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1 week ago | 
healthleadersmedia.com | Marie Defreitas
Attendees at this week’s HealthLeaders CFO Exchange are addressing how they confront mounting financial and operational pressures, from labor shortages to unions to recruitment. Persistent workforce shortages and rising wage pressures are forcing CFOs to rethink staffing modelsUnions and recruitment of high quality nurses are two concerns. Members agreed that in order to succeed with recruitment, engaging and supporting the community is vital.
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1 week ago | 
healthleadersmedia.com | Marie Defreitas
How are CFOs preparing the future finance leaders? The HealthLeaders CFO Exchange took place this past week in Amelia Island, Florida. The CFO role has shifted to include over system oversight than ever. CFOs need to understand the leadership qualities that they must instill in their successors. Attendees at last week’s HealthLeaders CFO Exchange has one clear take-away: The CFO’s role is changing, and they had better be prepared to evolve with it.
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1 week ago | 
healthleadersmedia.com | Marie Defreitas
How do the two models compare? CFO turnover has reached a three-year high of 22% as more CFOs retire, leave their positions, or even leave the industry entirely. To address the turnover problem, some organizations are turning to fractional CFOs.When deciding whether to use a fractional vs. traditional CFO, there are a few key considerations health systems should examine.
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1 week ago | 
healthleadersmedia.com | Marie Defreitas
CFOs are meeting in Florida this week at HealthLeaders’ annual event to discuss the top challenges facing health systems. Among the top challenges facing CFOs these days are workforce shortages, evolving technologies, policy uncertainty, and market disruptors.
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1 week ago | 
healthleadersmedia.com | Marie Defreitas
The Trump administration's threat of Medicaid cuts is causing chaos. While Republican lawmakers insist they do not intend to cut the program, some of their proposals have the potential to block grants, raise hospital taxes, enforce per-capita caps, reduce the federal match for the ACA Medicaid expansion, and impose work requirements. How are CFOs reacting to this threat? Some healthcare executives are voicing their thoughts online on the potential Medicaid cuts.
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2 weeks ago | 
healthleadersmedia.com | Marie Defreitas
The Trump administration’s threat of Medicaid cuts is causing chaos. While Republican lawmakers insist they do not intend to cut the program, some of their proposals have the potential to block grants, raise hospital taxes, enforce per-capita caps, reduce the federal match for the ACA Medicaid expansion, and impose work requirements. How are CFOs reacting to this threat? Some healthcare executives are voicing their thoughts online on the potential Medicaid cuts.
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2 weeks ago | 
healthleadersmedia.com | Marie Defreitas
This collaborative mindset should stretch to all clinical staff, especially with the continuing workforce shortage. One study projects a shortage of up to 3.2 million healthcare workers by 2026. Sound recruitment and retention strategies will make a difference, and competitive compensation is certainly a component. At AdventHealth, workers are offered a variety of support tools and programs, including a student loan repayment program and tuition assistance.
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2 weeks ago | 
healthleadersmedia.com | Marie Defreitas
Collaboration and training are two ingredients for a successful cybersecurity strategy. The Change Healthcare cyberattack showed healthcare what can happen if outdated software isn’t kept current. Laurie Beyer, CFO of Greater Baltimore Medical Center, shares what she learned when her organization had cyberattack in 2020. The Change Healthcare cyberattack caused more damage to the healthcare industry than any previous attack, and the industry is still recovering.
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2 weeks ago | 
healthleadersmedia.com | Marie Defreitas
For CFOs, isolated decision making is a strategy of the past. Laurie Beyer, CFO of Greater Baltimore Medical Center, has over 25 years of experience in finance and healthcare. She knows what goes into successful operational strategies, it’s close-knit collaborations that CFOs need to be a present for. Being in tune with the strategy of the organization and everyone involved in it helps CFOs make the most informed decisions and deploy resources where necessary.
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3 weeks ago | 
healthleadersmedia.com | Marie Defreitas
A different type of CFO model is growing in popularity as health systems face high turnover rates. CFO turnover has reached a three-year high of 22% as more CFOs retire, leave their positions, or even leave the industry entirely. When deciding whether to use a fractional vs traditional CFO, there are a few key considerations health systems should examine.
