The State of Women in Healthcare 2015 by @Rock_Health


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This report on the State of Women in Healthcare explores why gender diversity matters in the workplace and what women and organizations can do to change the status quo. The report is based on a survey of over 400 women across the healthcare sector, including entrepreneurs, investors, industry executives, and healthcare professionals.

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  • I'm with you Kathy about some of these statements and the conclusions about some data seems a bit wooly! Any data about women and absences from work? My wife is a senior manager in health care where the vast majority of clinicians are women and one of her biggest problems is staffing, as so many women are absent from work for a whole variety of reasons but mostly revolving around pregnancies or IVF treatments. Recently we have thought that perhaps those women who are post family should paid more - good idea? - my wife falls in this category and is never off!
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  • We have been told in our healthcare class that we women will never make it to top level of the admin simply because we are women :/
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  • Hi there! Did you vet the statements you make in the slide deck? There are several that give me pause, so I'm hopeful you'll provide the backup data for your statements, thanks! Lots of work to be done.
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The State of Women in Healthcare 2015 by @Rock_Health

  2. 2 ABOUT THIS REPORT As part of our commitment to gender diversity, Rock Health produces an annual report on the state of women in healthcare. We seek to gain a deeper understanding of the challenges and opportunities women encounter in the healthcare industry. Our third report on this topic is based on a survey of over 400 women across the healthcare sector, including entrepreneurs, investors, industry executives, and healthcare professionals. This report also sources data from Rock Health's Digital Health Funding database. AUTHORED BY TERESA WANG @teresawang6 SARAH JACOBSON @sjacobson123 HALLE TECCO @halletecco SPECIAL THANKS TO Fiahna Cabana Lauren DeVos Pat Donohue Susannah Fox Malay Gandhi Julian Liang Lora Rosenblum WITH HELP FROM Thanks to our friends: MOLLIE MCDOWELL @mahlie
  4. PRESENTATION © 2015 ROCK HEALTH 4 Women are the key stakeholder in healthcare of healthcare decisions for the family are made by women 80% of family and informal caregivers in the home are women Source: Family Caregiver Alliance, US Bureau Labor of Statistics 78% 75% of women make up the healthcare workforce
  5. PRESENTATION © 2015 ROCK HEALTH 5 Yet women continue to be missing from the executive ranks Source: 100 Top Hospitals by Truven Health Analytics, Fortune 500, Rock Health Funding Database FEMALES MAKE UP: 34% 27% 21% 6% of executives at Top 100 hospitals of board members at Top 100 hospitals of board members at Fortune 500 healthcare companies of CEOs of funded digital health companies
  6. PRESENTATION © 2015 ROCK HEALTH 6 There are not enough women leading companies OUT OF 46 FORTUNE 500 HEALTHCARE COMPANIES, ONLY 3 WOMEN ARE AT THE TOP RANKED BY REVENUE Source: 100 Top Hospitals by Truven Health Analytics, Fortune 500 Low High MYLAN HEATHER BRESCH Chief Executive Officer MOLINA HEALTHCARE AETNA KAREN ROHAN President 46 1940 37 TERRY BAYER Chief Operating Officer $7B $7B $47B
  7. PRESENTATION © 2015 ROCK HEALTH 7 Companies with women in leadership positions make more money Source: “The Bottom Line: Corporate performance and women’s representation on boards”;“Does Female Representation in Top Management Improve Firm Performance?” $ 42M Firms with female representation in top leadership positions are valued higher GREATER FIRM VALUE FIRMS WITH HIGHER RETURNS HAVE FEMALE BOARD DIRECTORS Return on stock Return on equity Return on investment 14% 9% 14% 10% 5% 8% At least 3 female directors < 3 female directors
  8. PRESENTATION © 2015 ROCK HEALTH 8 Startups with women on the executive team raise more money DIVERSE TEAMS IN HEALTHCARE RAISE MORE Biotech Healthcare Services Digital Health Total Investments (all industries) $ 12M $ 8M +64% Source: “Diana Report Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital” 25% 22% 17% 15% % TOTAL INVESTMENTS IN COMPANIES WITH WOMEN ON THE EXEC TEAM AVERAGE INVESTMENT SIZE AVERAGE VALUATION VS. ALL MALE TEAM Diverse teams All male teams +49% First round of financing Last round of financing prior to exit
