Healthcare Strategic CFO & Change Management Leadership Training Workshop

October 21-23, 2018, Hotel Towers Rotana Dubai | UAE

Training Objectives

In this 3 day course, you will perform the following as each relates to effective strategic financial planning in the current environment of health reforms:

  1. Assess the changing role of the healthcare CFO
  2. Analyze the impact of alternative pricing methods and propose revenue cycle management methods to improve volume and revenue levels using scenario analysis.
  3. Review the key concepts of healthcare strategic financial planning, and the relevant financial capabilities needed to achieve financial sustainability
  4. Analyze the management and leadership skills needed to succeed in the healthcare digital world
  5. Analyze the cost control tools that are critical to improving financial performance
  6. Review the CFO dashboard with a focus on the best case scenarios for key performance indicators
  7. Analyze current and forecasted year over year profit margins that pass the test of reasonableness on both a per unit basis and on a per member per month (PMPM) basis.
  8. Perform the appropriate steps in the budgeting process and link it to the process of performance measurement with multiple scenarios considering new payment methods.
  9. Apply variance analysis techniques and recommend potential areas of correction and future improvement for both fee for service and capitated business.
  10. Developing a robust Revenue Cycle Management and Cash Budgeting under VBP
  11. Analyze physician performance compared to metrics for assessing year over year innovation and growth 
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Instructor of this course

Dr. Joseph Coyne

Professor Emeritus, Department of Health Policy and Administration at Washington State University
Adjunct Professor - Executive Master of Healthcare Leadership Program at Brown University
International Healthcare Finance Professional

More Detail

In terms of the traditional view of healthcare financial management, a critical challenge is moving the industry to a state of quality of care and adding value to the patient experience is most important.   

  • We no longer think about just the ROI or EBITDA but we add the quality component in here.   
  • A key point to continue to come back to is the Triple Aim: the new healthcare world is all about improving patient access and experience while containing the cost per capita.  
  • Bodenheimer and others have written about the "Quadruple Aim" is excellent, to bring the provider into the equation. This is indeed a time when the "what if" side of the brain gets a real workout! 
  • A key takeaway question to ask is: Do you think these programs would be seen today if VBP were not in place?  I personally do not think so, yet some may debate this point and that will be for future discussions about the impact of VBP on the industry.  
  • Revenue Cycle Management (RCM) will assume greater importance as margins are reduced and efficiencies are the needed to be competitive, particularly as we move toward more capitation and risk-sharing. 
  • The biggest lesson learned in the equity investment business was “no balance sheet, no reliable ROI” 
  • Perhaps the biggest takeaway from the equity investment world is the importance of looking for viable and reliable partners or co-investors to pursue the investment in a project  
  • Financial Statements, Flow of Funds, and Payment Reforms
  •  Financial forecasting  
  • Cost Analysis Techniques
  • Pay for Performance
  • Pricing and Payment Reforms,  
  • Scenario/Sensitivity Analysis,  
  • Capitation Analysis and Risk Sharing  
  • Operating Budgets and Variance Analysis  
  • Cost Allocation
  • Revenue Cycle Management
  • Return on Investment Analysis  
  • Financial Feasibility  

This course consists of three days presented in a face-to-face format.  This course focuses on the area of financial management as applied to a variety of healthcare organizations. The emphasis in this course is to apply the principles and concepts of financial management to providers in both the investor-owned and nonprofit sectors.  

In this course, the fundamentals from the basic financial management concepts are used as a foundation for expanding our skill sets regarding managing the costs of healthcare provider organizations, both domestic and international.   The area of financial management is a body of principles and practices that govern the external reporting of historical financial results. These results are reported according to the Generally Accepted Accounting Principles (GAAP), which change over time to make it more useful for the users.  The International Financial Accounting Standards Board (IFASB) or the Government Accounting Standards Board (GASB) maintains the accounting standards.  

The major emphasis in this course is the understanding of financial trends of behavior and the flow of funds in order to improve on managerial methods of anticipating and controlling these costs and related revenues.  The context in which the financial management tools and techniques are applied includes a variety of organizational settings, including the managed care organization, the medical group, the community hospital, the home healthcare organization, the nursing home, integrated delivery systems, and multinational healthcare organizations. Emphasis in this course is on cultivating the “high performing individual” to think about collaborations for improved performance through strategic alliances across a variety of these provider types.  To accomplish this, we will provide a “tool bag” of advanced financial decision tools and techniques to plan for financial sustainability and clinical accountability.  

Since many of the financial management tools and techniques are internally focused, much of our time and effort is directed toward improving the efficiency (cost per unit) and effectiveness (goal achievement) of a particular organization.  Supplemental readings are referred to as a means of expanding our knowledge in the area of organizational performance.  This should provide directions for thinking about the numerous uses of financial management information to assist in decision making.  Each class participant is encouraged to think about how these financial tools and techniques can be used by healthcare managers to improve the “high performing organization,” both in the near term as well as in the longer term. 

Gapenski, Louis C., Pink, George H., Cases in Healthcare Finance, 5th Edition, AUPHA Press/Health Administration Press, 2014.

Healthcare Financial Management (HFM) Magazine: a monthly magazine that is helpful for up-to-date articles on health payment reforms. Available online.

The Wall Street Journal International Edition (WSJ) Dow Jones is currently offering a Flash Sale to enrolled students for a WSJ print + digital subscription for $1 for 15 weeks at Your WSJ Subscription.    

