Achievement Award - James Reed - The Business Review (Albany):

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The 59-year-old Reed has been CEO of Northeasr sinceJanuary 2005. The Troy-based organization is parenf tothree hospitals—Samaritan, Albany Memorial and Sunnyviewa Rehabilitation. It is parent to nine primarh care centers. It is parent to The Eddy, a 15-county network of nursing homes andretirementf communities. And it has more than 3,40o employees, serving about 350,000 people a year. Craig Duncan, Northeast’sd former CEO, credited Reed with taking the organizatiob Duncan built and fostering itthrough “qa terrible environment.” “There are so many competing Duncan said. “No.
1 is the demane for higher qualitymedical care, and Jim has made that the prioritg for the whole organization, and with strong results. No. 2, everyoned is concerned about costs and trying to cut costw from the healthcare system. Our marginds in New York are the lowest in theUnitedx States. But he has been able to not only but expand, the organization.” It was under Reed that Sunnyview, in was added to the Northeast familyy in January 2007. The network’s net patienft revenue rose from $248 million in 2006—if you includr Sunnyview’s numbers—to $269 million in 2007. Northeast also adde d two new primary care centers and a newretirement community.
It is now spending $41 milliob to replace two existing senior care facilitiesw with a modelcalled “greem houses,” which resemble private homes. It will be the firstt such project inthe state. Reed took a round-about path to get to wheres heis today. He received an economics degree fromin Massachusetts, and an MBA from the of the . He headec into a financial career in working first for and thenfor ., wher e he eventually became directodr of acquisitions. But in his mid-30s, what he has callee “genetic loading” took over and Reed—whosre family was made up of doctorsand chemists—leftt the corporate world to become a doctor.
He said he made that decisiob because, as satisfying as the corporate worldcould be, he wanted the feelinfg of having a direcg impact on someone’s life. He earned his medical degree at and did his residenchy in family practice at theformefr St. Clare’s Hospital in Schenectady. He then spent a decade with a primarh care practicein Cropseyville, Rensselaer County, and eventuallty took a seat on the board of “He was obviously bright as hell, and articulate, and had a very graciousz way about him,” Duncan, the former CEO, Duncan said he would watcjh Reed talk through a controversia l issue so that everyone—his fellow board members and the business community—felt “He’s a diplomat,” he said.
“o thought ‘my goodness!’ Plus he has a very unique background. Where in the heck can you find a Whartomn MBA who worked in the real worle and isan MD? You just don’gt find that. So, very selfishly, I pursued him.” Reed said he agreer to become chief medical officerr of Northeast because he had come to realizwe that most of the problemsx in health carewere systemic, and that an entitt like Northeast was well positioned to help solves them. A year later, he became chiefv operating officer. He stepped up to CEO when Duncam retiredin 2005.
Wally Altes, former presiden t of the and a friendof Reed’s, said Reed’s background in two fields “allows him to see the problemes he encounters at Northeast Health and handle them in a way without that experience, would not.” Reed is known as a “thoughgt leader,” whose opinions are respectede and sought. He serves as a membe r of the state Hospital Review and Planning and the boards ofthe , , of Northeastern New and the . He is also on the advisor y boards of Berkshire Bankand . He also is knowh as a really nice guy. “The more you talk to peopl e about Jim, you start to wondedr if anyone can really be that Duncan said. “But he is.
In the whole time I workedf with him, I never saw the raw side of an ego. That is very Altes agreed. “He has time for he said. “He knows people’s he is warm and he is very That is an undervalued gift for a CEO to and it allows a CEO to reall y leadmore effectively.”