13. Hyper Collaboration and Compassion in Healthcare Leadership w/ Funso Olufade, PhD, MBA

Hyper Collaboration and Compassion in Healthcare Leadership w/ Funso Olufade, PhD, MBA

In this episode, we pop the hood and look at the engine of healthcare from the perspective of a pharmaceutical CFO, exploring patient-centered care and the power of hyper-collaboration to make a difference in not only the lives of our patients, but our co-workers and stakeholders alike.

Dr. Funso Olufade, PhD, MBA is a healthcare finance leader and pharmaceutical executive. He has held roles in various roles at various multi-national companies with the quest of improving global patient access to medicines. Funso holds a Ph.D. in Health Sciences from Seton Hall University, an MBA in Finance, and a Bachelor of Science degree in Economics from Rutgers University.

Funso is also a member of the American College of Healthcare Executives of New Jersey (ACHENJ) and Chairs the Diversity and Inclusion Committee. He is the founder and Managing Director of Devoted Skies, a non-profit organization bridging the healthcare disparity gap in developing countries.

Funso Olufade Ph.D, MBA links:

https://www.linkedin.com/in/funsoolufade/

https://devotedskies.org/

Music Credit:

Jason Shaw from www.Audionautix.com

THE IMPERFECT SHOW NOTES

To help make this podcast more accessible to those who are hearing impaired or those who like to read rather than listen to podcasts, we’d love to offer polished show notes. However, Swift Healthcare is in its first year. 

What we can offer currently are these imperfect show notes. The transcription is far from perfect. But hopefully it’s close enough - even with the errors - to give those who aren’t able or inclined to audio interviews a way to participate.  Please enjoy!

Hyper-Collaboration and Compassion are Key to Healthcare Leadership

[00:00:00] Patrick Swift, PhD, MBA, FACHE: [00:00:00] Welcome folks to another episode of the Swift healthcare video podcast. I'm Patrick Swift, your host. I'm delighted that you're here and I have a fantastic guest for us today. I am delighted to welcome. Funso welcome to the show.

[00:00:13] Funso Olufade, PhD, MBA: [00:00:13] Thank you so much, Patrick. Very, truly an honor to be joining you on the podcast, delighted, .

[00:00:18]Patrick Swift, PhD, MBA, FACHE: [00:00:18] Thank you for being here for the zone. And I'm delighted to share for our listeners today. Celebrates an email I got yesterday that this podcast is ranked in the top healthcare leadership podcast from feed spot. So I want to give a kudos to feed spot, and I want to thank our listeners and viewers.

[00:00:33]. And let me tell you about our wonderful guest  . Funso Olofade is a healthcare finance leader. He's a chief financial officer and he's a pharmaceutical executive he's held roles in various multinational companies with a quest of improving global patient access to medicines. What a novel idea, someone committed to improving.

[00:00:57] Uh, access to global to [00:01:00] medicines, um, Funso , uh, holds a PhD in health sciences from Seton hall university go Seton hall, an MBA in finance. Of course you'd want to have an MBA in finance as a CFO and a bachelor of science degree in economics from Rutgers university. And I'd also say he has a heart of gold.

[00:01:16] I know him personally, and he's got a heart of gold. Suunto is a member of the American college of healthcare executives of New Jersey and chairs, the diversity inclusion committee. And he's also a founding and managing director of devoted skies, a nonprofit organization bridging the healthcare disparity gap in developing countries.

[00:01:35] We're going to talk about all this and Funso welcome to the show.

[00:01:38] Funso Olufade, PhD, MBA: [00:01:38] now. Thank you again, Patrick. Congratulations on the Feedspot  recognition. This is great.

[00:01:43]Patrick Swift, PhD, MBA, FACHE: [00:01:43] Let's get to it. So, um, what are you up to these days? I want to start with that.

[00:01:48] Funso Olufade, PhD, MBA: [00:01:48] Fantastic. Thank you. Thank you. It's a, again, truly an honor to be sharing this with you. Believe it or not. , it's, , you know, staying who I am, , maintaining, , this, this long journey and continue the adherence that it takes [00:02:00] to, , continue to provide, , global patient access to medicines, , in the world of COVID.