Breitner, Leslie K. and Robert N. Anthony, Essentials of Accounting, 11h Edition, Prentice Hall, 2012. 
Highly Recommended Readings: an electronic library of key articles  
Readings: Prior to the start of this course on Sunday , October 21, 2018

By Saturday, October 14th, 2018, email to the instructor a critique (200 words max per article) of three key articles from the Wall Street Journal International Edition (articles published within the current calendar year, from January 2018 to October 2018) on health payment reforms and their financial impact on health systems in the healthcare industry 

This hands-on course is designed for Senior level Finance Executives and Revenue Cycle Leaders which may be:    

  • Chief Executive Officer(with Finance Background)  
  • Chief Finance Officer  
  • General Manager  
  • Vice President  
  • Executive Director  
  • Director and all other senior professionals who are willing to improve their strategic financial planning skills 
  • Presentations & Lectures  
  • Group activities and discussions  
  • Case Studies  
  • Certificate of achievement  
  • USB with all course materials
  • International buffet Lunch with coffee/tea breaks 
  • Health Ministries
  • Health Authorities
  • Medical Cities
  • Private Hospitals
  • Medical Centers

Course Fee $2,790/Participant

Book & pay on or before Sep. 20th, 2018 & get 10% additional discount USD 2,511/participant

Group Discount
Avail 10% additional discount on minimum of 2 or more participants 

*All prices are excluding of any tax (If applicable)

Healthcare Strategic CFO & Change Management Leadership - Course Schedule

Day 1 - Sunday 21 October, 2018
Registration & Introduction

Registration and Intro

Session One

Lecture- Healthcare Strategic Financial Planning and Challenges, Achieving an effective balance between strategic needs and financial capabilities, Attaining the competency and skills needed to conduct strategic financial planning, Review of course syllabus & course logistics, case analyses and team assignment logistics

Lecture- Financial Performance Analysis using Key Performance Indicators (KPI), The CFO’s Dashboard for routine monitoring of KPI, Comparative and Trend Analysis, Review of, Case 1 – River Community Hospital (A) – Assessing Hospital Performance

1st Team Activity Case Study Analyses - Case 1 – River Community Hospital (RCA) – Assessing Hospital Performance

  • Using predictive analytics for financial forecasting - Case 31 RCA
    • Financial Forecasting
Morning Break & Networking    
Session Two

In-Class Team Activity - Case 1 - Team presentations

  • Limit & Track time of presentation to 5 min per team  
  • If time permits, Case 31 Team presentations
  • Q & A

Cost controls to achieve improved financial performance, Contribution Analysis, Break Even Analysis, Conducting What If Analysis in Pay for Performance Programs (P4P)

2nd Team Activity - Case 11- Orlando Family Physicians

  • Ask teams to select 1 or 2 leaders for Case 11    
  • Assign P4P categories to each team
Lunch Break & Networking
Session Three

Lecture- How Healthcare CFOs should prepare for healthcare reforms, P4P

Evening Break & Networking    
Session Four

Lecture- Understanding the importance of change management with health reforms—converting from volume to value  

  • Ascension Healthcare Inc. year over year analysis

Day 1 Takeaways

Day 2 - Monday 22 October, 2018
Session One

Review of Top 12 Takeaways from 2018 JP Morgan Conference

  • Review 2018 Priorities for Developing a Skill Set for leadership as a CFO

Lecture- Financial Planning and Budgeting, Variance Analysis

Morning Break & Networking    
Session Two

Lecture- Developing a robust Revenue Cycle Management (RCM) under payment reforms

3rd In- Class Team Activity - EMHL ACA case study

  • If time permits, identify/Calculate 6th Scenario
  • Ask teams to select leaders for this in-class activity
Lunch Break & Networking    
Session Three

3rd Team presentations - EMHL ACA case study  

Evening Break & Networking    
Session Four

Lecture- Return on Investment Analysis
Day 2 Takeaways

Day 3 - Tuesday 23 October, 2018
Session One

Health Financial Outlook - Standard & Poors, Moody’s, and Beckers
Lecture–Financial Feasibility Investment Analysis, Capital Asset Management 
Review of Payment Reform Critiques from pre work

  • Discuss Top 5 Critiques based on quality of critiques of key 2018 payment reform articles unique and do not duplicate articles
Morning Break & Networking    
Session Two

Individual student presentations of Top 5 Critiques

  • Limit & Track time of presentation to 5 min per presenter  
  • Q & A

Lecture- Equity Investment Analysis 

Video presentation on healthcare investment analysis

  • Toby Cosgrove, Cleveland Clinic
  • Example of International Strategic Partnerships  
  • Q & A
Lunch Break & Networking    
Session Three

4th In- Class Team Activity – Harvard Business Review case study Blood Buy Solutions

  • Ask teams to select leaders for this in-class activity
  • Ask teams to choose scenario by level of risk for future financing
Evening Break & Networking    
Session Four

4th Team presentations - EMHL Blood Buy HBR case study  

  • Limit & Track time of presentation to 5 min per team     
  • Q & A

Day 3 Takeaways
Course Takeaways –the Financial Decision “tools in your tool bag”

Summary of the course
• Closing remarks
• Certificate distribution

Course Program
Time Topic
Day 1
08:00 to 08:30Registration & Introduction
Day 1-3
08:30 to 10:00Session One
10:00 to 10:15Morning Break & Networking    
10:15 to 12:15Session Two
12:15 to 13:15Lunch Break & Networking
13:15 to 14:30Session Three
14:30 to 14:45Evening Break & Networking    
14:45 to 16:00Session Four