MBA Leaders Breakfast Speaker: Health Care Field Growth Has Unlimited Potential
Speaking to a group of 15 Georgetown University’s McDonough School of Business graduate students on Wednesday, Jan. 26, Advisory Board Company Director, Chief Executive Officer, and Executive Vice President Robert Musselwhite said that expansion and growth in the health care industry will reach exponential levels during the next decade.
During the MBA Leaders Breakfast in Georgetown’s Rafik B. Hariri Building, Musselwhite started his time with a friendly rapport with business students about their respective classes and commutes to campus, and he inquired about much time was invested as a graduate student, but he soon concentrated on the business of health care.
Musselwhite’s Advisory Board Company mainly works with more than 2,800 hospitals and offers professional insight on how health care facilities can improve performance at reduced costs.
“Healthcare is an incredible market to be in right now,” Musselwhite said. “There is a lot going on. I don’t know how many of you have health care interests, but most people believe we are on the verge of one of the largest transformations in health care delivery we’ve ever seen in our lifetime.
“Hospitals are preparing to take patients who would normally go into the emergency rooms and find ways to treat them at lower-cost, care centers,” the Advisory Board Company CEO further explained. “A lot of hospitals will be hiring primary care physicians and setting up clinics where they try to treat patients with high-cost treatments at lower-cost settings. This is a really big shift, and it is quite scary for hospitals. There is a lot of complexity, and a lot of shift and a lot of change which is good for our business.”
Before fielding questions, Musselwhite offered key pieces of advice to the group. He noted that graduate and undergraduate students preparing to enter the job market should be ready for career mobility, must work well with people, and seek areas with large growth environments. He also emphasized that students should understand they cannot control everything during their careers, and they should follow their passions when searching for employment.
“Don’t be afraid to seek out something you love,” said Musselwhite. “If you think something is missing (at a job) and is not there, move. One skill that is important is when you prepare to enter an industry, be prepared to understand that industry.”