Three simple steps make up CFO Mark Flakne’s revenue growth strategy.
Mark Flakne, the new CFO of Included Health, recently shared with HealthLeaders his expertise in revenue growth strategy. Formerly OptumHealth’s CFO, during his eleven years there, Flakne played a pivotal role in transforming the organization’s financial landscape. Under his leadership, the company achieved a 28% increase in annual revenue growth taking it from $21 billion to more than $70 billion.
Flakne’s strategy to sustain revenue growth is broken down into three steps.
“The first and probably the most important is you need to have an experience that the member loves,” he said. “So if you do have a product, you know that people don't like, we all know what happens.“So for us, it's about having that experience that a member loves to use and be part of.”
The second part of this strategy is examining the question: “how can I reach more members?”
“Whether that be reaching them in more services and products in the ways that they're interacting with the healthcare system. But it's also reaching more members from other avenues. So think of the public sector or think of other market spaces, seniors, those sort of different groups of populations.”
Lastly, Flakne says, develop an appreciation and understanding of value-based care.
“I think it's about how you can participate in their arrangements to drive the right outcomes but also benefit from a financial perspective. And so it also goes to how you structure your financial arrangements.”
Be sure to check out the accompanying article too!
3 by Marie DeFreitas
Marie DeFreitas is the CFO editor for HealthLeaders.