Sanford Health’s Post

🔍 Financial Oversight for Healthcare Leaders 🔍 As a specialty clinic operator, understanding the pulse of your financial health is just as crucial as managing patient care. If you regularly face situations where numbers in the bank statements don't align with expectations, then you need to keep an eye on these 3 barometers for your clinic's fiscal fitness: 🗓️ Accounts Receivable Aging: Stay ahead of revenue leaks by keeping a vigilant eye on overdue balances. 📈 Profitability Ratios: These ratios are not just numbers but narratives telling you the real story behind your financial outcomes. 💰 Cash Flow Analysis: Understand the dynamics of your operational income to ensure the lifeblood of your business keeps you thriving, not just surviving. This piece isn't just a read; it's a roadmap to financial clarity and control for your clinic. I invite my fellow healthcare professionals and financial managers to dive into this discussion and share your insights. Let's bridge the gap between financial management and quality healthcare together! #healthcaremanagement #financialhealth #leadership #profitability #cashflowmanagement #accountsreceivable #healthcarefinance

🔹 Featured CFO Summit Session — The Changing Issues Faced By CFOs Managing Specialty Acute Care 🔹 Acute care services play an important role in the continuum of health care services – treating and stabilizing individuals experiencing brief but severe episodes of illness. But the financial challenges of these services have become challenging, as evidenced by the daily announcement of acute care provider bankruptcies and consolidations. Future financial sustainability requires an understanding of market drivers and strategies to reengineer the business model. Join Matthew Kuhlman, CPA, Chief Financial Officer, at Cenikor Foundation and Greg Santilli, CPA, CIA Chief Financial Officer, at Hillsides for a deep dive into: 🔹 Understanding the changing role of acute care services 🔹 Tactics for addressing workforce and price increase pressures 🔹 Integrating acute care services with value-based reimbursement Don't wait! Learn more and register today at performance.openminds.com #OMPerformance #AcuteCare #CSuite #BehavioralHealth #CFO #Finance #Leader

In an ever-changing #health and human services market, Chief Financial Officers (#CFOs) are increasingly pivotal in guiding their organizations through complex #financial landscapes. The 2024 OPEN MINDS CFO Summit served as a crucial platform for these leaders to share #strategies, #innovations, and #solutions to pressing challenges, underlining the strategic role of CFOs beyond traditional financial management. Here’s what we learned… https://lnkd.in/eNiq6SDS

Innovation and change go hand in hand!

Don't miss this insightful article about Jim Head, M&A Leader turned Healthcare CFO at MultiPlan. Learn how he navigates the balance between enhancing margins and reinvesting in the business. Check it out here: https://okt.to/njOFPw

As #healthcare leaders, optimizing revenue cycle management is critical for financial sustainability. Our new article dives into key strategies for maximizing revenue, mitigating risks, and achieving long-term financial stability. Click here to gain valuable insights and best practices for optimizing your RCM: https://ow.ly/84hG50RaEtE #YESHIMConsulting #RCM #FinancialPerformance #HealthcareLeadership #RevenueCycle #HealthcareFinance #RevenueManagement #CashFlow #HealthcareRevenueCycle

Chatting with Andy Dawson reminded me of something in business that happens around this time of the year, that sent a shudder down my spine… It has many names but the outcome is always the same.. find that saving and make it happen however you can, we’ve got to come in on budget for the FY. In my previous roles it was typically a mix of; ➖ AHT reduction what can we stop saying/doing for our customers ➖IVR changes/implementation - how can we avoid that conversation and automate ➖ Quick & dirty upskill session to drive “multi skilled advisors aka can handle more demand ➖ In some cases it was a name(s) in a box of roles that might not be needed! It was an emotionally strained time, attempting to balance the needs of your team and people, desperately wanting to protect the customer experience whilst having to justify and commit to savings to the CFO. I am not saying those initiatives are bad or should be avoided, what I am saying is the process is flawed - it’s short sighted and seeking short term gain (if you could even call it that!) So why not seek those sustainable savings, review the way you work and how you speak to your customers… I’d love to speak to you, the team and I can support you to meet your short term of objectives sure, but we’d prefer to spend the time making sustainable long term improvements that typically yield 20% realisation. It’s what we do, what we’ve all known and we all have those scars! Mark Turner Jane Fisher Gary Kinsella Louise Farrell #cfotech #benefitsrealisation #operationalexcellence #midtermplanning #budgets #peoplefirst #culture

"You have to be transparent in the good, the bad and ugly that takes place in enabling those strategic objectives," said Michael Restuccia during a discussion on the critical relationship between hashtag #healthcareit and finance. "You're only as good as your last project." https://lnkd.in/eHaj_buy Charles Podesta Kelly Summers, CHCIO, CDH-E hashtag #itleadership hashtag #leadershipinaction hashtag #leadershipexcellence hashtag #itbudget hashtag #strategicplanning hashtag #cioleadership

As #healthcare leaders, optimizing revenue cycle management is critical for financial sustainability. Our new article dives into key strategies for maximizing revenue, mitigating risks, and achieving long-term financial stability. Click here to gain valuable insights and best practices for optimizing your RCM: https://ow.ly/cOW850RaEtF #YESHIMConsulting #RCM #FinancialPerformance #HealthcareLeadership #RevenueCycle #HealthcareFinance #RevenueManagement #CashFlow #HealthcareRevenueCycle

As #healthcare leaders, optimizing revenue cycle management is critical for financial sustainability. Our new article dives into key strategies for maximizing revenue, mitigating risks, and achieving long-term financial stability. Click here to gain valuable insights and best practices for optimizing your RCM: https://ow.ly/FHl550RaEtH #YESHIMConsulting #RCM #FinancialPerformance #HealthcareLeadership #RevenueCycle #HealthcareFinance #RevenueManagement #CashFlow #HealthcareRevenueCycle