Hyper Collaboration and Compassion in Healthcare Leadership w/ Funso Olufade, PhD, MBA

In this episode, we pop the hood and look at the engine of healthcare from the perspective of a pharmaceutical CFO, exploring patient-centered care and the power of hyper-collaboration to make a difference in not only the lives of our patients, but our co-workers and stakeholders alike.

Dr. Funso Olufade, PhD, MBA is a healthcare finance leader and pharmaceutical executive. He has held roles in various roles at various multi-national companies with the quest of improving global patient access to medicines. Funso holds a Ph.D. in Health Sciences from Seton Hall University, an MBA in Finance, and a Bachelor of Science degree in Economics from Rutgers University.

Funso is also a member of the American College of Healthcare Executives of New Jersey (ACHENJ) and Chairs the Diversity and Inclusion Committee. He is the founder and Managing Director of Devoted Skies, a non-profit organization bridging the healthcare disparity gap in developing countries.

Funso Olufade Ph.D, MBA links:

https://www.linkedin.com/in/funsoolufade/

https://devotedskies.org/

Music Credit:

Jason Shaw from www.Audionautix.com

THE IMPERFECT SHOW NOTES

To help make this podcast more accessible to those who are hearing impaired or those who like to read rather than listen to podcasts, we’d love to offer polished show notes. However, Swift Healthcare is in its first year. 

What we can offer currently are these imperfect show notes. The transcription is far from perfect. But hopefully it’s close enough - even with the errors - to give those who aren’t able or inclined to audio interviews a way to participate.  Please enjoy!

Hyper-Collaboration and Compassion are Key to Healthcare Leadership

[00:00:00 ] Patrick Swift, PhD, MBA, FACHE: [00:00:00 ] Welcome folks to another episode of the Swift healthcare video podcast. I'm Patrick Swift, your host. I'm delighted that you're here and I have a fantastic guest for us today. I am delighted to welcome. Funso welcome to the show.

[00:00:13 ] Funso Olufade, PhD, MBA: [00:00:13 ] Thank you so much, Patrick. Very, truly an honor to be joining you on the podcast, delighted, .

[00:00:18 ]Patrick Swift, PhD, MBA, FACHE: [00:00:18 ] Thank you for being here for the zone. And I'm delighted to share for our listeners today. Celebrates an email I got yesterday that this podcast is ranked in the top healthcare leadership podcast from feed spot. So I want to give a kudos to feed spot, and I want to thank our listeners and viewers.

[00:00:33 ]. And let me tell you about our wonderful guest  . Funso Olofade is a healthcare finance leader. He's a chief financial officer and he's a pharmaceutical executive he's held roles in various multinational companies with a quest of improving global patient access to medicines. What a novel idea, someone committed to improving.

[00:00:57 ] Uh, access to global to [00:01:00 ] medicines, um, Funso , uh, holds a PhD in health sciences from Seton hall university go Seton hall, an MBA in finance. Of course you'd want to have an MBA in finance as a CFO and a bachelor of science degree in economics from Rutgers university. And I'd also say he has a heart of gold.

[00:01:16 ] I know him personally, and he's got a heart of gold. Suunto is a member of the American college of healthcare executives of New Jersey and chairs, the diversity inclusion committee. And he's also a founding and managing director of devoted skies, a nonprofit organization bridging the healthcare disparity gap in developing countries.

[00:01:35 ] We're going to talk about all this and Funso welcome to the show.

[00:01:38 ] Funso Olufade, PhD, MBA: [00:01:38 ] now. Thank you again, Patrick. Congratulations on the Feedspot  recognition. This is great.

[00:01:43 ]Patrick Swift, PhD, MBA, FACHE: [00:01:43 ] Let's get to it. So, um, what are you up to these days? I want to start with that.

[00:01:48 ] Funso Olufade, PhD, MBA: [00:01:48 ] Fantastic. Thank you. Thank you. It's a, again, truly an honor to be sharing this with you. Believe it or not. , it's, , you know, staying who I am, , maintaining, , this, this long journey and continue the adherence that it takes [00:02:00 ] to, , continue to provide, , global patient access to medicines, , in the world of COVID.

[00:02:04 ] I think everyone, , as struggled in balancing being a professional. Being a parent and also being teachers of our children at home too. So that challenge in the last year, I think we can all relate to. And that is really been my, my journey. , that's where I am, , every now and then I sit back and just still reflect on kind of the modern day challenges that we have in healthcare.

