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How healthcare leaders can enhance their business acumen

How healthcare leaders can enhance their business acumen

by • Company news

Healthcare leaders need to enhance their business acumen if they want to run successful practices without losing sight of the people they’re called to care for.No one enters into healthcare looking forward to dealing with budgets, profit margins, or return on investment. They do it because they want to make a difference. Still, the reality is hard to ignore. Great care depends on great decisions. And many of those decisions require more than just clinical expertise. They require business acumen. This means a balanced mix of financial savvy, strategic thinking, and real-world insight.

But can healthcare leaders do without this skill? Probably not. According to the American College of Healthcare Executives (ACHE), problems with finances ranked second in the list of concerns for hospital CEOs in 2023.

The message couldn’t be clearer. Healthcare leaders need to enhance their business acumen if they want to run successful practices without losing sight of the people they’re called to care for.

 

 

Is Business Acumen Essential for Healthcare?

Short answer? Yes. But let’s look at why.

When we talk about business acumen, we’re really talking about the ability to make smart decisions that keep the door open.

For healthcare leaders, this goes way beyond spreadsheets. It’s about seeing the whole picture: patient needs, team dynamics, financial sustainability, and the entire ecosystem of your healthcare organization.

And yes, this matters. A lot. In fact, the World Economic Forum clearly ranks business acumen as the No.1 skill every people leader needs, with almost 90% of chief people officers saying it is their top priority in the coming months and years.

While this data applies across industries, it’s no less relevant in healthcare. In other words, knowing how the business side works is no longer optional. It’s expected.

To put things in their proper perspective, without business acumen, you might provide great care, but would you be around to provide it next year or the year after?

 

How to Enhance Business Acumen as a Healthcare Leader

So, how can you enhance your business acumen as a healthcare leader? And no, you don’t need a four-year MBA. Here are practical tips that can work in your healthcare system.

Listen to Your Patients

Your patients aren’t just the people you provide with healthcare services; they’re also your customers. And you know the good thing about customers, feedback from them is gold for business development. So, listen to them.

Paying close attention to what your customers are saying helps you spot gaps in your services. Do they complain about access to telehealth? Perhaps some mention how hard it was to get a follow-up appointment. Insights like these help you fix processes, reduce complaints, and improve outcomes.

We saw a good example of this in 2024, when employers reported growing interest in expensive obesity medications, including GLP-1s. Tuning into patients’ conversations will tell you whether to expand your services in this area or not. It’s like using patient engagement to drive business strategy.

 

Take Specialized Courses

While listening to patients will give you insights into the direction your practice can take, alone, it’s not enough. You can take things a step further by considering a structured environment where you can learn the skills to do the business of healthcare better.

The good news? You don’t have to do another four-year course for this. There are accelerated online programs for working healthcare professionals that you can do to enhance your business acumen.

Take MSN-MBA dual degree online programs, for example. These programs teach you how to both oversee clinical operations and establish policies and processes for better patient care results.

What’s more? According to Spring Arbor University Online, programs like these give you two Master’s Degrees in just two years and five months. And you don’t have to quit your job, too.

You can also consider short courses or weekend workshops on healthcare finance for non-financial managers. In this case, the goal is not to become an expert but to ‘speak the language’ so that you know what to look out for when running a healthcare practice.

 

Find Mentors

Finding a mentor is a secret advantage that not many people use. These are people who’ve been where you are now and are where you want to be in the future. Of course, they’ve likely experienced some of the challenges you’re currently facing and are in the best position to tell you what to do.

Experiencing high turnover rates in your clinic? A mentor can tell you how to make them stay.

According to a 2024 study published in the Journal of Healthcare Leadership, healthcare professionals who participate in mentorship programs report increased leadership awareness, better coping with stress, and improved confidence as leaders. The benefits are self-explanatory.

 

Follow Industry News

One final way to stay on top of your business acumen skills is to keep abreast of industry news. Why? Because the world of medicine moves fast.

Take 2025, for example. Probably one of the biggest healthcare industry trends was artificial intelligence (AI). PWC even predicted that it will power the future of medicine, with 77% of healthcare executives making it a top priority investment for the near future.

Now imagine you’re not paying attention to industry news and don’t have this information. You’ll be left behind while others leverage AI tools to make data-backed decisions.

