Change Agent
But not all of these people know of Bill's off campus mission: his passion for making healthcare providers - and consequently the careers and lives of the people who work there - better via better fiscal management. Over the past two decades, he has worked with healthcare providers in over 30 states, 150 hospital systems and with over 5,000 physicians. He is also a member of the faculty of the American College of Physician Executives, a group whose credo reads: "We believe physicians are uniquely positioned to improve health care. To this end, we strive to help physicians by providing the tools necessary to become world-class medical executives."
How did you get interested in the healthcare industry?
I've been involved with the healthcare industry for over twenty years now. There was an opportunity here at the Business school to do executive education that involved healthcare and physicians and I've always been attuned to opportunities to make a difference. I knew I wanted to do something that required problem solving, that would make a difference and that would be personally meaningful to me: healthcare fit all of those requirements. I count myself extra lucky that the work I started here in the Tidewater area got national recognition. Being in this industry has given me many opportunities to work with world-class systems and talented, committed leaders.
Can you go into more detail about how healthcare fit your interests?
Well, in terms of problem solving, the industry has an infinite number of complex problems - and they are always changing (so that fit my first criterion). And because of the nature of so many people in the field, having a financially minded person involved with a team can make a huge difference in the culture of any healthcare organization - so that fit my second criterion.
Current statistics indicate that over a third of hospital systems in the US are not likely to be financially viable over time. It's a very difficult industry, especially because an organization can go from sustainable to unsustainable pretty quickly due to the combination their internal cost structures and the rapidly changing external factors that shape their environment. If a healthcare provider is not proactive, they will begin to spiral downward financially. In that sense, it is parallel to maintaining a healthy body: prevention and taking proactive measures is much, much more effective - often in fact even life-saving - than trying to treat disease or economic problems once they have taken hold.
And my last criterion - that the work be personally meaningful to me - is true too. Making this contribution is very meaningful to me on a personal level. Those organizations that manage their affairs well provide a world where the healthcare is better and the people there have better careers because of it. Or, at least, with intentionality, the probabilities of having these improvements increase. And I am grateful to be part of that.
How did you get interested in accounting?
Well, I was a math major and while I enjoyed math, I knew I wasn't going to pursue it as a career. I didn't enjoy strictly abstract thinking -- so I went into the MAcc (Master of Accounting) Program at the University of Illinois, Urbana. After completing this program, I worked in public accounting, taught at a community college, and then joined the faculty at DePaul University in Chicago. When I decided to become a professor I went into a PhD program (at Northwestern University's Kellogg School). Upon completion, I returned to the faculty at DePaul and headed-up a MAcc Program designed for "class poets" and other Arts and Sciences majors who had decided to become accountants. I also directed the DePaul CPA Review Program in downtown Chicago.
When did you know that you wanted to teach accounting instead of practice with a firm?
As soon as I started teaching at the community college, I found that there are places and spaces in accounting for all sorts of intellectual interest as well as for people who (also) want to advance their leadership qualifications and qualities, and it's exciting to be part of that.
One of my favorite expressions is: "When the student is ready the teacher appears." This occurs with undergraduates when they realize there is a good fit between accounting and their interests and abilities. The same phenomenon occurs with physicians. When they realize they need to expand their sphere of concern to be effective leaders, they are ready to learn more about business, they are ready for a teacher, it's a real pleasure to be there at that point in their lives. Of course, this expression also goes in the opposite direction and especially in the principles class it sometimes seems that I am more "ready" than the reluctant student.
With students in the classroom, it's exciting to help them develop in so many ways. It's hard to imagine that anyone in today's business world should assume a leadership role without financial knowledge. To resolve complex problems you need people to bring their expert perspectives to the table and collaborate. When you put together people who actually need each other, because they each have different talents, then that's when you learn about team work. It's that synergy of skill sets and talents - and that's where leadership is essential.
What made you decide to join the faculty at W&M?
My friend from the NU doctoral program, Jean Wyer, had decided to come to William and Mary. I owe her a large debt of gratitude. I arrived in the fall of 1978 and cannot imagine a better place to have put down roots. I don't have to tell you that W&M is a very special place. It's a pleasure and a privilege to work with our students and to be part of the William and Mary community.
Do you find it very different working with healthcare organizations and W&M students?
I take what is most exciting about the healthcare work I do and bring it into the classroom at W&M just as I take the work I have done in learning methods and styles and bring that to my consulting work. Sometimes that takes the form of cases that I create. In both settings I hope my students understand that as managers they need to manage processes, not costs. Costs are outcomes: it's crucial when looking at costs to look at the systems and processes that created them, not simply the cost of a service or a product. Cost accounting done badly simply rationalizes the status quo. My goal is to get people thinking in terms of change management and how financial modeling can assist in this management challenge.
Our W&M graduates need to become change managers and problem solvers. Our students are among the best and the brightest and our society needs them to engage in resolving our many challenges. Accounting can lead to so many choices: it gives you a capacity to do so many things. It's a great starting point for this reason. I want students to see that and then get ready to really make a difference in a way that resonates with who they are and who they want to become.
Last question: How do enjoy your role as Assistant Dean for the Undergraduate Business Program?
I served in a similar position in the early 90s and never imagined a repeat engagement. Though, I have always felt that I am advocate for the undergraduate program. A few years ago when our Dean, Larry Pulley, indicated that he wanted to focus on taking our Undergraduate Program to the top befitting the amazing new learning environment that Miller Hall will provide for us, I knew I wanted to be part of that effort. I see myself as one of many "champions" for our undergraduate program, and I can assure you that I am in very good company. So, the short answer to your question is that I count myself very lucky and I enjoy it very much.
