A Winning Strategy: Sustainable Clinic Growth
If done right, organizational growth can help clinics advance their mission, and be beneficial for staff members, patients, and partners alike. However, effective growth needs to be both aligned with a clinic’s strategic goals and be fiscally responsible. During this session, the group will explore the ways in which their clinics are growing (e.g. new or expanded facilities, services, satellites, staffing, etc.) and the CFO’s role in managing growth so the organization is sustainable. The group will look at growth and the CFO’s role from both a short-term and long-term perspective.
There’s No “I” in Team: Creating a Unified Force
The reasons clinics are stronger together than separately are ample: greater contracting power and economies of scale; better coordination and management of population health care; more effective sharing of best practices; ; better clinical and fiscal accountability; and more influential and unified messaging, to name a few. However, just knowing the value of coming together in a formal network does little to address the many obstacles to actually making it work. During this session, participants will explore ideas and opportunities for coordinating their efforts from the vantage point of their different position.
The Cashflow Playbook
Effectively managing cash inflow and outflow enables clinics to operate more seamlessly from month to month; decreases money owed to the clinic and increases credibility with vendors; and supports sustainability through consistently growing cash reserves over time. BKD will join the group to outline best practices for clinics around managing cash flow, building on our July conference call topic. Participants will share their own cash flow strategies with their peers, and ask questions related to issues affecting their individual clinics.
Financial Coaching: Educating and Working with Your Board
Well-functioning boards clearly understand their organization’s financial status, setting objectives and making decisions accordingly. And for many CFOs, part of their role is to inform and advise the board or a board committee on financial matters related to the organization. This session will focus on how clinic CFOs can effectively share information and work with their board. We will discuss what and how CFOs communicate financial data and status with board members, processes for sharing information, and ways in which a CFO influences the clinic’s decision-making process through its board.