For many hospital CFOs today, the healthcare financial environment might feel like Wheel of Fortune. Stiff competition requires their organizations to be at the top of their game; there are numerous different components needed to solve their daily puzzles; and if things go awry, "bankruptcy" could be only a spin away.
1. Take board meetings seriously
2. Stay connected to the community
3. Make capital planning a big priority
4. Be diligent in payor negotiations
5. Work closely with physicians and clinicians by breaking out of silos
6. Be flexible, and support the hospital's overall mission