…And We’re Back! After Brief Hiatus Healthcare Finance Leaders Gather in Charming Downtown Charleston to Reunite & Strategize for the Future
By Jennifer Holmes on May 30, 2022
While the healthcare industry will remain under extraordinary amounts of pressure for years to come, it must be recognized that healthcare finance leaders across the US experienced remarkable achievements in response to the tremendous challenges sparked by COVID-19. Systems across the country reinvented processes and adopted new capabilities to better manage finances during the most complex storm of variables in recent history.
After a difficult hiatus from in-person gatherings, IPMI reunited finance executives from large hospital and health systems across the country to reflect on achievements made and lessons learned through what has been – to put it lightly – a challenging chapter.
And there was a lot to unpack over the two-and-a-half days…
With ongoing changes to clinical and operational business models, variations in workplace structure, the staffing shortages crisis, impacts on wage inflation, and a greater emphasis on consumers and virtual care, the program hit the ground running on Sunday, April 10th to address how healthcare finance executives are continuing to evolve strategies to tackle the disruption.
Successful navigation through ongoing complexities will depend on how leadership teams collaborate, which was a key theme of the 2022 program. We were fortunate to feature perspectives from CEOs to discuss building and maintaining a strategic alliance with CFOs, hearing from impressive leaders Karen Teitelbaum, President & CEO of Sinai Chicago and Robin Wittenstein, CEO of Denver Health, for an interactive panel discussion moderated by Former CEO of Nationwide Children’s Hospital Steve Allen.
To address priorities within culture, retention and employee experience, we brought in perspectives from Chief People Officer Colleen Browne for an exemplary session alongside Chief Financial Officer Debra Cartwright, both of LMH Health.
Hospitals must also focus on the ongoing improvement and management of the revenue cycle to maintain cash flow and financial health. To address how to adapt to regulatory changes, emerging payment models, healthcare consumerism and health reform, the agenda provided a platform to leaders within the Revenue Cycle for an interactive fireside chat, creating a safe space for the audience to exchange questions and comments with the experts.
Looking beyond internal health system perspectives to get a big-picture sense of the state of Healthcare in the US, the attendees were fortunate to hear from Harvard economist Michael E. Chernew to share his assessment of the fiscal challenges facing the American health care system overall, and likely policy responses related to Medicare programming and commercial markets.
At the end of the day, however, the primary goal of the Healthcare Finance Institute is to create a supportive networking environment for Finance executives to foster information exchange and best practices amongst each other. Sparking this exchange and setting the tone for attendees to openly share insights was a panel discussion led by prominent CFOs in the field from Marshfield Clinic, Deaconess Health System and Mayo Clinic.
Taking a break from the general session room, attendees engaged in a series of interactive Think Tank discussions on a wide range of topics, including how to improve margin ROI, why CFO involvement in consumer financial experience is imperative, how enterprise automation can drive measurable impact, and how to leverage cloud technology.
Outside of the day’s activities, the Sunday dinner function kicked-off with a Keynote presentation from renowned cybersecurity and fraud prevention expert, bestselling author and subject of Catch Me If You Can, Frank Abagnale. The audience received an in-depth, insider’s knowledge of the critically important topic of identity management and received an up-close look at the life of Frank Abagnale. The session incorporated the opportunity for audiences to directly interact with Frank through an extensive, deep-dive Q&A, with a standing ovation to conclude!
The program was certainly a reunion like no other, capable only through the quality of the speaker faculty, high levels of discussion amongst an impressive group of attendees, the unmatched southern hospitality of the beautiful Charleston Place Hotel, and the reveled energy of knowing that once again we can safely network in-person.
Attendees left feeling refreshed and renewed after an incredibly valuable and memorable experience.
IPMI would like to extend a heartfelt thank you to our esteemed Speaker Faculty, 2022 Advisory Committee, Service Provider Partners, and Attending Delegation.
The 2023 iteration of the Healthcare Finance Institute will take place April 2nd – 4th, 2022 at the Ritz Carlton Amelia Island, FL.
To contribute to the next Healthcare Finance Institute whether sharing some insights and experiences as a member of the Speaker Faculty, suggesting topic areas for the agenda or joining the waiting list for attendance, please contact Jennifer Holmes at email@example.com