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The healthcare industry is experiencing a dramatic shift in key competencies with the advent of new incentives and requirements, and new skills are needed to engineer the merger of clinical and financial priorities. Leaders must delegate risk management, case management, and medical informatics, among other priorities, while staying on course with strategic goals. Thinner margins mean that CEOs must take an active role in maintaining a healthy balance sheet. Top executives need to broaden their capabilities and serve as a bridge between clinical and financial priorities. While chief executives must provide the vision, they must also cultivate their own financial expertise while helming an executive team that is flexible and innovative in the face of rapid change, and that keeps financial self-sufficiency at the top of the priority list.
Click below to download this FREE report featuring senior executives from Rush Oak Park Hospital, St. John Hospital and Medical Center, Good Samaritan Hospital, and Bank of America Merrill Lynch.
The economics of value-based healthcare are driving individual hospitals to seek system affiliation and health systems to partner with other health systems. At the same time, healthcare executives face funding demands for capital needs, including burgeoning IT investments.
Access to capital is a critical need for the great majority of organizations, but the equations are changing; access is now predicated on expectations of margin, not just volume alone. Healthcare financial leaders must understand the fine points of different sources for funding, including banks, bonds, private equity, and philanthropic donations. They must join capital considerations with strategic planning to ready their organizations for the new era of healthcare.
Click below to download this FREE report featuring senior executives from Banner Health, Trinity Regional Health System, West Virginia United Health System, and Bank of America Merrill Lynch.