On Demand Webinar | Advanced | Financial Leadership
This session will present an effective process for assessing physician financial performance from an operational strategic standpoint. The speakers will share a defined process to manage physician financial performance, including how to use...
On Demand Webinar | Update | Financial Leadership
This presentation will provide an overview of the major implications of the changing environment for health system strategy, with a particular focus on how broader consumer-focused trends, already in motion, will be impacted in the aftermat...
On Demand Webinar | Overview | Financial Leadership
The linkage between nursing care and patient outcomes is widely accepted, yet it is often difficult to achieve an evidence-based allocation of nursing resources that is understood and accepted by all. Join representatives from HFMA, AONL, a...
On Demand Webinar | Basic | Financial Leadership
Learn about strategies to evaluate waste versus cost with the patient experience in mind. You'll learn about Virginia Mason's areas of focus that have contributed favorably to the health system's margin.&nbsp;<div><br></div><div>Original Li...
On Demand Webinar | Intermediate | Financial Leadership
The use of adjusted discharges as a metric of output to assess facilitywide productivity and efficiency is flawed and leads to invalid conclusions. It does not account for the increasing volume and complexity of outpatient procedures. Durin...
How To | Financial Leadership

Tips for creating a more ethical culture in healthcare

How To | Financial Leadership

Tips for creating a more ethical culture in healthcare

Main article: Beyond compliance: Healthcare CFOs face many situations in which ethics can guide decision-making

Experts offer the following suggestions for how CFOs can create a more ethical culture in their organizations.

Set an example in the C-suite. Ethical CFOs can encourage better behavior among their colleagues, including the CEO, by modeling appropriate conduct and accepting accountability, leaders say. At the same time, CFOs should exhibit zero tolerance for unethical behavior, former CFO Aaron Beam says. “When you set your ethical standard below perfect and you rationalize that a little bit of cheating is okay, you’re getting on a slippery slope,” he said. People tend to have a herd mentality, and unethical behavior, especially at the top, has a way of polluting the company culture, he added.

Create a “speak up” culture wherein staff can report problems without fear of retribution. That’s what Michael Szubski strives to do with his finance team at University Hospitals. “It’s incredibly important to make people feel safe and comfortable identifying issues,” he said. CFOs should use open forums with staff to emphasize the importance of speaking up and should reinforce how leaders are expected to behave if an issue is identified.

Make your compliance department an ally to help your team act ethically. “Look at us as a resource that helps you,” said Christine Hogan-Newgren of The University of Kansas Health System. For example, at a prior organization, her compliance team helped finance leaders avoid unethical relationships by reviewing new physician contracts to make sure the arrangements complied with Stark Law.

Extend transparency to patients. Transparency can help support an ethical culture, and that includes being open with patients. Starting in 2020, Greater Hudson Valley Health System will allow patients to view physician notes in their electronic health record. “Ethically, it’s the right thing to do,” said CFO James Grigg, who believes finance leaders have an ethical obligation to ensure their organizations provide patient-centered care.

About the Author

Laura Hegwer

is a healthcare writer and content strategist based in
Lake Bluff, Ill. (laura@vitalcomgroup.com).


Related Articles | Financial Leadership

Article | Revenue Cycle Technology

Providing modern, adaptable Revenue Cycle Management technology

A healthcare technology company provides details about its adaptable revenue cycle management technology, which helps enterprise customers optimize financial performance.

Blog | hfma:content/topic/payment-reimbursement-and-managed-care/physician-payment-and-reimbursment

How physicians, hospitals and health systems should prepare for the operational and financial impact of 2021 E/M code changes

In this Q&A, Craig Joseph, MD, chief medical officer for Nordic Consulting Partners, provides insight into why physicians, hospitals and health systems should pay attention to new E/M coding guideline changes are going into effect on January 1, 2021.

Blog | Payment, Reimbursement, and Managed Care

Continued growth in employer-paid healthcare premiums may spur employers to find alternative solutions

HFMA's Chad Mulvany says large employers have signaled a possible end to their patience for traditional players to provide a traditional solution, and he reviews what solutions they could pursue instead.

News | Coronavirus

Updated reporting requirements for the CARES Act Provider Relief Fund: What providers need to know

New HHS guidance on reporting obligations for CARES Act Provider Relief Fund recipients could prove troublesome for providers that are caught off guard by the changes.