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Healthcare financial execs: COVID-19 responses

3 panelists describe the innovative thinking required

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Pretty doctor discusses X-ray image online with her patient Besides COVID-19-prompted pivots in expenditure, telemedicine, automation and employee work locations, a panel of healthcare financial executives discussed their work to project optimism, communicate honestly, collaborate remotely, and maintain relationships and culture.

The executives represented three health systems that have required innovative leadership through the many months of the public health crisis. They described impacts on operational priorities and strategic directions, and their responses to support their employees and make previously unimaginable decisions for sustainability. They have looked to the future in accelerating tech adoptions, slowing risk and vulnerabilities, rethinking capital investments, and accommodating both work-at-home and on-premise staff.

Stephen ThomeStephen Thome, principal, Grant Thornton Healthcare Advisory Services, moderated the panel of senior financial executives reporting on how their organizations are managing through the COVID-19 crisis. The three executives were Matt Cox, CFO of Spectrum Health System in Grand Rapids, Mich.; Fred Hargett, executive vice-president of Novant Health in Charlotte, N.C.; and Keith Kasper, CFO of PennMedicine in Philadelphia, Pa. The panel was a session in the Healthcare Financial Management Association (HFMA) Large Systems Controller Council Virtual Fall Meeting in October 2020.

Download and read the entire HFMA article, “Navigating the unimaginable: A COVID-19 panel discussion with senior financial executives.”

Contact:

Stephen ThomeStephen Thome
Principal, Healthcare Advisory Services
T + 1 216 858 3553