CFOs explain changing role, collaboration keyPublished: Nov. 14, 2016
While the old image of a healthcare chief financial officer centered on accounting, budgeting and overseeing the financial operations in general of a healthcare system, changes to the industry are turning that idea on its head.
As clinical quality and technological prowess now have direct effects on the financial health of a hospital, the modern CFO must have a far more overreaching set of skills to perform at the highest level in their jobs.
To illustrate that, Healthcare Finance spoke to three CFOs in the field about how they got to the top and how that role has evolved during their tenures. All of them said the job demands more strategizing, collaboration and concern over quality than ever before.
"Nebraska nice" is the phrase Jeff Francis, CFO for Methodist Health System, says people use to describe the feeling in Omaha, and it's a philosophy he said that carries over not just to neighbors but to his staff.