Teaching CFOs Value-Based Leadership
A day-long executive seminar during the Healthcare Financial Management Associations National Institute, June 24-27 in Las Vegas, will help health care chief financial officers and other top finance leaders understand not just the move toward new value-based treatment and payment methods, but also the need for them to develop value-based leadership.
A day-long executive seminar during the Healthcare Financial Management Association’s National Institute, June 24-27 in Las Vegas, will help health care chief financial officers and other top finance leaders understand not just the move toward new value-based treatment and payment methods, but also the need for them to develop “value-based leadership.”
This means having leaders who can establish the tone from the top on transitioning an organization away from a fee-for-service environment. Necessary leadership skills will include establishing reward systems, re-orienting care and patient experiences, developing teams, and improving quality while lowering costs, all of which require creating new skill sets throughout the organization, says Todd Nelson, technical director of the healthcare financial practice group at HFMA and a session co-presenter.
These are skills and strategies that senior leaders will need regardless of how the Supreme Court rules on health care reform, Nelson stresses. “We’re already seeing value-based programs in the commercial sector because that’s what employers want. That’s the direction people are going no matter what the congress, court or president does.”
A challenging change that CFOs will play a part in will be re-orienting care around the patient experience, based on patient input, Nelson says. CFOs presently are not involved in such processes and will need to learn about and use tools to assist them. “Focusing on hitting financial targets will still be important, but to move to a higher level you have to focus on more collaboration of care and on the patient being the center of care.”
The seminar, “Value-Based Leadership: People and Culture,” starts at 8 a.m. and goes until 5 p.m. on June 24.
This means having leaders who can establish the tone from the top on transitioning an organization away from a fee-for-service environment. Necessary leadership skills will include establishing reward systems, re-orienting care and patient experiences, developing teams, and improving quality while lowering costs, all of which require creating new skill sets throughout the organization, says Todd Nelson, technical director of the healthcare financial practice group at HFMA and a session co-presenter.
These are skills and strategies that senior leaders will need regardless of how the Supreme Court rules on health care reform, Nelson stresses. “We’re already seeing value-based programs in the commercial sector because that’s what employers want. That’s the direction people are going no matter what the congress, court or president does.”
A challenging change that CFOs will play a part in will be re-orienting care around the patient experience, based on patient input, Nelson says. CFOs presently are not involved in such processes and will need to learn about and use tools to assist them. “Focusing on hitting financial targets will still be important, but to move to a higher level you have to focus on more collaboration of care and on the patient being the center of care.”
The seminar, “Value-Based Leadership: People and Culture,” starts at 8 a.m. and goes until 5 p.m. on June 24.
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