On the surface, a fourth chief executive officer in four years seems to be a recipe for disaster for Penn's beleaguered health system. Stability at the top of Penn Medicine is of tremendous importance, especially as the Health System continues to climb out of the red, and yet another leadership change has the potential to turn the system back to its late '90s losses.
The burden has fallen on newly-minted CEO Ralph Muller to prove that he can avoid the pitfalls of rookie mistakes when he takes over in June -- and to show that he plans to make it past the one-year mark.
Muller is highly qualified, having served in a similar role at the University of Chicago. And he could not be entering at a better time. After years of turmoil, the Health System is on the verge of its third consecutive profitable year, a goal that not long ago seemed well out of reach.
If the Health System is to continue on its current path, stability will be a key. Muller's presence and his willingness to commit for the long haul will allow top officials to focus on maintaining fiscal solvency and securing monetary support. The failed $100 million deal with the Philadelphia Health Care Trust would have given the system some breathing room, and the Health System would do well to seek out other financial partners.
Muller has his work cut out for him, but his predecessor, Robert Martin, laid the groundwork for financial stability. It is now up to Muller to lead the Health System further into the black.
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