Chairman Douglas Hsu’s remark of “Far Eastern Memorial Hospital 34th Anniversary Celebration”

34^th Anniversary Celebration marks an important landmark for Far Eastern Memorial Hospital (“FEMH”).  Recalling 34 years ago, Founder Y. Z. Hsu decided to establish the Hospital in Banqiao to serve the local community, which is deemed, as the second homeland to Far Eastern.  During the initial opening, there were only 150 beds and 7 outpatient departments.  Now, FEMH is ranked as Medical Center with 1,000 plus beds.  It may not be a rapid growth, yet the Hospital will continue to expand steadily to a larger scale.

While taking delight in witnessing the growth of our Hospital, we all need to be reminded that the arrival of smart technology has totally revolutionized our daily lives.  People are used to connecting via their mobile devices.  Therefore, whenever a new model of mobile phone is launched, there is always a big hit.  Furthermore, wearable device has also become quite popular.  Take apple watch as an example, it helps remind users to get up to exercise, while simultaneously calculating the amount of exercise, calorie consumption, heartbeat, etc.  These seemingly simple functions are in fact convenient health management for busy modern individuals.  Living in the era of e-intelligence, and Internet of Things, every institution must become “smarter”.  If being buried in the complex process of paper works, you will eventually be ruled out by the rest of the world.

Recently, the Far Eastern Group has been working with a world-renowned consulting firm to plan the blueprint for its retail industry’s future development.  During the process, we find that each affiliate has a huge amount of data, it is not difficult to link all the data, but how to handle and analyze such enormous database and seek for vital information to establish future action plan is the issue that we need to address.  For instance, our department stores must understand the region of their major customers, the gender and age distribution of these customers, their shopping behavior and tendency, their preference of purchase and type of consumption.  Even if they prefer to dine and watch movies instead of shopping at the mall is a message worth noting.  Therefore, all future strategies must be based on these databases.  Thus, the hospital also needs to learn where their patients come from, how many outpatient visits they have, and analyze the reason for patients with frequent visits so as to know how to handle.

According to Fortune Global 500 estimate, the Far Eastern conglomerate can be ranked at top 130.  In addition to scale, facing whirling changes, we need to rethink our future vision and organization structure, how to systematically plan out strategic actions, how to transmit experience and ideals.  Lastly, we welcome the new President Dr. Fang-Yue Lin to join and lead the Far Eastern medical team to embrace a smarter and brighter future.


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