Kelly Gooch: 5 imperatives to consider when starting a health conversion foundation

1. Broaden your definition of "health" - Foundations need to address what are commonly referred to as social determinants of health, such as education, economic opportunity, and housing
2. Hold your ground - Don't make a lot of commitments early until there is a solid plan and strategy about how to affect health outcomes
3. Think broadly about board membership - Boards of health conversion foundations tend to be legacy board members from the hospital or health system that was acquired
4. Develop strong partnerships in the community — and early - Health conversion foundations don't have the funds and resources to affect sweeping health reform in their communities by themselves
5. Ensure that leadership evolves with the mission - The first CEO who is put in charge of the newly created health conversion foundation is often a hospital administrator or physician

Source: Becker's Hospital Review
Source URL: http://www.beckershospitalreview.com/hospital-transactions-a...