The Greater Washington area has a long history of influential business leaders powering the growth of our region and the strength of their communities. On December 5, the Washington Business Hall of Fame will welcome five such leaders to receive our region’s signature lifetime business achievement award. The Hall of Fame brings these visionaries (the best in business) to the table with the next generation of leaders (the next in business), through an experience that connects and inspires us all.
The 2023 Hall of Fame Laureates are no strangers to media coverage. If you live in the Washington region, chances are you’ve seen their names in headlines for years. What you may not have witnessed is these trailblazers telling their stories in their own words. That’s what this series brings you – the insights, lessons and life advice that these Laureates have to offer based on a lifetime of success.
Washington’s best in business:
KURT D. NEWMAN, MD
Dr. Kurt Newman was President and CEO of Children's National Hospital in Washington, DC, which is currently ranked No. 5 nationally by U.S. News & World Report. Dr. Newman is a surgeon and a recognized leader in pediatric healthcare nationally. He is also the author of a 2017 best-selling medical memoir, Healing Children: A Surgeon’s Stories from the Frontiers of Pediatric Medicine. His full Hall of Fame Laureate biography is available here.
Read on to learn about the mentor that changed the way Dr. Newman led, the medical breakthroughs that he believes are near on the horizon and a life-changing habit that he encourages students to implement.
KURT D. NEWMAN, MD
PRESIDENT AND CEO (retired)
What is the hardest job you have ever done?
Dr. Kurt Newman: Before I was the CEO of Children’s National Hospital, I spent over 25 years as a pediatric surgeon there. I took care of many children, often during very challenging situations. The hardest part of that job was when I needed to share that a child’s disease or injury was life-threatening, and that we did not have the medicines or tools to provide a solution.
This experience was my motivation to create the Sheikh Zayed Institute for Pediatric Surgical Innovation at Children’s National so that we could deliver new technology and cures designed specifically for children. The goal of the Institute is to make surgery more precise, less invasive and pain-free, and I am so proud of the progress we have made.
Did you have a mentor? If so, who was it, and how did they impact your career trajectory?
Dr. Kurt Newman: Joe Robert was the founder of JER Partners and was an incredible businessman and philanthropist. He had an enormous impact on me as a leader.
Joe taught me to dream big, especially when it came to a vision supported by philanthropy. I’d come to him with a modest idea that was basically incremental and tinkering at the edges. That, however, was not the kind of guy Joe was. When I would give him a plan like that, he would rip it up. He would say, "Come back to me with a big idea. Think beyond what you know. Think about the huge impact you can have on kids." That approach of shooting for the stars is one I carried with me during my nearly 12 years as CEO of Children’s National.
“I would encourage students to become voracious readers. Increasingly, we are all distracted by our phones and quick bites of information, but that is very different from reading a good book. I think the stories and knowledge gained from reading is foundational to success, not just in business, but in life.”
What is one thing you want the Greater Washington business community to know about your company?
Dr. Kurt Newman: I hope the business community sees that a great children’s hospital is an incredible asset to our region and nation, and that as a non-profit it deserves strong support and investment.
As businesses are trying to recruit and retain top talent to this region, a top five children’s hospital is an excellent selling point. Families come from around the world to access the expertise at Children’s National Hospital, which makes it very meaningful that families in our area don’t have to leave Washington and can access this premiere level of care right here at home.
Increasingly, the Children’s National Research Institute is becoming an important contributor to the region’s economic strength and is a major source of job creation. We are one of the largest private employers in the region with almost 9,000 employees, and our scientists are securing multimillion-dollar federal research grants as well as creating startup companies based on their discoveries. The partnership we have with Johnson & Johnson Innovation – JLABS @ Washington, DC, is a first of its kind for children and will host up to 40 companies at our new innovation campus at Walter Reed.
If you could choose one person to have dinner with, living or dead, who would it be and why?
Dr. Kurt Newman: I have always been inspired by Nelson Mandela, the former president of South Africa. People know that he was imprisoned for 27 years. Somehow, he managed to emerge from that experience as an inspiring leader. I would love to understand how he managed to stay so optimistic in the face of such adversity.
“With the discoveries being made now with genetics, imaging, brain function and data science, I truly believe we are on the cusp of breakthroughs in preventing and curing behavioral and mental health issues early in life or even before birth.”
What should students be doing today to help prepare them for a successful tomorrow?
Dr. Kurt Newman: I would encourage students to become voracious readers. Grab whatever book captures your interest and dig in and read for fun. Increasingly, we are all distracted by our phones and quick bites of information, but that is very different from reading a good book. I think the stories and knowledge gained from reading is foundational to success, not just in business, but in life.
If you had to pitch a new business concept today, what would it be and why?
Dr. Kurt Newman: With the discoveries being made now in genetics, imaging, brain function and data science, I truly believe that we are on the cusp of breakthroughs in preventing and curing behavioral and mental health issues early in life or even before birth. For example, one of our scientists has developed a technology that can diagnose the impact of a mother’s depression on the brain development of her fetus. The big idea is to diagnose and treat the mother’s depression, thereby preserving the optimal brain development of the child. Think about what that means for the long-term impact for that child.
The benefits of applying these types of breakthroughs to solving issues like autism, depression or anorexia are so compelling and the return on investment for kids, families and our society is inescapable. It’s a dream to create a business that accelerates the delivery of this science to the children and families who are at risk.
You’re invited to support Dr. Kurt Newman’s induction into the Washington Business Hall of Fame. All proceeds benefit Junior Achievement of Greater Washington’s work to prepare local students to be ready for the future.