Good corporate governance is IMPORTANT for the growth, development and success of every organisation. Currently in Nigeria, according to the 2017-2020 Economic Recovery & Growth Plan, most healthcare organisations exhibit poor performance due to inadequate and inequitable access, insufficient financing, weak supply chain management, limited human resource capacities and insufficient coordination, cohesion and accountability.
Hence, during an highly informative and interactive webinar to tackle these issues, some of the key points and solutions discussed include;
– Exploring the existence of Medical Credit Fund, accessing other funds and support available for SMEs (Small to Medium-sized Enterprise).
– Availability of Public (structure) – Private (process, people, clear vision) Partnership to expand and invest into healthcare.
– Story telling and sharing successes of corporate governance is important to encourage and teach others in the field.
– Knowledge and information should translate into action and implementation always.
– The small microprocesses of the (healthcare) business such as keeping books and other minute details of activities should be paid attention to.
– Instead of the normal SWAT analysis (Strengths-Weaknesses-Opportunities-Threats) for businesses, do the SWAC! Where C – Challenge replaces T – Threats, which you overcome to become better.
– In your field, FIND YOUR NICHE and OWN IT! Know everything about it and be 2 steps ahead.
– Read about your economy, also learn from other economies and industries. This gives you a broadened understanding into the different approach of health economies in the world.
– Do “positive disruptive thinking” on your feet always! Think innovatively – innovation is the name of the game.
– Get the right talent on your team and harness the benefits of a diverse board with relevant skill sets to achieve your organisational vision.
– Get rid of “silo thinking and blinders”, seek and embrace “Angel investors and Venture builders”.
– Ensure good leadership, which is good governance and management.
Conclusively; key factors needed for healthcare businesses and organisations to thrive are good leadership, management, corporate governance and patient-centered care.
Editor’s note:
This article is an extract from a webinar hosted by Peter Bamkole (Director, Enterprise Development Centre) with Njide Ndili (Country Director, Pharmaccess Foundation), Abimbola Adebakin (CEO, Advantage Health Africa) and Clare Omatseye (MD/CEO at JNC International (JNCI)) on Tuesday, 21st July 2020.
