This article appears in the September issue of HealthLeaders magazine.
Editor's note: This piece is adapted from René Letourneau's July 22 online column, "Top 3 Headaches of Healthcare Finance Execs." To see her weekly Armchair Finance column, visit
Being responsible for the financial stewardship of a hospital or health system is becoming an increasingly difficult task as the healthcare industry prepares for full implementation of the Patient Protection and Affordable Care Act and the move toward population health management and value-based purchasing.
What do finance leaders consider to be their biggest challenges? Several executives recently told me about issues that make their jobs harder.
David Cox, CFO at Marin General Hospital, a 235-bed institution in Greenbrae, Calif., says his organization is working hard to adapt quickly to the new healthcare economy that he believes will result from reform legislation.
"We are assembling the components of a local integrated delivery system, including physician organizations, other area hospitals, and related services," Cox says. "We are moving rapidly into delegated risk contracting and aligning incentives between providers."
Cox says Marin General is also preparing for the challenges posed by new reimbursement models by working to improve outcomes and certain key metrics.