[00:02:04] I think everyone, , as struggled in balancing being a professional. Being a parent and also being teachers of our children at home too. So that challenge in the last year, I think we can all relate to. And that is really been my, my journey. , that's where I am, , every now and then I sit back and just still reflect on kind of the modern day challenges that we have in healthcare.

[00:02:26] Right. How can we create this integrated, , patient journey? , from diagnostics to, , how patients pay for medicines and they care themselves. , how does drug development evolved, , at a fastest speed? , we saw what happened with COVID, , drug development that used to take us years. Seven years happened, , when a matter of nine months.

[00:02:45] So all of these healthcare, , modern challenges as I call it, , it's things I like  to tinker on and, , you know, continue to find ways contribute to, to advance them.

[00:02:54] Patrick Swift, PhD, MBA, FACHE: [00:02:54] Hmm. Funso and you're the first chief financial officer [00:03:00] in pharma on the show and, you know, finance and healthcare is not sexy. And I, here's a great opportunity to hear from someone who we can pop the hood and healthcare. We can look, look under the hood of what's going on in healthcare and what is giving you joy?

[00:03:16] And the work that you're doing in pharma that relates to CFO activities, but where's the joy. And what can our listeners learn about what the joy is in the work that you're doing for the company you're working for and what you're doing for, for, uh, access to medicine.

[00:03:29] Funso Olufade, PhD, MBA: [00:03:29] great. Great, great questions. Um, honestly, the analogy I give people is that, uh, you know, people like to say Benchside . To bedside. That's what happens in healthcare for scientists, at least, uh, because I started in a cubicle as a finance person, I figured I still had a longer way to go to get to the bedside.

[00:03:48] It's all about patients and the humanizing care delivery. That's really what healthcare is all about. So even as a CFO, what I try to do is to find ways where [00:04:00] all of my efforts and inputs can make that patient experience a lot better. These are our relatives. These are our friends, these are our community members.

[00:04:11] So what can I do in that journey to make sure that the patient experience is better? That is really, uh, what I embark on every day. And again, it's very rewarding. I tell a quick story here. Uh, the first time, , when I met a patient, , I was on a flight, , going from,  , New Jersey to, to California. And one of the air stewardess, , was driving the cart and  stopped near me, I was sitting in business class, , of course, , much earlier in my career days.

[00:04:38] And, , you know, approached me and said  at that. Hey, Mr. Bigshot, how did you get to sit in this business class row? And I said, well, now it's not me. It is my company that afforded me this row. So, so great. What company do you work for? So I paused and I shared at what point company that makes a drug and you probably don't know anyone with this disease is very, very [00:05:00] debilitating. , the stores, no, tell me more. I want to know about this disease. So Ms. Multiple sclerosis is a really, really debilitating disease and, , what we have a disease modifying therapies and people don't get to live long once they're diagnosed with this disease, but we have a medicine again that slows the progression, and this is how patients get to live normal lives.

[00:05:20] Patrick Swift, PhD, MBA, FACHE: [00:05:20] Outstanding,

[00:05:21] Funso Olufade, PhD, MBA: [00:05:21] So as soon as she walked away, she came back to me to tell me that you don't think I know anyone with Ms, but I am actually an Ms. Patient. And the drug that you just described is what I'm on . And that's still what enables me to be able to function. So from that moment, , Patrick, and that moment, Patrick, I've realized that staying close to the patient is really what transforms everything we do in health care and challenges, decisions we've made and how we get a therapist in the marketplace, , on a daily basis.

[00:05:51] Patrick Swift, PhD, MBA, FACHE: [00:05:51] oh  . That's, that's such a sweet story for them. So it's, it's a sweet story because you're, you're a CFO that talks about patient experience. [00:06:00] You also got asked by a stewardess, what are you doing in first class? And, um, there are diversity equity considerations there. If I were sitting in first class, the stewardess, wouldn't be asking me, what am I doing there?

[00:06:13] You got to ask that. And how did you respond? You responded with heart and it brings tears to my eyes because you. Focused on the cure of the patient and you're helping her. And that is the heart of healthcare. And I'm sorry to get teared up, but that's the power of, of what we can do in healthcare. I'm just so proud of you that you responded with.

