CFO Exchange: Top Execs Talk Strategy
At HealthLeaders Media's third annual CFO Exchange, chief financial officers from hospitals and health systems across the country discussed cost reduction strategies and the impact of HIT initiatives on the revenue cycle.
What do senior finance executives talk about when they meet with their peers from other facilities, away from the daily demands of leading their healthcare organizations through reform-era turbulence? Cost-reduction strategies. The fate of health insurance exchanges. HIT projects.
Thirty seven chief financial officers from some of the most innovative health systems and hospitals around the country have gathered at the Broadmoor in Colorado Springs for HealthLeaders Media's third annual CFO Exchange from Aug. 14-16.
In roundtable discussions held Thursday morning, the senior finance executives discussed a range of topics and trends, including new cost reduction strategies, the impact on the revenue cycle of IT initiatives and EMR systems, changing reimbursement structures, the clinical shift from a volume to a value-based business model, and the uncertainty surrounding health reform.
When it comes to the Patient Protection and Affordable Care Act, Mark Bogen, senior vice president and CFO at South Nassau Communities Hospital, in Oceanside, NY, says he is skeptical that health insurance exchanges will deliver on the financial promise of decreasing bad debt and providing more insurance coverage to low-income healthcare consumers.