  9. PRESENTATION © 2015 ROCK HEALTH 9 Female investors are more likely to recognize the value of female founders As a female investor, I don’t have the assumption that a woman shouldn’t run this company because there’s a possibility that she might run off in 5 years to have a baby. I ask male founders, shouldn’t you care about your family too?” Managing Partner at Venture Valkyrie Source: “Women Entrepreneurs 2014: Bridging the Gender Gap in Venture Capital” 2x How much more likely are VC firms with women partners to invest in companies with a woman on the management team? 3x How much more likely are VC firms with women partners to invest in companies with a woman CEO? “ LISA SUENNEN
  10. PRESENTATION © 2015 ROCK HEALTH 10 There is still a bias against women in the workplace have adopted male behaviors in order to advance their career 50% 33% believe being female is disadvantageous to their career I am decisively in the camp that is ‘you should not act like a man'. I’ve spent a lot of my career acting like a man—being aggressive, sounding smart, and dictating—but that wasn’t going to put me at a different level. My advice is to understand and confidently play to your unique strengths.” Chief Product Officer of Evidation Health CHRISTINE LEMKE “ Source: XX in Health Survey (n=421) All three ‘C-level’ executives are women
  11. PRESENTATION © 2015 ROCK HEALTH 11 Men are more confident but women are more competent 45% 50% 55% 60% Takesinitiative Self-development Integrityandhonesty Drivesforresults Developsothers Inspiresothers Buildsrelationships Teamwork Establishesgoals Championschange Problemsolving Communication Connectsoutside Innovates Technicalexpertise Strategicperspective Men Women Source: “Are Women Better Leaders than Men?”; “Gender and perceptions of leadership effectiveness: A meta-analysis of contextual moderators” Men rate themselves 21% more effective as leaders than women do Yet, on % RATED BY OTHERS WHO DISPLAY THE LEADERSHIP TRAIT 15 competencies ofof the 16 an effective leader, colleagues rated women higher
  12. PRESENTATION © 2015 ROCK HEALTH 12 Gender diversity is important for workplace culture Diversity fosters a more inclusive culture Diverse firms experience 22% lower turnover Does your firm have enough women? Having a diverse team creates a positive, virtuous cycle Women raise the collective IQ of a team 67% of job seekers prioritize diversity Source: “Case for Investing in Women”; “What Makes a Team Smarter? More Women”
  13. PRESENTATION © 2015 ROCK HEALTH 13 Women feel gender continues to hold them back Gender discrimination still exists Gender discrimination and lack of respect is one of the biggest hurdles Their firms do not support women in career development 96% 45% 40% Source: XX in Health Survey (n=421) RESPONDENTS BELIEVE:
  14. PRESENTATION © 2015 ROCK HEALTH 14 Women need to support each other CEO of Kurbo Health JOANNA STROBER “We need encouragement from each other. For example, when you have young kids, everything just feels impossible because you’re not sleeping enough, you’re worried about who’s taking care of your kids, and it just becomes a tornado. But that’s actually just a really short period of time and it helps knowing that it gets easier. 40% ONLY believe it would be advantageous to have a female manager Source: XX in Health Survey (n=421)
  15. PRESENTATION © 2015 ROCK HEALTH 15 Women are financially penalized for having a family Source: “Getting a Job: Is There a Motherhood Penalty?” INCOME EFFECT MEN WOMEN+6% -4% Men with children are viewed as more stable and committed Women with children are viewed as easily distractible MOTHERHOOD PENALTY 20% • Childless, unmarried women make twenty- percent more than married mothers • Female managers with children are rated as less competent (CHANGE IN % OF INCOME PER CHILD) / child / child
  16. PRESENTATION © 2015 ROCK HEALTH $ 140K Female pay $ 203K $ 112K $ 120K Median physician income $ 51K $ 60K Median nurse income Median pharmacist income 16 And women continue to be underpaid for the same job Source: US Bureau Labor of Statistics; The Pew Charitable Trusts Male pay 45% wage gap 18% 7%
