Rishi Hazarika enrolled in the Developing Strategy for Value Creation programme to help him complete the transition from NHS doctor to more senior leadership roles. He is currently in charge of a multimillion-pound project to establish a new children’s hospital.
As a trained surgeon, I don’t have a formal business background. My current role is a new one within my hospital. It is to develop a strategy with the ultimate aim of getting a new children’s hospital up and running by 2020. A lot of my day-to-day work focuses on that goal – looking at how clinical activity could increase, how the market and technology might change, and of course, considering the financial aspects that are involved. This was the only programme I found that delivered really in-depth content specifically focussed on strategy, innovation and the management of resources.
Using strategic frameworks in my industry is a relatively new concept, but it is increasingly important to understand how they can be applied in the healthcare environment. One of the things that the programme looks at in detail is competitor analysis. Other industries have very strong business metrics and find it comparatively easy to establish how their markets are growing, or what their profit margin is to competitors. In healthcare, these sorts of things are much harder to quantify. The programme helped me better assess the value that we are offering to our patients. NHS organisations are unable to compete on price, but we are able to examine the more intangible things like, the culture of a hospital, how welcoming our environment is and, ultimately, whether patients are satisfied with the service they receive and the quality of care given. All these factors are particularly relevant as we design the new hospital.
The programme has also helped me analyse the treatment of rare diseases in the UK, looking at how policy is shaping service delivery and management. With about 7,000 in existence, rare diseases are more common than people think, but we only directly create specialist services for around 10 of these. Since the programme, I’ve been working on improving the way we treat these diseases, crafting a highquality service from scratch, while remaining within tight financial parameters.
Coming to London Business School was a chance to benchmark my career and leadership against a wider peer group outside of medicine. Thanks to the experiences and input of colleagues from a number of different sectors, I now have a robust level of knowledge and a much greater ability to analyse complex business problems. Establishing our new hospital is a multifaceted and politically challenging project, but successful completion will result in a lasting legacy for children and young people. Potentially the last bespoke children’s hospital in England, it is a great venture to be involved in.