Transplant surgeon and former Senate Majority Leader Bill Frist (R-Tenn.) sees a healthcare industry in flux, driven by the need crack the “value equation” that ties cost control to outcomes. Frist signed on as co-director of a new fellowship program established by the Nashville Healthcare Council to help council members’ executives meet that challenge. Modern Healthcare reporter Beth Kutscher talked with Frist about how the fellowship program will work and the forces at work in the industry that he says created a need for it.