CEO vs. Owner of a business…

PainCare Front

Dr. Michael J. O’Connell is both owner and CEO of PainCare, the largest pain management business in New Hampshire.  He thought it appropriate to define his dual roles and contrast/compare them.

“Unlike CEOs of hospitals or other healthcare institutions, I have not only the responsibility of ‘reading the tea leaves’ of the healthcare industry, but developing appropriate strategies, making informed decisions, leading, motivating, envisioning, and executing.  If a CEO screws up in any one of these responsibilities, disaster can result but he/she has the option of leaving the organization, or alternatively being relieved by a Board.  It is therefore arguable, that the CEO has no fiduciary responsibility.”

An owner has no such luxury whatsoever.  “The owner holds the ultimate responsibility…the purse strings, the financing, the invested dollars.  This is not a responsibility one can walk away from.” Dr. Michael O’Connell is quick to point out that if more CEOs had real ‘skin in the game,’ companies, especially non-profit companies, would be run differently. “Its so much easier spending OPM…..other people’s money.”

About Dr. Michael J. O'Connell, New Hampshire
Dr. Michael J. O'Connell of Barrington, New Hampshire, has forged a distinguished career spanning over three decades, as entrepreneur, physician, businessman, philanthropist and healthcare consultant. As former owner, administrator and CEO of a 225+ employee multi-specialty medical practice, Dr. O'Connell has dedicated his entire professional life to helping patients with family medicine and especially those experiencing chronic pain and all aspects of addiction. Since selling his family of healthcare businesses, he has never once contemplated retirement despite his rich and fulfilling journey, but instead has turned his focus to consulting in an industry starved for courage and creativity. Having weathered many political, technological and legal challenges, there is hardly a storm he has not confronted, a tempest he has not quelled, an urgent need he has not met. While the talking heads and self-proclaimed experts in the field have assumed the conventions and standards of the times, Dr. O'Connell does not believe in merely reflecting the herd mentality, but rather in leading the charge. Eschewing political correctness, Dr. O'Connell says and does what needs saying and doing, and not what the mindless masses expect. In addition to the continual education afforded by his variegated life experiences, Dr O'Connell earned his BS in Biochemistry at the University of NH in 1975, his Medical Degree from Dartmouth College in 1981, interned at Walter Reed Medical Center in 1982, Residency/Fellowship at UCSF in1986, and finished his Masters in Healthcare Administration at UNH in 1995. Dr. O’Connell enjoys many outdoor activities, including rock climbing, snowboarding, hiking, and golf. Through the decades Dr. O'Connell has supported many non-profit charities to include the St. Charles Home in Rochester NH, the Tri City VNA and Hospice, Hyder House, and Cocheco Valley Humane Society. To the latter organization alone Dr. O'Connell has donated over $180,000 and pledged another $250,000 in the “Bring-Us-Home” campaign for a new building. His “Matching Donations Christmas drive” has generated over $175,000 in charitable giving from the community. In addition Dr. O'Connell has participated in many dozens of other volunteer and donation efforts locally as well as in Africa and the Dominican Republic. For a listing of how I gave back to the community during my career and continue to do see: https://michaeloconnellmdnh.wordpress.com/

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