Mount Sinai Health System
Careers at Mount Sinai Health System
MISSION
Mount Sinai Health System Inc (“Mount Sinai”) seeks to provide compassionate patient care with seamless coordination and to advance medicine through education, research, and outreach across the communities it serves.
FOUNDING STORY
Mount Sinai has its roots in a single hospital founded in 1852 and opened to the public in 1855 under the name The Jews’ Hospital.
In 1864, the hospital rebranded itself as non-sectarian, later changing its name to reflect this change of direction in 1866 to The Mount Sinai Hospital.
Mount Sinai was initially staffed by untrained male and female attendants. In 1881, however, the hospital established a training school for nurses, seeking to strengthen its workforce. The hospital has since established a long history as a training hospital.
In 1963 the hospital chartered The Mount Sinai School of Medicine (now the Icahn School of Medicine at Mount Sinai), which opened to students in 1968. In 1971, it failed to secure a partnership with City College of New York failed, sinking the hospital into financial difficulties.
The charter, however, was later taken up by The Mount Sinai Hospital School of Continuing Education in Nursing, founded in 1975.
Mount Sinai expanded throughout the twentieth century, including through affiliate agreements.
In 2013, the company merged its operations with those of Continuum Health Partners Inc, itself the result of a 1997 merger between the Beth Israel Medical Centre and St Luke’s-Roosevelt Hospital Centre.
Mount Sinai and Continuum Health Partners Inc completed the unification of their brands under Mount Sinai in 2014.
Mount Sinai is now one of the largest health system operators in the US. Its operations are structured around eight hospital campuses and include more than 6,600 primary and specialty care physicians.
In the 2017-2018 fiscal year, Mount Sinai employed more than 39,000 people and its medical school operated 33 multidisciplinary research, educational, and clinical institutes.
Business model of Mount Sinai Health System
Customer Segments
Mount Sinai provides health and medical services to the general consumer population.
Through its various hospitals and medical centres, the company treats a wide range of conditions, including patients across the following categories:
- Primary Care, including patients suffering from emergency injuries and acute illnesses through its hospitals and clinics;
- Specialty Care, including patients requiring palliative care, or specialist treatment for conditions such as diabetes and cancer through the company’s specialist medical facilities;
- Other, including patients suffering from other illnesses, such as chronic diseases.
Mount Sinai operates eight hospital campuses and 13 joint venture centres across the US, concentrated in the New York metropolitan area.
The company does not appear to have any significant international operations.
Value Propositions
Mount Sinai provides value to its patients and customers in the following ways:
- Reputation and Track Record – Mount Sinai has an established track record in the US healthcare sector that dates back to the nineteenth century, and a well-known brand name that instils trust and comfort among its patients;
- Quality Care and Services – Mount Sinai’s reputation is dependent on its ability to provide high quality medical services and care to its patients, the company developing and maintaining high quality facilities and cutting-edge technologies across its network of hospitals;
- Commitment to Research and Innovation – Mount Sinai is committed to research and development activities, seeking to identify effective new treatments and care methods through clinical trials and testing conducted at it medical school; and
- Experience and Expertise – Mount Sinai has an experienced workforce comprising specialised physicians, nurses, and other clinical staff who have undergone extensive training and screening before being employed.
Channels
Mount Sinai provides its care and services directly to customers through its network of hospitals, clinics, and affiliates in the US.
The company’s health system comprises eight member hospitals, six affiliate hospitals, four nursing home and long-term care facilities, and numerous physician practices, primarily in the New York metropolitan area and also in Palm Beach, Florida.
These medical facilities are staffed by a workforce of thousands of physicians, nurses, and other clinical staff who offer services directly to patients.
Mount Sinai accepts patients primarily as walk-ins at its various facilities. It also allows customers to book appointments through its website at www.mountsinai.org.
Customer Relationships
Mount Sinai seeks to establish longstanding relationships with patients by providing high-quality, reliable, and efficient services across its facilities.
The company instils trust among its patients through the expertise and experience of its medical practitioners and clinical staff, who work closely with patients, providing treatment and advice, handling questions, and providing in-person assistance.
Through its website, Mount Sinai provides information to patients on a self-service basis.
The company notably offers a ‘find a doctor’ through which patients can find an appropriate doctor located close to their home, or a nearby medical facility. Mount Sinai also offers information on its services, leadership, and network.
Mount Sinai is additionally able to communicate directly with customers through its various social media accounts, including with LinkedIn, Facebook, Twitter, YouTube, Instagram, and Pinterest, as well as through its a blog hosted on its own website.
Key Activities
Mount Sinai operates a network of hospitals and medical centres, primarily in the New York metropolitan area.
Through its various facilities, the company provides a range of medical services, including treatment in the areas of cancer, dermatology, emergency medicine, heart care, liver care, pulmonology, neurology, neurosurgery, obstetrics and gynaecology, ophthalmology, palliative care, primary care, psychiatry, rheumatology, urgent care, and urology aspects, among others.
The company was established in its current form in 2013 by way of a merger. Mount Sinai is headquartered in New York, where the bulk of its facilities are also located.
