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A
Welcome to Advancing Health. Being a doctor, both at the bedside and around the boardroom table, often means channeling two different skill sets. And as we hear in this podcast, a successful physician leader must learn how to bridge the gaps in knowledge, exposure, and experience needed to cross the bridge from clinical practice to leadership and master the art of social capital along the way.
B
Hi, everyone. Welcome to this episode of our podcast. I'm Dr. Chris Durienzo, and it is my true honor to welcome a longtime mentor and friend to the podcast, Dr. Tom Lee. Dr. Lee is not only the Chief Medical Officer of Press Ganey, he's the editor in Chief of NAJM Catalyst. He's a practicing primary care doc. Got to know him many years ago through connections in the Asheville area. Tom is here to talk to us today about the intersection of social Capital and the AHA's Physician Leadership Framework, which was just published. Tom, thank you so much again for joining us.
C
I'm delighted to be here, Chris, and every time I talk with you, I learn stuff, too.
B
Likewise, sir. As we get started, it would be good to note for listeners that the paper that I'm referencing, AHA's Physician Leadership Framework, it was published in Nagm Catalyst earlier this year. We have links available to it and so you can read it at will. But as at its core, has been a challenge that we've wrestled with for some time, which is there's a gap between what we know it takes to be an excellent clinician, an outstanding bedside physician, and what it takes to become an outstanding physician leader. And, Tom, that's a gap that you've explored for decades, not only in your research, but also as the editor in Chief of NAGM Catalyst.
C
Yeah, and these questions are interesting. I mean, they're core to our jobs, but we have to actually deal with those situations where working hard is not enough, where it's not clear exactly what we should do. How do you figure out what we should do and how do we do it? That is the nature of the jobs of being a physician leader today.
B
Working harder is something we've relied on for a long time in healthcare. We have thought that we need a hero, and there are absolutely heroes in healthcare. But your construct of social capital is one that I think we should explore for listeners of the podcast, because the way it intersects with the bridges that we built in that framework, I think are not only interesting, but important. Perhaps you could just take a moment for listeners who aren't yet familiar with social capital to give them a sense of what it means and how do.
C
We Develop it well, the concepts aren't really new or foreign, and they're going to feel very comfortable to everyone listening to this podcast. The difference is framing it in a way where we approach it in a tough minded, businesslike way. You know, capital is anything that helps you improve. It helps you be better than your competitors, help you be better than yourself next year. Financial capital are the financial resources that enable you to do things you couldn't otherwise do. Human capital are the people with the expertise around you that help you do things you couldn't otherwise do. But social capital is how those people work with each other and with their infrastructure that enables you to do things you couldn't otherwise do. Social capital is based upon currencies like trust and respect and teamwork. These are things we're all for, but building them as opposed to just being grateful when we have them. That's what I'm suggesting we ought to all be doing. Getting tough minded like the CFO is about financial capital and building teamwork and trust and high reliability. I think we can do that work and I don't think it will be annoying. I think it will make our lives better.
B
Not only make our lives better, but lead to better outcomes. In order to get there, though, that requires some intentionality. Relying on working harder is in some ways a simple answer. But reconfiguring a system to enable teamwork to enable high reliability, I love the way that you frame that. It's like a book that I read recently by the person who founded Panera, that there are things that emerge from the system. Profits emerge from a high functioning system that is differentiated against other folks operating in that market. You describe teamwork and high reliability as secondary effects of high functioning social capital. Am I getting that right?
C
Very much so. But to really have a great team, many of us have been on great teams and we know it took work to get there. It takes sacrifice, sacrifice of some of your autonomy to get there. It means having norms, behavioral norms, and enforcement mechanisms for the norms so that if someone isn't being a good team member, they hear about it. We don't just say anything. I mean, just very recently, one of my colleagues was saying in the emergency department, you can see everything. You can see who's behaving like a jerk. And he said, do we say anything? And he said, hardly ever. But if you're being tough minded about social capital, you give your colleagues feedback. I know that's uncomfortable, but getting into that kind of culture where people give each other feedback on what will make us all Better collectively for our patients and for the way we feel coming to work. That is what we're talking about here.
B
And it's foundationally a different way of thinking than sometimes we would historically apply to physician training. I like to describe for folks that in the medical education world world, we are taught to sit on top of a pyramid, and there's a whole lot of weight that sits on our shoulders. The order carries our signature. Our professional license is on the line for the decisions that we make, the patients and their families, outcomes we are personally responsible for. And when that's the world that you've lived in for decades and you envision the pyramid this way, it's pretty hard to invert it. Many folks do, but. But it strikes me that leading teams in healthcare and the getting to the right side of the framework that we described in our paper is fully grounded in that construct of social capital that we have to realize that we may be an expert in the things in which we are expert, but that doesn't make us an expert in everything.