 

Bottom line? Stay on top of things. Even if it’s one solid newsletter, subscribe to it.

 

Building Your Business Acumen in Healthcare

Managing a healthcare facility is tough work. You’ve got to make sure that the numbers add up while at the same time, ensuring that patients get the best possible care. Enhancing your business acumen is one of the most effective ways to make this work. Hopefully, the points discussed in this article have shown you how to do just that.

It’s important to point out that this doesn’t happen overnight. It’s a slow and thoughtful process, but one that pays off at the end. The best way to go about it is to pick one strategy and work on it. Once you start seeing results, you move on to the next.

Your patients, your team, and your healthcare operations will thank you for it.

Business leaders bemoan slow progress on ‘Europe’s Silicon Valley’

Business leaders bemoan slow progress on ‘Europe’s Silicon Valley’

by • Cities, News, Property

The government has positioned the so-called OxCam growth corridor as a central plank of its economic strategy, with Chancellor Rachel Reeves describing it as having the potential to become (inevitably) Europe’s Silicon Valley.Britain’s ambition to turn the Oxford–Cambridge corridor into a globally competitive technology and life sciences hub is facing renewed scrutiny as business leaders warn that delays to infrastructure risk undermining investor confidence, even as ministers restate their commitment to accelerated delivery. The government has positioned the so-called OxCam growth corridor as a central plank of its economic strategy, with Chancellor Rachel Reeves describing it as having the potential to become (inevitably) Europe’s Silicon Valley. The plan centres on better connecting Oxford and Cambridge, stimulating housing delivery and encouraging high-value research, technology and manufacturing to scale across the region. (more…)

Half of firms are still sending unwanted office furniture to landfill

Half of firms are still sending unwanted office furniture to landfill

by • Environment, Furniture, News, Workplace design

Half of UK organisations are still sending unwanted office furniture to landfill despite widespread (and apparently misplaced) confidence in their sustainability credentialsHalf of UK organisations are still sending unwanted office furniture to landfill despite widespread (and apparently misplaced) confidence in their sustainability credentials, according to a new report from Business Moves Group. The findings highlight a significant gap between intent and practice in the way companies manage furniture during office moves, refurbishments and wider workplace change The white paper, Furniture futures: sustainable strategies for better workplaces [registration], is based on a survey of 250 facilities and office management professionals across the UK. (more…)

Networking skills should play a key role in workplace development

Networking skills should play a key role in workplace development

by • Comment, Workplace

Networking is a core skill for everyone, writes Henry Strickland. Embracing it in the workplace can have compelling, far-reaching benefitsIt was recently reported that the art of networking is disappearing from modern workplaces. The skill is particularly lacking among young professionals, with around 60 percent of whom avoiding in-person networking events to the detriment of their careers. I read of this with interest and concern, being a strong believer that both internal and external networking remains one of the single most powerful accelerators for career progression, and that more opportunities come through relationships than any other channel. (more…)

Ninth Workplace Design Conference in Ljubljana to explore positive workplace change

Ninth Workplace Design Conference in Ljubljana to explore positive workplace change

by • Company news, Events, Workplace design

The ninth annual Workplace Design Conference has been confirmed for Thursday, 8 October 2026, with organisers announcing that WDC26 will take place at Ljubljana Castle, one of Slovenia’s most recognisable cultural landmarks. Hosted in the professionally equipped Hribar Hall, high above Ljubljana’s Old Town, the conference will once again bring together an international audience of workplace strategists, business leaders, designers, consultants and solution providers to explore how the design of work environments can support performance, productivity and positive organisational change. (more…)

The role of local businesses in promoting mental health and wellbeing

The role of local businesses in promoting mental health and wellbeing

by • Company news, Wellbeing

Once seen as an individual responsibility, mental health is now recognised as a shared, community wide issue.Across the UK and over recent years, there has a change in how the general public views mental health and wellbeing. Once seen as an individual responsibility, mental health is now recognised as a shared, community wide issue. Our mental health is both our individual and collective responsibility and requires effort from family members, workplaces and organisations. For many, the workplace is where they spend most of their time. For others, local cafés, gyms, hairdressers, or local shops are their daily social spaces. These are the places that people connect, relax, and interact with other people. It’s in these spaces that local businesses have a unique power to influence how people think and feel as well as their mental health. (more…)