[00:06:35] Well, this is how I serve and she responded with, Oh, I'm benefiting from that. That's beautiful. And it's just so dharmic and, and, and, and joyous in the work we do. So thank you for sharing that story. And I want to move to your professional journey. Um, what was this like for you personally? Uh, I'd love for you to share where you [00:07:00] started and got to where you are now.

[00:07:02] Funso Olufade, PhD, MBA: [00:07:02] Yes now. Great question. , and again, you, you, you described it a little bit in your intro. My biography, , I grew up on three continents and that's the way I like to do it. , born in West Africa, , grew up in the States in New Jersey to be specific, but professionally. I grew up in Europe and this is where I got to see the world and reflect on experiences that are different than what I experienced either in the U S or, , in Africa.

[00:07:27], I also benefited from great mentors, great mentors that challenged me, , great mentors that, uh, fully understood what my strengths are, and also pushed me further than that. And I think those are the elements. Oh, what has guided me through all of the different organizations that works with in healthcare, , and gotten me to where I am today as a CFO of a pharma company.

[00:07:50], again, I'm a healthcare guy, I'm an ambassador for teaching and learning within healthcare. So it's whatever brings out the element of curiosity in people. [00:08:00] That is how they can further their career. You know, you don't know it, go after a challenge yourself, figure it out. And also the, uh, you can get rewarded with a, with a, , incredible, , job, , , that you can pursue continue, foresee what you're passionate about.

[00:08:13] Patrick Swift, PhD, MBA, FACHE: [00:08:13] I love it because you, you also touched on the mentorship you received, um, recognizing your strengths, but also the areas for improvement as an executive coach. That's part of the work that I do with my clients is recognizing what are our strengths and then, and then how can we build on those? And the beauty is that you've had mentors.

[00:08:33] That have also supported you. And that is a, uh, give and take it's it's, uh, the contribution, the heart that you brought, the heart that you displayed earlier is about that dynamic of the giving and taking of life. It's not just meeting our needs. It's, it's contributing, it's the growth and contribution. So I'm grateful for that.

[00:08:50] And I'm, um, I want to ask you about. Any, let's talk about wisdom. Let's talk about wisdom to share with aspiring healthcare leaders, aspiring healthcare folks, [00:09:00] someone who wants to make a difference from someone who is making a difference. What lessons learned wisdom do you have?

[00:09:06] Funso Olufade, PhD, MBA: [00:09:06] Patrick, you, you know me very well. , well, you know, I consider you a great friend and, , the way I come across in my leadership style and where I put it, it's still always about authentic leadership. How can you lead an organization? Lead a team if they're fully don't know who you are. I have this famous phrase I use when I, when I eventually get comfortable with anyone that I'm meeting for the first time, , asking them, what do you see when you look at me?

[00:09:33], and again, you know, it's, it's not the first time. It's not, hello. Hi, how you doing? What do you see while you look at me? But over time you actually get in people too. , clarify whatever, , stereotypes or the way they perceive you. So you can actually share them where you are. I think the ability to be authentic, the, the opportunity to share your stories basically makes you vulnerable, makes you relatable.

[00:09:57] And provides the opportunity for people [00:10:00] to relate to you and be able to follow whatever the vision that you are advocated. So again, , authentic leadership, , keep an open mind about ideas, , at the same time, the vulnerability that comes with all of this is so incredible. And that's what makes, uh, leaders of great teams, , very successful.

[00:10:18] Patrick Swift, PhD, MBA, FACHE: [00:10:18] authentic leadership, openness. And you're also sharing a, uh, the secret sauce of leadership Funso that you shared, you ask people, what do you see your vulnerable? And you're open to feedback. And that is leadership that you can be a CEO of a hospital and you still gotta ask, what do you see? And make that connection.

[00:10:44] You can be a new employee. In healthcare or in any profession, I get feedback from folks. They know they're not, they don't work in healthcare, but they watch my podcast because they get something out of it that inspires them. And I'm, I'm so touched that you brought that up. It's authentic leadership.

[00:10:59] Geoffrey Hall was [00:11:00] speaking about that in a previous podcast we did earlier and that's, you're touching on the special sauce that is so powerful and. And that is part of the DNA of leadership that, where we really are not just getting people to do things. That's not li it's not you do this. It's come this way.

