Key Points
- The newly launched Business of Healthcare Initiative aims to address the Florida healthcare sector’s complex operational challenges arising from an aging population, rising costs and escalating prevalence of long-term chronic conditions, among other factors.
- The initiative is emphasized by three prongs that look to bolster healthcare knowledge, business partnerships and student employment and success.
Moving quickly to implement a top strategic priority, the Herbert Wertheim College of Business at Florida State University has announced the official launch of its Business of Healthcare Initiative
In alignment with FSU Health, the initiative applies the college’s world-class strengths in research, teaching and industry engagement to address the Florida healthcare sector’s complex operational challenges arising from an aging population, rising costs and escalating prevalence of long-term chronic conditions, among other factors
Michael D. Hartline, dean of the college, emphasized the initiative’s three prongs, which he said aim to bolster healthcare knowledge, business partnerships and, importantly, student employment and success:
- Scholarly research, led by Patricia H. Born, Ph.D., the college’s new Herbert Wertheim Chair in Health Systems Operations.
- Industry engagement, led by Patricia Kenney, Doctor of Nursing Practice, the college’s new Herbert Wertheim Chair in Healthcare Workforce Leadership.
- Industry programming, led by Caroline Poole, MPA, the college’s director of business development and strategic partnerships.
“The Herbert Wertheim College of Business is uniquely prepared to address the growing demands of healthcare, and these three individuals are exceptionally equipped to lead this pivotal initiative,” Hartline said. “We embrace this extraordinary opportunity to elevate our scholarly impact, strengthen our regional industry footprint and shape the future of healthcare in Northwest Florida and beyond.”
The Business of Healthcare Initiative continues the Wertheim College’s growing emphasis on including healthcare in its programming and curriculum. That includes the Business of Healthcare Summit, launched in 2024, and a recently launched Online Master of Business Administration with a Major in Healthcare Administration, plus several graduate specializations in healthcare
The new initiative stems from a commitment by Dr. Herbert Wertheim, whose recent $65 million philanthropic investment named the college and the Herbert Wertheim Center for Business Excellence and, among other things, earmarked endowed funds for the new faculty posts, including those of Born and Kenney. Dr. Wertheim, a billionaire optometrist, inventor, businessman, philanthropist and the founder and president of Brain Power Inc., said he made the extraordinary investment in part to advance innovation in healthcare.
“Dr. Wertheim’s vision is exactly what the healthcare industry and our communities need, and I think training FSU business students to fill the gaps in the healthcare business workforce is essential,” Kenney said
“Dr. Wertheim’s vision is exactly what the healthcare industry and our communities need, and I think training FSU business students to fill the gaps in the healthcare business workforce is essential.”
– Patricia Kenney, Herbert Wertheim Chair in Healthcare Workforce Leadership
Underscoring expertise from across the college, Born added that the initiative “gives us an opportunity to move beyond traditional disciplinary boundaries, tackle some of the most consequential questions facing healthcare and generate research that can improve both the performance of the healthcare system and the lives of the people it serves.”
The project aligns with FSU Health, an integrated system that now includes Tallahassee Memorial HealthCare and brings together hospitals, physicians, clinics, research, education and innovation to improve the health of the communities the university serves, including rural and other underserved areas. The university-wide effort comes amid healthcare workforce shortages, a rapidly aging population and proliferation of AI. The university’s initiative includes establishing an academic health system and, in partnership with TMH, constructing new facilities in Tallahassee and Panama City Beach.
Here are details on the three prongs of the initiative:
Scholarly research
This segment, led by Born, focuses on academic collaboration among the Wertheim College, other FSU colleges, and health-focused schools and colleges Dr. Wertheim has named in Florida and California
Hartline emphasized Born’s background as “a high-impact” scholar whose “profound expertise in health economics and managed-care finance aligns with the chair’s mission to drive continuous improvement within healthcare systems.”
Born said the Wertheim College has identified about two dozen faculty members across all business disciplines who conduct empirical research, publish peer-reviewed studies or maintain advanced educational specializations in health or healthcare-related fields. She said she’s embarking on conversations with those faculty members about their plans for additional health-related research and “how they’d like to participate in this initiative.”
Born said the college’s research examines how business decisions, market forces, technology, regulation and organizational practices shape the cost, access, quality, sustainability and delivery of healthcare “while also addressing the financial and human challenges facing healthcare organizations and their workforces.”
She added: “I am excited to learn from one another, identify new opportunities for collaboration, and build on our collective strengths to realize our full potential.”
Industry engagement
This segment, led by Kenney, who has spent 12 years as executive director at TMH, builds connections with the regional healthcare industry and cultivates partnerships to support faculty research and secure sponsorships, grants and philanthropic investments. Also, it will establish career pathways for Wertheim College students, particularly those in its various graduate healthcare majors and specializations. This includes internships, project collaborations and job placements
Hartline hailed Kenney, whose academic background includes an MBA in Healthcare Administration and a master’s degree in nursing/family nurse practitioner, for her “extensive blend of executive healthcare experience, academic engagement and specialized leadership training.”
At TMH, she has overseen the Office of Nursing Engagement and the Office of Patient Experience
Kenney said she embraces her role as a “strategic liaison and regional healthcare representative” who will “help to identify, develop and coordinate any avenues that we can use for collaboration among the Wertheim College, FSU Health and other organizations to support the mission of the Business of Healthcare Initiative.”
Ultimately, she added, “we want to create mutually beneficial connections to serve and provide for the healthcare needs of our communities.”
Industry programming
This component, led by Poole, emphasizes industry conferences, forums and summits to build “a dynamic bridge,” as Hartline calls it, connecting the college to senior executives, policymakers, pioneering researchers and students
Hartline credited Poole for her work to help elevate the annual Business of Healthcare Summit as “the marquee event to position the college as a premier intellectual hub and a catalyst for industry-wide solutions.”
Poole said she aims to establish additional events that attract physicians and other healthcare providers who increasingly seek to embrace the business side of the industry
“It’s important for healthcare professionals to understand the operations and the pitfalls, including the organizational challenges, of running a healthcare institution and making everything run smoothly,” she said
She noted that healthcare innovation stood as a focus of the recent Tallahassee Chamber of Commerce Community Conference at Amelia Island, Florida. FSU Health served as the presenting sponsor
Poole added, referring to Hartline’s emphasis on the Business of Healthcare Initiative: “I’m excited that the college has jumped in with both feet to lead this effort for the betterment of our faculty, staff, students and communities in North Florida and beyond.”
