Russ Banham
Where once healthcare CFOs were essentially entrusted with overseeing the nuts and bolts of finance and accounting, today their roles have been dramatically transformed.
Since the recession began, credit rating agencies have generally held a negative outlook on not-for-profit healthcare providers in the U.S. The Affordable Care Act has not helped.
The role of the modern hospital CFO has changed considerably in recent years. Not only do they perform a vital strategic role overseeing enterprise planning and performance, by necessity they have become more involved in the clinical aspects of healthcare.
The role of the modern hospital CFO has changed considerably in recent years. Not only do they perform a vital strategic role overseeing enterprise planning and performance, by necessity they have become more involved in the clinical aspects of healthcare.
Since the recession began, credit rating agencies have generally held a negative outlook on not-for-profit healthcare providers in the U.S. The squeeze on hospital and health system margins shows no sign of letting up.
Hospitals confront extraordinary challenges in the aftermath of a natural disaster.
Disasters, natural and man-made, threaten more than hospital property. With many healthcare information technology systems integrated and focused on patient care, the threat of an IT or communications shutdown can be both dangerous to patients and costly to the health system.
Hospitals confront extraordinary challenges in the aftermath of a natural disaster. These risks seem to have enlarged in recent years, and can shut down hospital operations, temporarily or entirely. Consequently, many hospitals have upgraded their business continuity planning.
Hospitals are just beginning to catch on to the promise of integrated data analytics to manage patient population health and measure treatment outcomes. These benefits not only assist the transition toward patient-focused care, they're helping healthcare institutions reduce associated costs.
As healthcare reimbursement shifts from a system that rewards quantity of care to quality of care, the onus is on the CFO to determine where best to allocate financial resources and how best to pare them.