of interesting Board roles to round out your career is one that most healthcare executives leave way too late to action. Getting to the boardroom isn’t just about ticking the right qualifications, it’s about understanding the intricacies of healthcare and positioning yourself as a leader who can drive change. Whether you’re in a hospital network, a healthcare tech start-up, or a pharmaceutical firm, the journey to the boardroom comes down to experience, insight, and the strategic relationships you build along the way.
Start with the Right Foundation (In your executive career)
Every boardroom needs leaders who are not only technically skilled but also possess the broader vision needed to navigate today’s healthcare challenges. If you’re aiming for a seat at the table, your path should begin with the fundamentals: proven leadership in both clinical and operational roles.
For those in healthcare, this often means:
- Strong commercial expertise: Understanding the market and using financial know-how to foster growth and long-term sustainability is a must in healthcare.
- Corporate governance expertise: Governance isn’t optional. Whether you’re joining an advisory board or stepping into a governance role, you need to be across the regulatory frameworks, risk management, and ethics that come with leading in healthcare.
- Obtain the right qualifications: Qualifications and courses like the AICD, or the equivalent in your region, are encouraged when exploring board opportunities. In many cases they are a prerequisite.
Broaden Your Perspective
Now that you’ve built your foundation (and earned credibility), it’s time to think about the bigger picture. Boardrooms need executives who can think strategically about the future, whether it’s through emerging technologies, evolving patient demographics, or shifting regulations.
- Develop a vision for healthcare innovation: Today’s leaders need to think ahead. Whether it’s AI-powered patient care or integrating telemedicine, your ability to lead the latest trends will set you apart.
- Lead digital transformation: Boards are prioritising executives who understand how technology can both improve care and cut costs with digital transformation (easy to say, hard to do!) being the key.
- Have a voice: Your actions and results will speak for themselves internally, but do not forget the external market. Cultivate your reputation as an industry thought leader via speaking engagements, opinion pieces and the like, but do so judiciously – overkill may have the opposite effect that you are seeking, and your organisation may baulk at too much self-promotion.
Build Relationships with Purpose
In healthcare, networking isn’t about “connecting,” it’s about aligning with people who share your vision for the future of the industry. From speaking at industry conferences to collaborating with tech innovators, the relationships you build today may be your stepping stones to the boardroom tomorrow.
Too many executives get caught up in doing an excellent job and leave it too late to start building these important relationships. Remember, relationship capital builds over time.
- Seek out mentors and advisors: Great mentors can be your champions for potential board opportunities and will guide you through their own experiences as well as the intricacies of board dynamics when you are “learning the ropes.”
- Engage with influencers in healthcare innovation: Thought leaders, tech entrepreneurs, and policy experts will bring fresh insights to your table when the time comes.
Be Ready to Take the Leap
The pathway to the boardroom in healthcare requires experience, perspective, and relationships. But mostly, it requires readiness. As you prepare for your seat at the table, ask yourself:
- What unique value will I bring to the boardroom?
- How can I ensure that my leadership aligns with the future direction of the industry?
- Am I prepared to drive change at a strategic level and be known for this.
The key to developing a great board career really is to start thinking, acting, and building the foundation blocks early. This will provide you with the best opportunity to realise a great portfolio of Board roles when the time comes.
Author
Luke Henningsen
Partner, Search – ANZ
