Top 5 Concerns of Healthcare CFOs
Planning for a HealthLeaders Media gathering of hospital and health system chief financial officers reveals the weightiest issues on their minds.
Preoccupying the minds of healthcare financial executives are prevailing problems engulfing the industry's business climate: uncertainty about healthcare reform, declining public and private reimbursement, accelerating operating expenses, and access to capital.
This August, 50 healthcare finance leaders will collaborate on fortifying their organizations' fiscal health at the 2017 HealthLeaders CFO Exchange in La Jolla, CA.
In pre-event planning calls, CFO Exchange attendees, representing integrated health systems, academic medical centers, community hospitals, and safety net providers, have mentioned some of the struggles they'd like to know how others are tackling.
During the two-day event, a series of moderated, peer-to-peer roundtables will explore how organizations are addressing the top five issues.
1. Dismantling of the Affordable Care Act
CFOs foresee the negative financial impact a repeal will generate and are interested in knowing how others are preparing for anticipated changes in Medicaid for expansion and non-expansion states.
"More than 50 percent of our payments come from Medicare and Medicaid. And in South Carolina, there is only one Exchange plan for the state and not many alternatives for the rest, so we're concerned there will be a lot of uninsured patients. In our primary market area, the uninsured shifted from five to seven percentage points from 2013 to 2016, and if the ACA goes away, we expect it to shift back."
— Elizabeth Ward, executive vice president and CFO, Tidelands Health, Georgetown, SC
"Depending on what gets changed with the ACA, it could have a huge financial impact on our system over the next five years, up to a billion dollars."
— John Grigson, senior vice president and CFO, Covenant Health/ Providence St. Joseph Health System, Lubbock, TX