This article is sponsored by Synchrony Health Services. In this Voices Interview, Senior Housing News sits down with Brad Estes, COO of Synchrony Health Services, to talk about Synchrony’s focus on culture, and how it continues to shape the future of the organization. He discusses Synchrony’s key business goals for 2024, and the company’s strategy to evolve as the senior living market grows. He also highlights some of Synchrony’s key accomplishments in the last couple of years.
Senior Housing News: What career experiences do you most draw from in your role today?
Brad Estes: In my most recent role prior to joining Synchrony, we were very intentional about defining and nurturing our cultural model, and I bring that same mission to my role today. I joined Synchrony because we also revolve around that culture of taking care of our employees first so they can take care of our customers. My professional journey has always followed that philosophy, including a focus on collaboration and empowerment to achieve greater goals.
We want to make sure that we’re putting everyone in the right spot and keeping them motivated to make them feel good about where they are. That principle doesn’t change from role to role, or industry to industry.
What is your personal leadership philosophy, and how does it align with Synchrony’s long-term vision?
Servant leadership is key. It’s the upside-down org chart where the boss is at the bottom taking care of management, and management is taking care of the front-line employees because they’re ultimately the ones that make the company work. This directly impacts our customers as they interact with residents, provide physical therapy, manage medications and conduct lab tests. Our goal is to provide constant support to our employees through this servant leadership approach.
In our recent leadership meeting, we referenced a book called “The Secret,” which introduces the SERVE model. This acronym encompasses seeing the future, engaging and developing others, reinventing continuously, valuing results and relationships, and embodying the values, which are principles we uphold.
How do you continue the mission of service to employees and customers alike?
At Synchrony Health Services, our success revolves around a cyclical model that we call the Fly Wheel to Success. This model begins by prioritizing our employees so they’re happy to show up every day, then equipping them with the necessary resources to thrive. When employees are happy, they deliver better services to our customers. Satisfied customers, in turn, maintain long-term relationships which benefits our investors. Financial success, while not our ultimate purpose, allows us to further invest in our employees, keeping the cycle in motion.
What are your key business goals for 2024?
Our main objectives for 2024 are to continually seek ways to deliver enhanced value to our customers, especially in the face of pricing pressure and workforce challenges. As the health care landscape evolves toward a value-based model with the rise of I-SNPs and similar programs, our responsibility is to guide customers in balancing cost-effectiveness with maintaining resident outcomes. This requires us to deepen our knowledge about these new payor models.
Synchrony’s ambition goes beyond just supplying medications, therapies or lab results — it is about holistic value. Our growth strategy prioritizes forming meaningful connections with customers who resonate with our vision, mission and values. Aligning our values ensures a partnership-driven approach rather than a mere transactional one.
How do you anticipate the market will evolve in the coming years?
Value-based care is the key trend to watch in health care, focusing on outcomes over the volume of services. We’ve transitioned from maximizing therapy sessions to a system that centers on patient results. The goal is effective patient care, achieving positive outcomes and ensuring medication adherence and compliance. With our integrated approach of offering pharmacy, therapy and lab services, we believe we are well-equipped to support customers in this value-driven health care landscape.
Tell us about some of Synchrony’s recent accomplishments.
Skilled Nursing or Seniors Housing operators can come to us for outstanding pharmacy, rehab and lab services under one roof. We are proud of this collaborative model that is centered around programming to drive better outcomes. In the past two years, we’ve integrated these services allowing us to take a holistic approach to patient care, focusing on the bigger picture.
One of our significant achievements is our SET (Screen, Evaluate, Treat) program aimed at reducing falls, which is a major concern in senior care settings. Through this program, our pharmacists and therapists collaborate to prevent such incidents, and our data indicates its effectiveness. Additionally, we’ve launched a medication adherence program ensuring residents take their prescribed medications and other initiatives to enhance residents’ quality of life. At the core, it’s all about fostering communication and collaboration.
In a couple of words, finish this sentence: “In 2023, the senior living industry has been defined by…”
…outcomes. It’s all about outcomes. We have to prove that we can add value to the residents, not simply check a box. Everything is centered around outcomes and value.
Editor’s Note: This interview has been edited for length and clarity.
No matter where a patient is in the healthcare continuum, Synchrony is right there with them. This means better care transitions, better communication within the interdisciplinary care team and between hand-offs, lower risk of medication errors, and faster turnaround on important lab results. Synchrony’s approach to integrated solutions means providing higher-quality care at a lower cost for post-acute providers. Click here to learn more.
The Voices Series is a sponsored content program featuring leading executives discussing trends, topics and more shaping their industry in a question-and-answer format. For more information on Voices, please contact [email protected].