CAH CFO-Administrator Forum: No Margin, No Mission – Strategies to Improve Hospital Net Income

On October 25, Dan Clark and Kevin Rash from FORVIS provided virtual education on improving hospital finances. 2022 was a difficult year in healthcare. Many hospitals which have been historically successful by applying the diligence needed to remain financially strong are struggling post-COVID. This session covered case studies of Critical Access Hospitals struggling with healthy margins, internal/external assessments and strategic planning, including necessary steps to prioritize current opportunities, an introduction to necessary tools for monitoring and making data-driven decisions for course correction and right-sizing, and assessing reimbursement strategies.

The 90-minute Forum also featured a roundtable discussion by CEO/CFO participants.  The group discussion was facilitated by Forum Moderator Chris Ekrem, FACHE, VP of Hospitals at EqualizeRCM.

EqualizeRCM is pleased to sponsor another relevant educational session with expert speakers for rural hospital administrators and CFOs. The 10/25 Forum focused on the following:

Reducing labor and non-labor expenses, focusing on revenue cycle key metrics, building a margin improvement plan, a review of why margin improvement needs to be at the center of strategic planning, and a case study in rural western Colorado, which showed tremendous margin improvements.

A written summary of the 10/25 Forum is available by contacting Chris Ekrem at Chris.Ekrem@CAHForum.com.