Make Your Job Easier, Understand What Your CFO Expects
Trey Malone has dedicated his career to understanding the intricacies of healthcare finance and teaching others how to understand the subject. He is able to adapt his language and terminology to explain complex issues to clinical and operational leadership, executive leadership and accounting and financial staff by meeting the students where they are in their knowledge of healthcare finance. Trey has led decision support as well as operational departments in healthcare and currently works with clinical and operational leaders, those who aspire to be in healthcare leadership, and healthcare administration students to build their healthcare finance and analysis skills in order to prepare them for the financial responsibilities of leading their departments and organizations.
During this hour you will begin to learn how to prepare and deliver financial information related to your department to the executives of your organization, and particularly the Chief Financial Officer (CFO). When explaining complicated phenomena related to the operations or financial performance of your department the first 60 seconds is key. You will earn how to start the conversation in a way that leads to positive discourse, as well as the appropriate level of detail to include in your presentation. This webinar will also provide specific examples of the information your CFO expects you to regularly monitor so that you may know the answers to his questions before he even asks. When you can demonstrate to your CFO that you have control of your department’s financial performance it makes both of your jobs far easier and can actually yield trust that reduces the level of scrutiny of your department.
After attending this series, you will begin to stand out to the senior leadership of your organization as someone who is confident and competent in her role. Some leaders in healthcare do not understand what their CFO expects and try to convince themselves that it isn’t important to learn these skills. “That’s what accountants are for,” they say, even while knowing they themselves are responsible for the financial performance of their department. By taking this course you are proving that you do not hide from things you do not understand, but learn new skills until a weakness becomes another one of your strengths.
- How to prepare and deliver financial information related to your department to the executives of your organization, and particularly the Chief Financial Officer (CFO)
- How to gain the trust of your CFO in order to reduce the level of scrutiny of your department and make both of your jobs easier
- How to start conversations about financial performance in a way that leads to positive discourse
- How to know the appropriate level of detail to include in an analysis in order to relay the point without generating more new questions than answers
- The information your CFO expects you to regularly monitor so that you may know the answers to his questions before he even asks
Course Level - Intermediate
Who Should Attend
- Nursing supervisors, managers, directors, and VPs
- Therapy supervisors, managers, directors, and VPs
- Radiology supervisors, managers, directors, and VPs
- Other clinical and operational supervisors, managers, directors, and VPs
- Healthcare administration students
Why Should You Attend
In healthcare, great clinicians and operations professionals are often promoted to leadership positions with little or no preparation for the financial responsibilities these roles entail. Many clinics and hospital departments have hundreds of thousands or millions of dollars in revenue and expenses. Your CFO holds you accountable for the financial performance of your department, but it seems like the two of you speak different languages. How can you relate to him and demonstrate your aptitude for the financial responsibilities of running your department? What information does he expect you to monitor on a daily, weekly and monthly basis? Most importantly, how should you present information to your CFO in a way that answers his questions without requiring multiple meetings, phone calls, and emails in order to save time for both of you? Join this webinar in order to find out.