[00:11:20] Let's go this direction. So I love that. Um, I understand you were putting this perspective into practice with the nonprofit. So I want to talk about your nonprofit and, and hear about what's. What are you up to please share my listeners? What are you up to? What's your why? And, and also let's talk about lessons learned and how you're applying that back to your healthcare leadership.

[00:11:40] Funso Olufade, PhD, MBA: [00:11:40] absolutely. So I'm a devoted Skye, the nonprofit that you reference, I really it's based in New Jersey, but the goal is to see how we can increase patient access to modern medicine in developing countries. , we do it as in three ways. , Patrick, the first is philanthropy. We collect our supplies and donate to [00:12:00] these, , community hospitals in these countries.

[00:12:02] The second is partnerships partnerships with health systems and local governments and community clinics to see how can we help them create. A health care infrastructure that connects to either specialists, either teaching hospitals that actually enables a patient to continue that care continuum. So it's webinars series, understanding what kind of, , payment types they have in these countries.

[00:12:27] And how can we help facilitate them, our patients within these communities to continue to do that. So we'll partner with other NGOs to achieve that.

[00:12:34] Patrick Swift, PhD, MBA, FACHE: [00:12:34] awesome.

[00:12:35] Funso Olufade, PhD, MBA: [00:12:35] The third of this is just research, collecting data from other NGOs and people that volunteer to see, , how effective is given back in the regions that they've participated in because people donate, people do want to give back.

[00:12:47] But what kind of impact is it having? So these are the things that we do within the Devoted Skies , but in reflection, as you ask at the end of the day, it's about compassion, right? , you know, humanizing healthcare and knowing that, [00:13:00] , you know, the whole concept of no money, no mission still exists. But at the end of the day, I think, , as a finance guy living be the first to tell you this, that we need to reimagine.

[00:13:09] We need to reinvent capitalism when it comes the healthcare delivery.

[00:13:14] Patrick Swift, PhD, MBA, FACHE: [00:13:14] Well, take it to another level, take it to that next level, right. To, to, to take that, um, th th the power and the beauty of what capitalism is has, has helped create such, um, wealth and health and goodness, but there's also that shadow side. And what you speak about is that transformation to, to that next level, right?

[00:13:33] Funso Olufade, PhD, MBA: [00:13:33] So we didn't have this conversation before now, just so the listeners know that is exactly the point that I'm saying there's so much benefit in the, , the innovation, the, the competitiveness that comes with capitalism, but when it comes to the delivery, Within healthcare. I think there are opportunity areas that we all have we saw.

[00:13:52] Yeah. We saw their examples of this. with COVID , right. You know, you see, , , competitors working together, not just to develop a drug, but also to [00:14:00] distribute the drug, , to manufacture the drugs. Those are things that shouldn't be a one-time pandemic event, but the way healthcare is delivered compassionately and that's, that's really, , what, what are Devoted Skies  looking to help, , advance.

[00:14:13] Patrick Swift, PhD, MBA, FACHE: [00:14:13] I'm loving that I'm loving that. And any lessons learned or wisdom from the nonprofit sector that you're bringing back to the work you're doing in healthcare.

[00:14:23] Funso Olufade, PhD, MBA: [00:14:23] Great question. Good question. And again, , the way I see this, that, you know, the challenges of modern healthcare is so profound. It's not one person or one organization that can solve these problems. It does take really, it takes policymakers. It does take. Drug manufacturers, , , healthcare providers, it takes insurance companies, payers, the, the, the, the closeness, the collaboration between all of these entities is really what's going to help us address some of these challenges that we have in healthcare.

[00:14:56] And that is what I'm seeing in working with these, , regional, , community [00:15:00] clinics and all these countries that you can't just go work with a particular hospital entity. It does really take involvement with those four PS that I described providers, policy makers, , payers, as well as patient groups, those four PS is really what's going to help us address some of these healthcare issues.

[00:15:18] Patrick Swift, PhD, MBA, FACHE: [00:15:18] Absolutely from zone. I love that. It's a beautiful point. And I'd love to move to my favorite question, which is if you had the attention of all the healthcare folks on the whole planet for a brief moment, all the folks that work in healthcare for a brief moment, what would you say to them?

