industry roundtable: executive briefing

CFO Panel: The Road to Recovery

The Current and Future Impact of COVID-19 on Health System Finances

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Strata recently convened an industry roundtable of finance leaders to examine the current state of health system finances and what the future may hold as healthcare leaders continue to wrestle with the impact of the COVID-19 pandemic.
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Roundtable Participants Included:
  • Steve Allegretto, Vice President of Value Based Programs, Yale New Haven Health
  • Michael Allen, Chief Financial Officer, OSF Healthcare, and Board Chair of the Healthcare Financial Management Association (HFMA)
  • Rick McWhorter, Executive Vice President and Chief Financial Officer, Texas Health Resources
  • Dan Michelson, CEO, Strata
Key Points:
COVID-19 highlighted the need to accelerate innovation; early leaders had an advantage.
Dynamic forecasting is key to an agile response to unexpected disruptions.
The pandemic accelerated the transition to full-risk value-based care; success requires blending clinical and financial data.
Price transparency poses challenges for health systems even as they embrace its goals.