The company additionally has a medical practice in Palm Beach, Florida.
Key Partners
Mount Sinai works closely with a network of partners in order to ensure that it is able to provide high quality, cutting-edge services to its patients.
These partners can be organised broadly into the following categories:
- Supplier and Vendor Partners, comprising suppliers of medical equipment, medicines and drugs, and other medical supplies, as well as third-party providers that offer services in support of the company’s more general corporate activities;
- Research and Academic Partners, comprising research institutions, academic institutions, and medical companies, with which the company collaborates on research and innovation projects through its medical school;
- Insurance and Government Partners, including government bodies and state medical programs, as well as insurance companies, with which the company works to provide care to its patients;
- Joint Venture Partners, comprising various medical and health system operators with which the company operates clinics and medical facilities jointly through mutually owned vehicles;
- Affiliate and Clinical Partners, comprising other health system operators and healthcare service providers with which the company collaborates in providing medical services, including through affiliate clinics and facilities; and
- Diagnostic and Technology Partners, comprising a range of technology companies and specialist diagnostic companies that provide systems through which the company can make accurate, data-driven diagnoses.
Among its current network of partner companies and organisations, Mount Sinai includes AllerGenis LLC, the Business Council for International Understanding, and Taikang Healthcare.
The company’s affiliate partners include The Brooklyn Hospital Centre, Jupiter Medical Centre, and Queens Hospital Centre.
Key Resources
Mount Sinai’s business model is dependent on its ability to provide high quality care and healthcare services to patients through efficient and modern medical facilities.
As such, the company’s key resources are its network of hospitals and medical centres – including its affiliate facilities, its medical equipment and supplies, its supply chain, its research and development facilities, its partnerships, and its personnel – including its clinical staff and its research personnel.
In particular, Mount Sinai’s physical properties and facilities are key to its operations.
The company operates eight hospitals, six hospital affiliates, four nursing homes and long term care facilities, and numerous physician practices.
The company is also dependent on the quality of its personnel, notably its medical staff who number in the thousands.
Cost Structure
Mount Sinai incurs costs in relation to the operation of its network of hospitals and clinics – including occupancy and utility costs, the procurement of medical supplies and equipment, the procurement of third-party services, the implementation of research and clinical trials, the management of its partnerships, the payment of salaries and benefits to its personnel, and the maintenance of its IT and communications infrastructure. Mount Sinai is a privately-held company and as such it is not obliged to publish its financial results online.
Revenue Streams
Mount Sinai generates revenue through the provision of health acre services through its network of hospitals and clinics in the US.
The company derives its revenue primarily in the form of medical fees charged to patients, family members, insurance companies, and government health systems.
As noted above, the company does not publish its financial results online.
Forbes, however, lists the company as generating annual revenue totaling USD 7.08 billion in 2016.
Our team
info: Kenneth L. Davis (“Davis”) was named President and Chief Executive Officer at Mount Sinai in September 2013 following the merger with Continuum Health Partners Inc. Prior to this appointment, Davis served for ten years as President and Chief Executive Officer of The Mount Sinai Medical Centre, where he led a significant financial turnaround. Davis is responsible for leading the company’s overall strategic direction. Davis has also served the Icahn School of Medicine since 1979, where he has held numerous roles, including spells as Dean and Chair of the Department of Psychiatry. He continues to serve as the school’s Professor of Psychiatry and Pharmacology. Davis has also been employed by the Stanford Psychiatric Clinical Research Centre at Veterans Administration Medical Centre since 1975, where he served initially as Assistant Director. He is now the medical centre’s Director of the Alzheimer’s Disease Research Centre. Davis began his career in 1973 as an intern at Stanford University School of Medicine. He later served as a psychiatry resident and a clinical pharmacology fellow at the hospital.
info: Donald Scanlon (“Scanlon”) was appointed Chief Financial Officer and Chief of Corporate Services at Mount Sinai in 2013, following its reorganisation and merger with Continuum Health Partners Inc. He previously served as Executive Vice President and Chief Financial Officer at The Mount Sinai Medical Centre for ten years. Scanlon is responsible for overseeing the company’s financial management operations, including its accounting and tax units. Scanlon has been a Certified Public Accountant in New York State since 1987, and is a member of the American Institute of Certified Public Accountants, and a member of the New York State Society of Certified Public Accountants. He began his career as an Audit Manager at Deloitte and Touche, where he focused on health care clients. He has since held a number of executive positions within the healthcare sector, including a spell as Senior Vice President of Finance at New York Presbyterian Hospital and Health System.
info: Margaret Pastuszko (“Pastuszko”) serves as Chief Strategy and Information Officer at Mount Sinai. She is responsible for overseeing the development, coordination, and implementation of the company’s overall strategic vision. Pastuszko first joined the Icahn School of Medicine in 2001 as Associate Dean of Operations, following which she served as Vice President for Business Planning at The Mount Sinai Medical Centre. Prior to joining Mount Sinai, Pastuszko worked as a consultant specialising in strategic planning, first at APM Management Consultants and later at medical specialist CSC Healthcare Consulting.
