HFMA strategy session highlights challenges and opportunities for healthcare finance leaders: payer relations, supply costs, AI and more
The legacy healthcare provider’s position in the industry could grow tenuous if leaders don’t respond boldly and strategically to ongoing trends, according to insights recently presented to HFMA leaders. “We’re at a crossroads right now,” Ashraf Shehata, principal and U.S. national sector leader for healthcare and life sciences with KPMG, said in November during a…
Healthcare Blame Game: Why CFOs should build media relationships
In a recent episode of HFMA’s “Healthcare Blame Game” podcast, Jim Heffernan, a retired CFO and current CFO emeritus of Massachusetts General Physicians Organization, shared four key pieces of advice for CFOs.
Healthcare Blame Game: TIME hits the mark, Modern Healthcare misses, and a longtime HFMA member talks about why CFOs should build media relationships
Brad speaks with retired CFO and longtime HFMA member Jim Heffernan about why CFOs should be at the forefront of telling an organization’s financial story.
Kaleida Health taps Matthew Drake and Hugh Chisholm for new roles
Two HFMA fellows have been appointed to new leadership positions at Kaleida Health, the largest healthcare provider in Western New York. Matthew Drake, FHFMA, MBA, is the health system’s new executive vice president of strategy and partnerships. Drake, a member of HFMA’s Rochester Regional Chapter, previously was Kaleida’s executive vice president and CFO. Prior to…
Dennis Dahlen: It’s time to look at what’s working — and what isn’t — in reducing care costs
There’s a surprising phenomenon taking place in Medicare spending — and it points to the need to look deeper when it comes to healthcare cost containment. For years, Medicare was viewed as the nation’s “budget buster,” with spending spiraling so quickly that some budget experts predicted no amount of tax money could sustain it. And…
Puerto Rico Chapter signs collaborative agreement
HFMA’s Puerto Rico Chapter recently joined forces with Puerto Rico’s College of Health Services Administrators to address challenges and opportunities in the field of health services administration. The relationship was made official when the two groups signed a collaborative agreement on Sept. 15 during the Chapter’s Annual Healthcare Update in Isla Verde, Puerto Rico. The…
HFMA member Michael Bumann shares experience as Burning Man medic
Thanks to unprecedented heavy rain, thousands who attended the 2023 Burning Man event Aug. 27-Sept. 4 in Nevada’s Black Rock Desert found themselves literally stuck in the mud. For HFMA member Michael Bumann, it was a transformative experience. Bumann, of Olympic Valley, California, is the founder and CEO of RedDot, a company that specializes in…
Dennis Dahlen: It’s time to stop dragging our feet on generative AI
Generative artificial intelligence (AI) is a tool that a recent study found is “nearly as good as recent med school graduates” at making clinical decisions, and it’s having a breakout year across industries, a McKinsey analysis shows.1 Yet few healthcare leaders have a strategy for solutions like ChatGPT — and it’s past time to develop…
Phoenix Children’s selects Michelle Bruhn as new CFO
Phoenix Children’s — Arizona’s only freestanding children’s hospital — recently hired Michelle Bruhn, CPA, as executive vice president and CFO. In the new position, Bruhn will oversee finance, treasury, revenue cycle and managed care contracting as well as be directly responsible for fiscal policy, performance goals and planning. Bruhn most recently served as executive vice…
HCA CFO, William Rutherford, says healthcare finance leaders should have a patient focus
To be able to consistently perform at the highest levels, health system CFOs must have a strong commitment to clear and specific guiding principles. So says William Rutherford, CPA, CFO and executive vice president of Nashville, Tennessee-based HCA Healthcare, the largest healthcare system (by gross and net revenues) in the United States. And for Rutherford,…