Metrics of Leadership
In an era where average tenure with the same employer barely tops the five-year mark, time is an important metric. But Tom Wander’s story goes well beyond length of service as BETA’s CEO. His vision and impact on the organization and the healthcare liability insurance arena have been extraordinary.
One of BETA’s first moves under Tom’s leadership in 1993 was the creation of an in-house risk management fund for member facilities. These funds signaled BETA’s commitment to each facility while ensuring that each member took ownership of the programs they created. Tom believed by having those on the frontline of patient care define what’s needed, the results would have greater impact. It’s a philosophy he has carried forward in shaping BETA programs and guiding its expanded service scope.
The best-selling business author and management guru Jim Collins champions the value of leaders following a 15-mile march—a steady, planned growth versus erratic cycles of growth—and inevitable decline. Tom’s vision for BETA has followed this focused approach and, in turn, generated remarkable and sustainable results not thought possible within the tumultuous healthcare arena.
- Assets have grown from $140M to $500M
- $95M in returned dividends
- 100% increase in member facilities
- Covered physicians have grown from 574 to 5,254
Growth and expansion can be challenging frontiers to navigate, especially in a business involving patient care, cutting edge medical treatments and critical life and death decisions. Achieving these milestones while also maintaining the highest business standards is doubly challenging. During Tom’s tenure, he was successful in obtaining BETA’s first A.M. Best A− (Excellent) rating which the company has maintained since 1997. The BETA team has launched and set the gold standard for healthcare liability insurers in risk management within obstetrics, emergency department and other critical care areas. The partnerships forged between BETA and our members/insureds are unique within the industry—a true partnership that places patient safety front and center.
Perhaps most telling of Tom’s leadership success is his ability to find and retain the best talent in the business. Today, the average employee tenure at BETA is nearly 10 years, well above the industry average and a direct reflection of Tom’s efforts to foster a culture of teamwork and accountability. Together, under Tom’s guidance and leadership, our team will continue to deliver the best coverage, pricing and service to healthcare providers throughout California.