by Ari Kimmelfeld (’18); Noam Itzhak of SSSB contributed to this article

katzAs part of the MTA LEAD business program, high school students have the opportunity each week to participate in the Sy Syms School of Business’ Kukin Lecture Series. On Friday, April 17, the students were invited to hear from Dr. Nadine Katz, Vice-President at Montefiore Medical Center and Medical Director for the Einstein Campus. Dr. Katz provided a number of important lessons. She explained that collaborating with others and thinking outside the box is the key to business success. It is important to be open to change and to be willing to contribute to any situation. Dr. Katz mentioned that when she is a member on a board of any organization, she envisions herself as becoming the director within a couple years; she does this as a way of being motivated towards success.

Dr. Katz also provided an overview of the healthcare business. She explained that hospitals work on very slim margins. They have a lot of expenses and they operate differently than other businesses because they are controlled by many government regulations. Montefiore is an Accountable Care Organization. They provide enhanced care and coordination and focus on prevention and wellness. Medicare designated them in 2011 as a pioneer ACO. They achieved highest financial performance in year one at 7.2% and 7% in year two (about $14 million). They accomplished these staggering numbers because their doctors work more efficiently, taking care of more patients per week.

Important takeaways from Dr. Katz’s presentation included:

  • Look for opportunities everywhere, no matter what it takes
  • Have multiple mentors
  • Manage your time well
  • Stay true to your values
  • Seek feedback constantly
  • “You can have it all, just not all at once”

We all learned a lot from this incredible and informative experience, and it is a great and unique privilege that it is accessible to a high school student at MTA.

 

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