Leaders face an ongoing challenge of balancing immediate business needs with future-oriented investments, especially amid rapid changes. Mary Jo Williamson, chief administrative officer of Mayo Clinic Laboratories, shares insights on this topic with Modern Healthcare’s “Healthcare Insider” podcast.

Williamson discussed Mayo Clinic Laboratories’ thorough strategic planning and vetting process for potential investments, stressing the need for alignment with core values and balancing long-term investments with immediate needs. She highlighted the importance of working with a multidisciplinary team to find a pathway that allows the organization to contribute effectively and make a significant impact on patient care, and the importance of a strong and thriving core for successful transformation.

“Change is hard, and often with major investments, change comes. But if you develop a culture of curiosity, reevaluation, thinking about how we can approach complex problems differently, it's much easier to really engage the teams,” said Williamson.

She acknowledges that not all decisions will be perfect, noting that opportunity costs must be continually assessed. This makes it critical to prepare to pivot when necessary, and it requires flexible planning to adapt to new information and experiences.

Listen to the full episode.