No healthcare organization is immune to financial decline. Healthcare leaders must be able to recognize the warning signs of financial distress and take action to maintain or restore their organization’s financial health.
The author of this step-by-step manual shares what he learned while leading several successful financial turnarounds. Along with concrete tools and action plans, he provides candid advice about minimizing the fears of employees, physicians, and board members. In this book, you will learn how to preserve crucial relationships while directly addressing difficult questions.
Topics covered include:>
Using performance analytics to predict a financial crisis
Acknowledging a negative financial trend and accepting responsibility
Improving cash flow and reducing costs
Initiating pivotal discussions with key stakeholders
Creating an effective communications and public relations strategy
Developing a dashboard for the turnaround process
Fielding the right turnaround team and determining responsibilities
Maintaining strong relationships with your medical staff
Avoiding common leadership missteps
Considering the use of outside consultants
Creating closure after a turnaround