SELF-TEST: Do your leaders speak finance?
Answer the questions below to see how you rate.
|We always begin by first explaining “why,” (then “what” and “how”), when asking individuals to change behaviors to improve financial outcomes.:|
|Leaders, providers, and staff understand how strong financials link to quality clinical outcomes and a positive patient experience so we can live our mission.:|
|Leaders at all levels consistently demonstrate they understand the urgency of the external operating environment and are proactive in keeping pace with change.:|
|Our CFO, CMO, and CNO are aligned and collaborative in their pursuit of strategic priorities for our organization.:|
|We use objective physician performance goals weighted to create awareness, focus, or urgency to ensure accountability for clinical and financial outcomes.:|
|We have—or are moving towards—a blended compensation plan for physicians that aligns with organizational objectives and shifting reimbursement incentives.:|
|Our board of directors is well-informed about the transformation of the healthcare industry, specific financial challenges and opportunities in our market, and is closely tracking our plan to achieve goals.:|