Novant Health is launching a separate business division to help develop solutions to some of the industry's biggest issues.
Novant Health Enterprises grew out of conversations starting six months ago about transitioning out of the pandemic and adjusting to a new normal. Executives believe transformational changes in health care will continue, said Dean Swindle, president of the new division. The health system's overall objective is to offer a better patient experience with more value added.
"We really wanted to decide, how do we put something together that we could build off of that and enhance that?" Swindle said. "It's not a different approach. It's not a complete change in strategy. It really is just an additional focus, additional strategic direction by Novant to complement what we've developed ... and to adjust to the future."
Novant will develop the division's framework over the next year, with some existing services moving under the new division.
Angela Yochem, chief transformation and digital officer at Novant, will be chief operating officer and general manager of the enterprises division, in addition to her current role.
“We’ll not only have our finger on the pulse of what is needed to improve care, but we’ll have the ability to foster, create, test and apply those solutions at an unprecedented rate," Yochem said in a news release. She was not available for an interview today.
Swindle said the new division, focused on commercialization, is organized by three sections — using solutions, such as analytics or artificial intelligence, to develop clinical capabilities; diversifying into more non-acute services, such as pharmacy, and expanding Novant's reach outside of the traditional hospital setting; and investing in innovation and incubation, whether internal or third-party ideas.
Having the enterprises function as a separate entity will encourage more flexibility and agility. It also sends the message Novant is looking to do things differently, Swindle said.
"We have a very strong digital team," he said. "Everything seems today to be wrapped around some form of new technology, new digital capability, whether you're talking about clinical care, value-based care or even things as mundane as shared services and revenue cycle (and) supply chain."
Novant wants to pursue partnerships with other health systems, health-care companies or operations outside the industry, Swindle said. He said that is important given the complexity of the work. Novant is looking for collaboration that aligns with its mission and culture. It is also willing to acquire capabilities when it makes sense, he said.
Winston-Salem-based Novant is the Charlotte area's second-largest health-care provider. It employs roughly 14,000 people in this region.