Life at the coalface: How the agile workplace first appeared in the mid 20th Century

Life at the coalface: How the agile workplace first appeared in the mid 20th Century

by • Comment, Wellbeing, Workplace design

agile working began in the coal fields of NottinghamshireThe idea of diffusion of innovation has become so embedded in our culture, and most recently so associated with the adoption of new technology, that we might assume it happens in predictable ways. The steps between innovators, early adopters, early majority, late majority, and laggards seem intuitive and certain even when their peaks might be unsure. And yet history teaches us that sometimes new ideas can take years or even decades to take hold, even when they are potentially world-changing and relevant for the era in which they were formulated. (more…)

Global survey points to ongoing yearning for flexible work

Global survey points to ongoing yearning for flexible work

by • Flexible working, News, Workplace

flexible work continuing to show a strong association with how positively people experience their jobEmployee engagement levels remained broadly stable in 2025, according to a new global report from workplace analytics firm WorkL, with flexible work continuing to show a strong association with how positively people experience their job. The Global Workplace Report 2025 is based on survey data from more than 500,000 employees across over 100 countries. It records an average global engagement score of 75 percent, suggesting little overall movement compared with recent years, despite ongoing economic and labour market pressures.

(more…)

UK employers are missing out on AI productivity gains because of gaps in talent strategy

UK employers are missing out on AI productivity gains because of gaps in talent strategy

by • AI, News

A new survey from EY suggests that many UK organisations are failing to realise the full productivity benefits of artificial intelligence (AI) because their talent strategies are not keeping paceA new survey from EY suggests that many UK organisations are failing to realise the full productivity benefits of artificial intelligence (AI) because their talent strategies are not keeping pace with technology adoption. The EY 2025 Work Reimagined Survey, based on responses from 800 UK employees and 180 employers, found that while the use of generative AI at work is now widespread, it is rarely being used in ways that fundamentally change how people work. More than four in five employees said they use GenAI tools, but this is largely limited to routine activities such as searching for information or summarising content. (more…)

Why writing by hand still matters for learning and thinking

Why writing by hand still matters for learning and thinking

by • News, Technology

The steady shift from pens and pencils to keyboards has led many schools to play down writing by hand and other fine motor activities. But a major new review of research suggests that may be a mistakeThe steady shift from pens and pencils to keyboards has led many schools to play down writing by hand and other fine motor activities. But a major new review of research suggests that may be a mistake. The study, published in Educational Research Review, brings together evidence from 118 previous studies involving almost 80,000 children and adolescents. Taken together, it shows a clear and consistent link between children’s fine motor skills and how well they perform at school, across reading, writing, mathematics and broader cognitive measures. In other words, writing may be thinking in both a physical and cognitive sense. (more…)

Neuroinclusive workspace design – addressing the current industry shortfalls

Neuroinclusive workspace design – addressing the current industry shortfalls

by • Comment, Workplace design

There is one area which is emerging as the next critical evolution in workplace strategy: neuroinclusive workplace designIn recent years, there have been significant developments in making workplaces more inclusive and accessible for a diverse range of individuals. However, there is one area which is emerging as the next critical evolution in workplace strategy: neuroinclusive workplace design. Neurodivergent employees often bring unique strengths in areas like innovative problem-solving, meticulous attention to detail, and exceptional pattern recognition, but many workplaces are still failing to adequately accommodate these individuals. (more…)

BCO calls for paradigm shift as regional cities fall behind on sustainable offices

BCO calls for paradigm shift as regional cities fall behind on sustainable offices

by • Environment, News, Property

A widening gap in the availability of highly sustainable offices across the UK is putting the economic prospects of smaller regional cities at risk and could undermine national net-zero goalsA widening gap in the availability of highly sustainable offices across the UK is putting the economic prospects of smaller regional cities at risk and could undermine national net-zero goals, according to new research from the British Council for Offices. The report, Viability and Sustainability in the Regions, warns that a large share of office space outside major centres may become economically obsolete if current trends continue. It suggests this could lead to what it describes as “sustainability gentrification”, with organisations unable to find space that meets their ESG commitments in cities such as Exeter, Newcastle and Sheffield. (more…)

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