Improving Financial and Operations Performance

Abstract

Improving Financial and Operations Performance: A Healthcare Leader’s Guide lies at the intersection of leadership effectiveness, performance improvement, operations efficiency, and financial management. It is the product of extensive field work in countless healthcare provider organizations with shared insight from seasoned healthcare leaders. It is based upon five key premises: leaders are accountable for the financial performance of their organizations; financial management is a significant challenge to improving organizational performance; effective financial management skills enable effective leadership and decision-making; leaders have significant influence over their organizations’ financial performance, yet are not effectively trained or given adequate resources; and healthcare is a business–a business of caring for people with growing demands on increasingly scarce resources. The primary purpose of this work is to provide a practical and applicable approach to understanding and improving financial performance through sharing effective tips, tools, and techniques based on real world challenges. The first section of this book is relatively basic and intended for newer leaders to level-set their understanding of healthcare and financial management, while the later sections are more advanced and complex in scope. The book presents key terms and concepts in easy-to-understand language. Each major topic includes a detailed illustration of a relevant scenario with step-by-step instructions for leaders to apply within their own organizations. The book is laid out with a logical and sequential flow of information with major sections that follow the four continuous phases of the Effective Financial and Operations Management Cycle: Planning, Assessing, Managing, and Monitoring. This book was written for both new and experienced healthcare leaders who want a leg-up to better understand and successfully tackle the myriad of complex challenges within their organizations.