The Chartis Group has conducted in-depth interviews with Chief Financial Officers (CFOs) and Chief Operating Officers (COOs) at 18 leading health systems about the current state of their organizations and identified five imperatives that organizations must address and related tactics to consider.
By applying these learnings and taking a critical lens to their own operations, executives can start to move forward on a stronger footing as they develop their own financial performance improvement strategies and tactics, tailored to their unique composition, community and organizational needs, and goals.
Health system leaders who act quickly have an opportunity to be proactive in this next phase of the crisis and build back the balance sheet. Resizing the enterprise to new volumes, restructuring costs, realigning operations and establishing the right infrastructure to support and monitor change will be required to return margin.
With learnings fresh in mind, health systems have the opportunity to take advantage of current momentum to accelerate the journey to a digitally forward mindset — one that fully and meaningfully intertwines virtual care throughout the broader care delivery system.
A handful of organizations across the country already have figured out what it takes to unlock the transformative value of APPs and are forging a path that others can follow, based on six key elements.