Healthcare boards during the COVID-19 pandemic have been tasked with providing support and guidance to organizations that are facing financial and workforce challenges. In 2021, the board's role will continue to expand in ensuring organizational success through attraction and retention of the workforce, and boards will be involved in the reassessment of business and talent management strategies at hospitals and health systems, according to compensation consulting firm Pearl Meyer.
The firm said in a new article that these five areas will be a focus for healthcare boards in 2021:
- Engagement, retention, and mental health of healthcare workers
- Business strategy, alignment of compensation, and financial recovery and transformation
- Goal-setting for payers
- The need to more actively manage risk
- A focus on the post-pandemic renewal of the strategic board