C
Well, instead of picturing pyramids, what I'd encourage our audience to think about is think about social network diagrams. You know, a web of nodes, Some people right in the middle of things connected to everyone, some people just on the edges, you know, maybe loosely connected, if at all. And the truth of the matter is, we're all in social networks. And social capital means making those social networks more effective, making them stronger, making the connections real among everyone and making them compelling, and then spreading the right norms and values across those connections so that the team can be more effective, and so the teams can interact so that the organization can be more effective. It is real work, but it's cool work, actually.
B
It can be fun. And it strikes me that for a long time, physician leaders have somewhat informally relied on that social capital to accrete some of the knowledge that it takes to move from outstanding practicing physician to outstanding physician leader. I'll give you one example. I don't have an MBA or an mha. I learned about EBITDA from my cfo. And ebitda, which, for those who don't yet know, is a commonly used finance abbreviation for earnings before interest, depreciation, taxes, and amortization. And when I was in my first C suite level role as a physician leader, that CFO sat down with me every month and walked through our income statement and our balance sheet. So I not only accreted knowledge, and in the framework we describe sort of three gaps. There's a knowledge gap, but then there's an exposure gap. We have to get exposed to how that applies in a hospital and health system. And then ultimately, in order to be able to own that skill set, we need some experience and being accountable for it. And for me, my CFO was a node in that network who was willing to sit down and share with me enough. I'm never going to refinance bonds, but I know enough now to be a competent operator. And you're exactly right. That is a outcome of social capital.
C
And I think that the framework that you recently wrote about, breaking down the types of work it takes is a great framework. And I admire your clear thinking. And it's so much more sophisticated than the advice I was thinking about, which is telling the audience, go watch the TV show the Pit and the HBO show about the emergency department and watch how over the course of season one, the 15 episodes, the relationships that get stronger and stronger among the people down in the emergency department together, where people are ready to do whatever it takes. They're not thinking about their job description. They're doing whatever it takes. They're actually building social capital, including the part where they're sitting on a park bench sharing beer from a cooler and next to the last episode of the season. So even though they make a big joke about Press Ganey in the first 10 minutes, and despite that start, it's a fantastic show that captures something what leaders and who are physicians can do and should do.
B
And that's the kind of experience that I think we are accustomed to clinically having some folks have shared. You know, it gets lonely because you're used to when you're an neonatologist like me, a primary care doc like you, an ER doc, a trauma doc, you get this team camaraderie that builds when you go through those kinds of really hard things together. It's a different kind of a team. When you're sitting around the health system CEOs table, because frequently you're the last doctor left at the party, unless the CEO also happens to be a doctor. And it takes a different degree of intentionality to find ways to connect and as you pointed out, crucially, to build some informal opportunities to relate to each other as people.
C
Well, you know, actually, I have an article that will be coming out soon with Ali Koroga, a physician who's the CEO at Children's Mercy Hospital in Kansas City. And what we write about is how the way clinicians think it may be very appropriate for the kind of management challenges that we face in healthcare today. Because clinicians like us, you know, we're used to complex situations where the right thing to do may not be clear, but we try things and we get some data and we modify things and, you know, we iterate and we're constantly gathering information. Now, that kind of approach to complex patients, for example, that may be more the right thing for complex problems like overcrowded hospitals, overcrowded emergency departments flow through a system more so than complicated management strategies, you know, complicated tasks. There's many people must do many things, but it's pretty clear everyone's got a job. Do your job, you need that kind of approach to. But that only takes you so far with the kind of complex challenges we have today. So I do think that thinking like a clinician, Ali and I have an article coming up very soon making the case. Yeah, we need to do that more in our management life, too.
B
I look forward to reading that. And if anything, Tom, looking back over the papers you've written, many have a degree of foresight that one historically might only apply to Nostradamus. And I'd like to close on one of those quotes. This was from 10 years ago. You wrote in the New England Journal of Medicine that we believe social capital is likely to be even more important than financial capital in the era ahead. After all, one can go to the bank to borrow money, but there is nowhere to go to borrow. Trust, teamwork, reliability, and the desire to innovate and improve. You said that 10 years ago. It feels just as relevant today. But I wanted to give you just a chance to share with listeners a closing thought.