[00:02:26 ] Right. How can we create this integrated, , patient journey? , from diagnostics to, , how patients pay for medicines and they care themselves. , how does drug development evolved, , at a fastest speed? , we saw what happened with COVID, , drug development that used to take us years. Seven years happened, , when a matter of nine months.

[00:02:45 ] So all of these healthcare, , modern challenges as I call it, , it's things I like  to tinker on and, , you know, continue to find ways contribute to, to advance them.

[00:02:54 ] Patrick Swift, PhD, MBA, FACHE: [00:02:54 ] Hmm. Funso and you're the first chief financial officer [00:03:00 ] in pharma on the show and, you know, finance and healthcare is not sexy. And I, here's a great opportunity to hear from someone who we can pop the hood and healthcare. We can look, look under the hood of what's going on in healthcare and what is giving you joy?

[00:03:16 ] And the work that you're doing in pharma that relates to CFO activities, but where's the joy. And what can our listeners learn about what the joy is in the work that you're doing for the company you're working for and what you're doing for, for, uh, access to medicine.

[00:03:29 ] Funso Olufade, PhD, MBA: [00:03:29 ] great. Great, great questions. Um, honestly, the analogy I give people is that, uh, you know, people like to say Benchside . To bedside. That's what happens in healthcare for scientists, at least, uh, because I started in a cubicle as a finance person, I figured I still had a longer way to go to get to the bedside.

[00:03:48 ] It's all about patients and the humanizing care delivery. That's really what healthcare is all about. So even as a CFO, what I try to do is to find ways where [00:04:00 ] all of my efforts and inputs can make that patient experience a lot better. These are our relatives. These are our friends, these are our community members.

[00:04:11 ] So what can I do in that journey to make sure that the patient experience is better? That is really, uh, what I embark on every day. And again, it's very rewarding. I tell a quick story here. Uh, the first time, , when I met a patient, , I was on a flight, , going from,  , New Jersey to, to California. And one of the air stewardess, , was driving the cart and  stopped near me, I was sitting in business class, , of course, , much earlier in my career days.

[00:04:38 ] And, , you know, approached me and said  at that. Hey, Mr. Bigshot, how did you get to sit in this business class row? And I said, well, now it's not me. It is my company that afforded me this row. So, so great. What company do you work for? So I paused and I shared at what point company that makes a drug and you probably don't know anyone with this disease is very, very [00:05:00 ] debilitating. , the stores, no, tell me more. I want to know about this disease. So Ms. Multiple sclerosis is a really, really debilitating disease and, , what we have a disease modifying therapies and people don't get to live long once they're diagnosed with this disease, but we have a medicine again that slows the progression, and this is how patients get to live normal lives.

[00:05:20 ] Patrick Swift, PhD, MBA, FACHE: [00:05:20 ] Outstanding,

[00:05:21 ] Funso Olufade, PhD, MBA: [00:05:21 ] So as soon as she walked away, she came back to me to tell me that you don't think I know anyone with Ms, but I am actually an Ms. Patient. And the drug that you just described is what I'm on . And that's still what enables me to be able to function. So from that moment, , Patrick, and that moment, Patrick, I've realized that staying close to the patient is really what transforms everything we do in health care and challenges, decisions we've made and how we get a therapist in the marketplace, , on a daily basis.

[00:05:51 ] Patrick Swift, PhD, MBA, FACHE: [00:05:51 ] oh  . That's, that's such a sweet story for them. So it's, it's a sweet story because you're, you're a CFO that talks about patient experience. [00:06:00 ] You also got asked by a stewardess, what are you doing in first class? And, um, there are diversity equity considerations there. If I were sitting in first class, the stewardess, wouldn't be asking me, what am I doing there?

[00:06:13 ] You got to ask that. And how did you respond? You responded with heart and it brings tears to my eyes because you. Focused on the cure of the patient and you're helping her. And that is the heart of healthcare. And I'm sorry to get teared up, but that's the power of, of what we can do in healthcare. I'm just so proud of you that you responded with.

[00:06:35 ] Well, this is how I serve and she responded with, Oh, I'm benefiting from that. That's beautiful. And it's just so dharmic and, and, and, and joyous in the work we do. So thank you for sharing that story. And I want to move to your professional journey. Um, what was this like for you personally? Uh, I'd love for you to share where yo