Hospital Finance, Quality Team Up for Better Profit Margins
Finance finds new motivation
From her perspective as a quality executive, Larkin appreciates the skill set that the finance team brings to the discussion.
"Just having the financial people at the table is amazing. They do bring a different value to the table because they are so analytical when they ask questions of the clinical folks… They are learning, and the clinicians are rethinking what they are doing," Larkin says.
As healthcare reform legislation unfolds and impacts the bottom line, the finance leaders at Barnabas have a new motivation for engaging with the quality department's efforts, and that's a good thing, Larkin says.
"I am so positive because I've seen the shift, and I think 'thank goodness.' We are going to be able to come together to improve care," she says. "Finance people are much more interested now in the process of care and how it impacts patients… This is where we are going to be able to change healthcare. This is going to be the transformational part."
Larkin says that as with any initiative, it is imperative to find a few senior-level champions to support the idea of integrating finance and quality within an institution.
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