Becker's Healthcare September 27, 2024
Improving a health system’s margins goes beyond cost-cutting in today’s challenging healthcare landscape; it requires mastering the fundamentals and creating alignment throughout the organization.
Success begins with a disciplined approach to financial management, from daily productivity reviews to ensuring every leader understands their financial targets and how they tie into broader organizational goals. Effective communication and alignment between leadership and staff are equally critical, ensuring that everyone is moving toward the same objectives.
Here are five health system CFOs’ tips to strengthen the bottom line:
Editor’s note: Responses were lightly edited for length and clarity.
Cheryl Matejka, CFO, Mercy (St. Louis): It boils down to basic blocking and tackling in terms of financial management. I would encourage CFOs...
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