C
Thanks, Chris. And I do still feel that way, and even more so because I'm not naive about money, but I know the limits of what money can do. You can get money from the outside, but you can't get teamwork and trust and high reliability and safety. You've got to build that from the inside. And our organizations are not going to differentiate themselves from other organizations on the basis of who can borrow the most money. They're not going to differentiate themselves on the basis of who has the best AI. You know, you've got to be competitive and all these things. But where we'll differentiate ourselves is how we work together. That will enable us to hold on to great employees and that will enable us to hold on to our patients as well. So I really think that focusing on social capital, how we work together, that is every bit as strategic and really more so than financial capital issues alone.
B
Healthcare is and will always be a uniquely human experience. And in the words of Tom Lee, you can buy things, but you can't buy trust. You've got to build it. Thank you so much for spending time with us on the podcast, Tom. It is really one of the honors of my career.
A
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Podcast: Advancing Health
Episode: You Can’t Buy Trust: Social Capital and the Physician Leader
Host: Dr. Chris Durienzo (B)
Guest: Dr. Tom Lee (C), Chief Medical Officer of Press Ganey, Editor-in-Chief of NEJM Catalyst
Date: December 3, 2025
This episode centers on the essential role of social capital in elevating physician leaders and bridging the know-how gap between clinical expertise and healthcare leadership. Dr. Tom Lee shares insights from his decades of experience, discussing why trust, teamwork, and relationships are irreplaceable assets for physician leaders—assets that cannot be purchased or outsourced, but must be intentionally built and maintained.
What is Social Capital?
Unlike financial or human capital, social capital comprises the relationships, trust, and shared norms that make a team or organization function more effectively.
"Social capital is how those people work with each other and with their infrastructure that enables you to do things you couldn't otherwise do. Social capital is based upon currencies like trust and respect and teamwork."
— Dr. Tom Lee [02:44]
Intentional Approach:
Building social capital requires the same intentionality and rigor as financial management.
"Building them, as opposed to just being grateful when we have them... getting tough minded like the CFO is about financial capital and building teamwork and trust and high reliability."
— Dr. Tom Lee [03:27]
Not Just a By-product:
Outcomes such as teamwork and high reliability flow from robust social capital, not directly from trying harder.
"You describe teamwork and high reliability as secondary effects of high functioning social capital. Am I getting that right?"
— Dr. Chris Durienzo [04:21]
"Very much so... It takes sacrifice... having norms, behavioral norms, and enforcement mechanisms."
— Dr. Tom Lee [04:44]
Shifting Away from Heroism:
Medicine traditionally encourages "heroic" individual action. In leadership, the focus shifts to distributed expertise, feedback, and enforcing team norms.
"We may be an expert in the things in which we are expert, but that doesn't make us an expert in everything."
— Dr. Chris Durienzo [06:37]
From Pyramid to Network:
The mental model should move from hierarchies (pyramids) to networks (webs of relationships), enhancing connectivity, shared values, and team effectiveness.
"Think about social network diagrams... making connections real among everyone and making them compelling."
— Dr. Tom Lee [06:50]
Learning Across Disciplines:
Dr. Durienzo shares how his CFO mentored him on financial concepts, illustrating that real-world leadership develops through exposure and experience, not just knowledge.
"My CFO was a node in that network who was willing to sit down and share with me enough... to be a competent operator. ... That is a outcome of social capital."
— Dr. Chris Durienzo [08:34]
Depictions in Media and Real Life:
Dr. Lee points to TV dramas like "The Pit" as examples of how social capital builds over time through shared experiences and informal bonds.
"They're actually building social capital, including the part where they're sitting on a park bench sharing beer from a cooler..."
— Dr. Tom Lee [09:31]
Camaraderie in the C-Suite:
The transition from clinical teams to executive roles can feel isolating.
"It's a different kind of a team. When you're sitting around the health system CEOs table, ... it takes a different degree of intentionality to find ways to connect"
— Dr. Chris Durienzo [10:31]
Clinician Mindset in Management:
The iterative, adaptive mindset of clinicians is well-suited to tackling complex management challenges, such as overcrowded hospitals, where solutions are not always clear-cut.
"Thinking like a clinician... may be more the right thing for complex problems... we need to do that more in our management life, too."
— Dr. Tom Lee [11:41]
On Social Capital’s Strategic Value:
"You can go to the bank to borrow money, but there is nowhere to go to borrow. Trust, teamwork, reliability, and the desire to innovate and improve."
— Dr. Tom Lee [12:42] (Original quote from NEJM, revisited)
On What Sets Healthcare Organizations Apart:
"Our organizations are not going to differentiate themselves... on the basis of who can borrow the most money... where we'll differentiate ourselves is how we work together."
— Dr. Tom Lee [13:22]
On the Non-negotiable Human Element:
"Healthcare is and will always be a uniquely human experience. ... You can buy things, but you can't buy trust. You've got to build it."
— Dr. Chris Durienzo [14:05]