[00:15:36] Funso Olufade, PhD, MBA: [00:15:36] Wow. So profound and, and, um,

[00:15:40] Patrick Swift, PhD, MBA, FACHE: [00:15:40] Well, it's a profound, depending on what you say.

[00:15:41] Funso Olufade, PhD, MBA: [00:15:41] well, I am thinking about it now. I'm, you know, struggling with, you know, what question or what answer best fit. Cause this is my one chance from the healthcare mountaintop as you

[00:15:50] Patrick Swift, PhD, MBA, FACHE: [00:15:50] Yes, sir.

[00:15:51]Funso Olufade, PhD, MBA: [00:15:51] , at the end of the day, , Patrick, cause I just shared with you, it's about hyper-collaboration. Talking to each other again, between policy makers, [00:16:00] providers, payers, and the patients themselves, we're not treating diseases. Talk to the patients. What are they experience as they go through this journey? It's about all of these groups working together. Hyper-collaboration between these groups is really what will help us address the challenges we think we know. But we might not have all the answers. My, uh, one, uh, CEO leader in the past used to say, when we sit in a boardroom having discussion and say, okay, if a patient was in the room, would you still make the same decisions without the patient being in the room? So again, this is really what it takes, thinking about all these different contexts and keeping that in mind and collaborating and working with all of these stakeholders is really what we get us to advance care delivery in the future.

[00:16:45] Patrick Swift, PhD, MBA, FACHE: [00:16:45] collaboration, collaboration, and humility and vulnerability, all of this Funso  I love this. Well, if folks are listening, folks are interested in learning more about what you're doing, connecting with you. How can folks get in touch with you?

[00:16:58] Funso Olufade, PhD, MBA: [00:16:58] Absolutely. My [00:17:00] LinkedIn is, is definitely a way to reach out to me. , but also, , you can check out the Devoted Skies website, DevotedSkies.org, , two great ways to reach out to me. And I'll definitely, , be a respondent.

[00:17:11]Patrick Swift, PhD, MBA, FACHE: [00:17:11] . I'm going to be putting that on the show notes. It'll be as part of the podcast. And you don't know I'm about to say this, but I just earlier you were talking about devoted skies, right? And, um, uh, generating, um, uh, the Goodwill and the goodness that that devote skies  does. And I'm making a commitment that, um, I want to encourage folks to go to DevotedSkies.org  and make a contribution.

[00:17:34] And if you do send an email and I will respond with, uh, a copy, a free copy of my book, one mountain, many paths. Um, folks, if you make a contribution to devoted skies send an email to a podcast@swifthealthcare.com, you're going to get a response of the PDF version of my award-winning book.

[00:17:57] One mountain, many paths , I don't need to know how much you gave to [00:18:00] voted Davos guys. That's up to you. But if you are supporting devoted skies and from the Swift healthcare platform, I want to encourage folks to make a contribution to Devoted Skies.

[00:18:10] And if you do shoot an email to podcast@swifthealth.com and just in the subject line, put free book I'm going to shoot you a reply with a, with a link to be able to download a copy of the book. So Funso  I

[00:18:21] Funso Olufade, PhD, MBA: [00:18:21] Thank you so much,

[00:18:22] Patrick Swift, PhD, MBA, FACHE: [00:18:22] Absolutely absolutely surprise. I wasn't playing.

[00:18:25] Funso Olufade, PhD, MBA: [00:18:25] now very

[00:18:26] Patrick Swift, PhD, MBA, FACHE: [00:18:26] you inspire me. You inspire,

[00:18:28] Funso Olufade, PhD, MBA: [00:18:28] now. Thank

[00:18:28] Patrick Swift, PhD, MBA, FACHE: [00:18:28] you inspire me. So listen, thank you for being on the show. And it's just been a joy to get to talk with you, friend.

[00:18:34] Funso Olufade, PhD, MBA: [00:18:34] Absolutely

[00:18:34] Patrick Swift, PhD, MBA, FACHE:  This is how we reduce burnout in healthcare workers plus reduce healthcare disparities!