6 steps for defining hospital finance to meet today’s pressures and patient needs
Finance functions do not typically make the list of innovations being pursued at hospitals and health systems. In fact, given the stereotype of finance teams having a laser focus on cutting costs and finance leaders being the “no” people, this function is at times perceived as a barrier to innovation. While finance teams must necessarily…
Robin Damschroder: Healthcare finance’s growth gives rise to new leadership roles
Over the years, the role of hospital CFOs has expanded profoundly. Back in 1946, when the HFMA was born as the American Association of Hospital Accountants, the highest titles for healthcare finance leaders were comptroller, controller or business manager.a Not so anymore. New titles have emerged with the increasing complexity of the finance function as…
How academic medical centers can foster greater alignment to advance strategic goals
The highly complex funds flow and diverse partnership structures of today’s academic medical centers (AMCs) make it difficult for leaders to align on important financial decisions. However, the evolution to value-based care and ongoing revenue challenges have inspired them to consider new approaches. As activity within AMCs continue to evolve, CFOs will play an important…
‘The responsibility is to work together’: HFMA’s Jordan, other healthcare leaders discuss how stakeholders are navigating turbulent times
With a new presidential administration bringing the potential for drastic changes and emotions about the industry running high, significant strain is on healthcare leaders. The best response is to search for opportunities to collaborate in the promotion of patient-centered policies, according to insights from a Jan. 24 conference hosted by the University of Miami’s Herbert…
New year, new roles for 4 HFMA members
Four HFMA members began 2025 in new healthcare leadership positions. Melinda Hancock is new CFO at Sentara Health Sentara Health has named Melinda Hancock, FHFMA, MBA, CPA, as the health system’s new executive vice president and CFO. Hancock, of Richmond, Va., joined Sentara in 2021 and most recently served as the system’s executive vice president…
First Illinois scores big with new event
HFMA’s First Illinois Chapter has provided more than $150,000 in scholarship funds to members and their children seeking higher education. The primary source of funding for the scholarships is the Chapter’s annual golf outing. When it came time to plan the 2024 event, however, they decided to switch things up a bit. What was different…
Jill Geisler: 10 ways to tell if you’re a successful leader
Wouldn’t you like to know — with certainty — that your team truly values the way you lead and manage? It can be hard to determine. Your organization may conduct engagement surveys, but even those might not give you a clear answer. Engagement scores can be affected by economic downturns or corporate changes beyond your…
Marc B. Scher: Embracing strategic leadership in the face of intense pressures
One theme I’m hearing coming out of the J.P. Morgan (JPM) Healthcare Conference and recent HFMA chapter conferences is strategic leadership. It’s a concept that Harvard Business Review describes as understanding yourself, your organization’s goals and the situation at hand, and bringing the appropriate expertise to bear to support success.a For healthcare finance leaders navigating…
Inside HFMA: HFMA’s small group Executive Councils meet to solve big problems
HFMA Executive Councils are communities of thought leaders who meet regularly to address challenges and network in job-specific groups. They seek HFMA’s support to delve into understanding the current state of the healthcare finance industry and their respective focus areas. and they look to HFMA to provide them with aggregate data that can help them…
Healthcare’s leadership challenge: balancing immediate needs with future readiness
Amid rising financial challenges and pressures to maintain high standards of care, a survey of healthcare finance professionals suggests leaders are more focused on directing resources toward financial sustainability strategies and compliance than innovation. The findings raise concern that leaders are overemphasizing financial viability and regulatory compliance over investments that could transform care delivery and…