The Incredible Value and ROI of Sharing with and Learning from Others

The incredible value and return on investment from open, honest, transparent communication and sharing was clearly on display Monday and Tuesday of this week.  The setting was the annual Healthcare Supplier/Provider Institute Meeting, April 25&26, 2011 in Las Vegas.

Participants included executives representing all facets of healthcare, including hospitals, IDNs, manufacturers, suppliers, distributors, GPOs, and other HCOs.  Participants focused on open, honest, transparent dialog including presenting, sharing, questioning and learning regarding:

  • Physician Alignment
  • The Exploration of Self Distribution
  • Building an Accountable Care Organization and the Impact on the Supply Chain
  • Creating a World Class Healthcare Organization Post Healthcare Reform
  • Strategies for Greater Success… from America the Beautiful

Representatives from many well-known and highly respected organizations presented and participated including Wellmont Health System, Texas Health Resources, Northwestern Hospital, Advocate Healthcare, Billings Clinic, Health Trust Purchasing Group, Orlando Health, LeeSar, Inc., Navigant Consulting, Intermountain Healthcare, and National Institute for Healthcare Leadership.

As facilitator and moderator of the event, it was my honor to enjoy a unique perspective regarding the sharing, learning and clearer understanding that took place throughout the two day meeting.  The meeting once again reminded me that “Wise men and women learn from the experience and wisdom of others, fools from only their own!”

I believe there is virtually no problem, no challenge, no issue, and no opportunity that has not already been addressed in some way by others, or is currently being addressed in some way by others.

It is absolutely amazing how many organizations and how many executives spend inordinate amounts of time, money and effort addressing issues, challenges and opportunities that others have already addressed or are currently addressing.  It raises the question, “Why not ask and learn from others?”  Your appropriate solution, action or direction might not be the same as others.  However, you can learn highly relevant information and “lessons learned” from others… saving huge amounts of time, effort and money or making far better use of precious time, effort and money.

During the time I was responsible for the national Education and Networking strategies and initiatives for VHA, senior executives from VHA shareholder hospitals and IDNs would approach me and say things such as:

  • “Dan, I just made a half million dollars for my organization as a result of the last roundtable discussion.”
  • “Dan, I will save my organization over one million dollars in the next three months as a result of the previous presentation and discussion.”
  • “As a result of the discussion and what I have learned today, we are going to completely change the direction of one of our most important strategies.  I cannot tell you how important that strategy is to our long-term survival and success.”
  • One COO of a large VHA shareholder hospital once told me, “I set a goal of making or saving at least one million dollars as a result of each of these meetings I attend.  I track the results to see if we achieve the one million dollar objective… and we almost always achieve or exceed the goal… our ROI is phenomenal.”

How often do you address difficult problems, issues, challenges or opportunities that have already been addressed by highly respected colleagues and peers around the country or throughout the world?  Why would you want to spend valuable time, effort and resources addressing difficult issues without consulting respected organizations and colleagues who have probably already addressed the same issue?

Don’t go it alone!  With all due respect, you are not THAT smart! Life is far too short and far too complicated to go it alone.  No one is THAT smart!

Never ever underestimate the power, effectiveness, efficiency, and incredibly positive results of sharing with and learning from others… particularly those you respect and admire for what they have done and what they are doing.  By the way, these highly successful people and organizations are the first to agree to share and partner, whether formally or informally, with other individuals and organizations that truly understand the value, power and ROI from sharing with and learning from others.

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I am a leader, speaker, and author who is passionate about Leadership Excellence and Achieiving Greater Success. I am the author of the books Be An Inspirational Leader(2016) and Presidential Leadership (2013), and deliver keynote presentations on those topics and several others.

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