  17. PRESENTATION © 2015 ROCK HEALTH 17 Women do not feel they are achieving their full potential 44% TOP THREE CAREER BARRIERS IDENTIFIED BY RESPONDENTS 64% Women believe underselling their skills in the workplace limits their careers 53% In balancing work and personal commitments, many women cite lack of time as a significant barrier Women feel they can’t connect with senior leadership and they lack mentors CONFIDENCE BALANCE MENTORSHIP (% OF WOMEN) Source: XX in Health Survey (n=421)
  18. PRESENTATION © 2015 ROCK HEALTH 18 Lack of access to mentors is still a barrier for women % OF WOMEN THAT: do not have a mentor do not have a female mentor believe they have less access to mentors than their male colleagues 40% 85% 50% Source: XX in Health Survey (n=421)
  19. PRESENTATION © 2015 ROCK HEALTH 19 Women should take advantage of their network to identify strong mentors Women don't take advantage of their network to reach out to people who could be mentors. People are so much more willing to take time to talk to you than you think they are. I wish I had known that earlier in my career." “ Chief Marketing Officer of Welltok MICHELLE SYNDER global members4,000+ cities hosting events9 LinkedIn members2,300+
  20. PRESENTATION © 2015 ROCK HEALTH 20 Top cited role models Elena Rios Elizabeth Blackburn Elizabeth Holmes Elizabeth Nabel Ellen Zane Ellie Garret Esther Dyson Fawn Lopez Florence Nightingale Gabriella Heinsheimer Gail Boudreaux Gail Christopher Gail Wilensky Geradine Simkin Ginger Graham Gisela Paulsen Grace Colon Halle Tecco Heather Ross Hillary Clinton Ilse Treurnicht Ilyse Hogue Iman Nazeeri-Simons Indu Subayia Jane Cummings Jane Henney Jane Sarasohn-Kahn Janis Orlowski Jeannine Rivet Jen Hyatt Kim Bradley Kim Henrichsen Kim Popovitz Kim Tyrell-Knott Kirsten Gillibrand Kitty Ernst Komathi Stern Kristen Darby Kristen Torres Mowat Kristi Henderson Kyra Bobinet Larissa Severenko Laura Chavaree Laura Davies Laura Esserman Laura Wood Leota Lind Lesley Solomon Leslie Saxon Lillian B. Rubin Linda Avey Linda Freid Lisa Gualtieri Lisa Maki Lisa Suennen Liz Johnson Lorry Schoenly Lynn Shapiro Snyder Madeline Albright Mandi Bishop Marcia Brand Margaret Hamburg Margaret Laws Maria Hale Maria Ly Marianne James Marianne Udow-Philips Marilyn Chow Marilyn Tavenner Marissa Levine Marissa Mayer Martha Wofford Mary Brainerd Mary Currier Mary Muse MaryAnn Stump MaryJo Haddad Mathy Mezey Maureen Bisognano Maureen McCausland Melinda Gates Meredith Kim Meredith Philips Michelle Byrd Michelle Obama Miriam Wright-Edelman Missy Krasner Molly Cogan Molly Coye Myrtle Potter Jennifer DeCubellis Jessica Dudley Jessica Gonzalez-Rojas Jessica Richman Jillian Tullis Joanne Pohl Jodi Condyles Joia Mukherjee Joycelyn Elders Judy Faulkner Judy Murphy Judy Norsigian Julie Murchinson June Simmons Karen DeSalvo Karen Ignagni Karen Middleton Kate Hermans Kate Kohn-Parrot Kate Walsh Kate Wilson Kathleen Sebelius Kathy Balestreri Kathy Glaub Kathy Guisti Kathy Hudson Kathy Lancaster Kathy Nieder Kathy Romano Kavita Patel Catherine Knox Catherine Whiteside Cathy Young Cecile Richards Chelsea Clinton Cheryl Sharp Christina Lamontagne Ciara Soh Clare Gerada Connie Ryerson Cora Tellez Cristina Regalado Cynthia Pearson Danielle Russella Dava Freed Deanna Mulligan Deb Kilpatrick Debbie Donovan Deborah Dunsire Debra Albert Debra Lieberman Debra Ness Debra Reisenthel Diana Hendel Diana Mason Diane Gage Lofgren Donna Katen Bahensky Donna Shalala Donna Sprujit-Metz Eileen Auen Aenor Sawyer Alexandra Drane Alexis Arrowsmith Alexis de Raadt Alice Chen Alide Chase Allison Leak Amanda Goltz Amy Andersen Amy Cueva Amy DuRoss Amy Kincaid Amy Percy Andrea Price Angela Braly Ann Albright Ann Plante Anne Beal Anne Wojcicki Bernadette Keefe Beth Comstock Betsy Nabel Bonnie Anderson Bridget Duffy Bridgette Heller Cara McNulty Carleen Hawn Carol Walsh Carol Salerno Carolyn Clancy Nancy Lindborg Nancy Schlichting Nancy Turnbull Naomi Fried Nina DeSalvo Nina Kjellson Nora Belcher Orphelia Dahl Pam Cipriano Pamela Hudson Pat Christen Patty Mechael Paula Johnson Paula Knight Peggy Chin Peggy Kurusz Penny Simkin Penny Wheeler Rachel Kyte Rachelle Walensky Rain Henderson Regina Benjamin Regina Herzlinger Reshma Khilnani Risa Lavizzo-Mourey Robin Strongin Ruth Lubic Sally Osberg Sandra Fenwick Sharon O'Keefe Sheryl Sandberg Silona Bonewald Steph Reel Sue Shlick Sue Siegel Sumbul Desai Susan Albert Susan Dentzer Susan Desmond-Hellmann Susan Edgman-Levitan Susan Love Susan Moffat Bruce Susan Pepin Susan Stone Susan Turney Susannah Fox Suzanne Bakken Suzy Myers Tanisha Carino Tejal Gandhi Teri Pipe Ursula Burns Valerie Fleishman Valerie Ulstad Valinda Rutledge Veda Johnson Veronica Barajas Vondie Woodbury Wen Dombrowski Wendy Everett Wendy Sue Swanson 241women were uniquely identified as role models Source: XX in Health Survey (free form responses, n=242) We have strong female role models and mentors out there
