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Video: One CFO's Plans to Invest 'Huge' in His Rural Health System

Analysis  |  By Amanda Norris  
   January 24, 2024

Sanford Health System's new CFO will be facing challenges head on by investing in multiple areas of the business.

Low reimbursement, staffing shortages, low patient volumes, regulatory barriers, and COVID-19 disruptions all played a role in the shuttering of 136 rural hospitals between 2010 and 2021, including a record 19 closures in 2020.

Unfortunately, a lot of these challenges have not let up as rural hospitals contend with rising costs for labor, inflationary pressures, and more.

For these reasons and more, Sanford Health System, the largest rural health system in the United States, faces a unique set of financial challenges that make serving the small communities in which they operate more difficult than their larger counterparts.

To hear how Sanford’s new CFO Scott Wooten plans to address these challenges, I chatted with him on the third day in his new role. By placing a focus on its investments and long-term success and stewardship, Wooten is confident in Sanford’s financial future.

Read the full story here.

Amanda Norris is the Director of Content for HealthLeaders.

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