  22. PRESENTATION © 2015 ROCK HEALTH 22 Start gender diversity at the hiring process Source: XX in Health Survey (free form responses, n=171) of women felt their organizations had an objective hiring process ONLY change it 2% Workplace diversity all starts with hiring. Women just aren’t getting in the funnel, even if they are just as qualified. And if you don’t have a previous relationship or a warm introduction to the hiring manager, then you’re likely not getting the job.” “ Principal at Canaan Partners JULIE PAPANEK
  23. PRESENTATION © 2015 ROCK HEALTH 23 Note: Top 2 cited reasons for supportive organizations are mentorship opportunities and leadership programs Develop a flexible culture that is respectful of employee priorities Source: XX in Health Survey (free form responses, n=171) CEO of Wildflower Health LEAH SPARKS We have an internal document called ‘How I work’ where people write down the the time, place, and style that they work best. We want people to work the way that’s most productive for them.” “ 3# Flexibility is the third most common reason women cite for why they work at supportive and respective firms try this Both co-founders were women
  24. PRESENTATION © 2015 ROCK HEALTH 24 Level the playing field by recognizing the many ways employees add value The overall goal in the workplace is to get to a point where you evaluate people by total contribution. But to get there, you have to be open to acknowledging biases. If men are willing to speak up for and advocate work that isn’t being appreciated, it would improve equality for everyone. Organizations can do a better job of documenting all the ways an employee can contribute to the organization.” “ Professor at Wharton School of the University of Pennsylvania and author of Give and Take ADAM GRANT 15% more promotions than womenMen receive what we can do Source: “Why Men Still get More Promotions than Women” Co-authored a NYT series with Sheryl Sandberg on how to end gender discrimination
  25. PRESENTATION © 2015 ROCK HEALTH 25 Women should not be afraid to embrace risk and speak up COO of TEDMED SHIRLEY BERGIN “Embrace risk. When you fail, it’s not a reflection on who you are. It’s a reflection on the work that was done at that moment in time. Ask yourself, what’s the worst thing that can happen. Usually, the worst thing is it won’t work. If that’s the worst thing, then you need to give it a try! If you’re not going to hurt someone, then you take a risk and make it happen.” 1# The best piece of advice respondents received was to be confident, speak up, and take risks Source: XX in Health Survey (free form responses, n=269) just do it
  26. PRESENTATION © 2015 ROCK HEALTH 26 Remember, there is only one you CEO of 23andMe ANNE WOJCICKI “Life is not always fair, but you can choose how to live your life. Find your passion and pursue it. Ignore the critics and the naysayers. The only person who has to believe it's possible is you. Be bold, be brave and don't be afraid to make mistakes.” Be authentic. Know who you are and be proud of it. If you don’t have confidence in yourself and your ability to lead, no one else will." “ CEO of YWCA DARA RICHARDSON-HERON Both co-founders were women
  27. 27 ACKNOWLEDGEMENTS Thank you to all those who participated in the State of Women in Healthcare 2015 Survey! We are also very grateful for all the industry, academic, startup and venture individuals who have shared their thoughts with us. Special thank you to Adam Grant, Alondra Nelson, Anne Wojcicki, Betsy Bradley, Brian Cronin, Christine Lemke, Dara Richardson-Heron, Janet Widmann, Joanna Strober, Julie Papanek, Leah Sparks, Lisa Suennen, Lynne Chou, Mandy O’Neill, Maria Ly, Michelle Snyder, Robin Strongin, Shirley Bergin, Steph Habif , Sue Siegel, and Yael Harris for your time and insights. Last but definitely not least, we are fortunate to work with some of the most amazing women in digital health. Thank you to Emily King, Mara Perman, and Lauren White. @ROCK_HEALTH HELLO@ROCKHEALTH.COM Thank you for reading our WOMEN IN HEALTHCARE REPORT 2015!