- Building Financial Resiliency in 2025
- Members in the News: Montefiore Health System Names Inaugural Chief Pharmacy Officer
- Applications Being Accepted for the 2025 Summer Enrichment Program
- Five Signs of a Healthy Lab Supply Chain
- Still Time to Renew Your Annual Membership
Building Financial Resiliency in 2025
Financial strategy and planning experts with Kaufman Hall say to have financial success this year, hospitals and health systems need a specific and well-thought-out framework for evaluating capital investment opportunities.
Health systems tend to offer similar services in several different locations, so optimizing portfolios and service lines is crucial to cost savings,” says Dawn Samaris. “Maybe not-for-profit healthcare cannot do it all,” adds Lisa Goldstein, saying that the idea of being the best at everything is changing as a result of new economic realities.
Overall, organizations should strive for building financial resiliency by focusing on opportunities that provide durable, long-term value, not short-term gain—and let go of the desire to protect the bond rating and the balance sheet at all costs. Rating agencies are not short-term thinkers and, when markets are functioning well, small deviations in ratings have negligible effect.
Post-pandemic, a keen focus on operations and efficiencies “is paramount,” according to Samaris. Check out “Four Strategies for Financial Success in 2025” in the January/February issue of Healthcare Executive for Samaris and Goldstein’s thoughts on several approaches that can strengthen the financial future of a hospital or health system.
Members in the News: Montefiore Health System Names Inaugural Chief Pharmacy Officer
Ruth E. Cassidy, PharmD, FACHE, FASHP, has been named the inaugural chief pharmacy officer at Montefiore Health System, New York City. To read about other peers making headlines, or to submit an item, visit ACHE’s Members in the News.
Applications Being Accepted for the 2025 Summer Enrichment Program
Registration is open to graduate students and host sites for the American Hospital Association’s Institute for Diversity and Health Equity’s 2025 Summer Enrichment Program. Host sites provide professional development, mentorship, training and education for interns that are placed at their organization.
This is a 10-week internship opportunity for healthcare organizations to host a graduate student. Both host sites and interns benefit from experiential learning, mentorship and networking. Experienced administrators serve as preceptors and mentors, providing support and career advice as well as critical early-career connections. Host organizations can consider this a future leadership pipeline opportunity.
ACHE and the Institute are co-promoting the program. Healthcare organizations that register to become a host site gain access to these healthcare leaders of tomorrow. Internships generally take place June through August. The student application deadline is Feb. 7. The host site application deadline has been extended to Feb. 21. Learn more and apply today.
Five Signs of a Healthy Lab Supply Chain
A clinical lab’s ability to deliver timely diagnostic testing hinges on a stable supply of essential materials and equipment. With an optimized supply chain, the lab hums at peak efficiency to deliver prompt results. Without it, lab personnel are left waiting or improvising suboptimal workarounds, physicians don’t get the results they need and patient care can be impacted.
So, what are the signs of a healthy lab supply chain?
- Inventory is managed by dedicated personnel. Managing the flow of lab supplies should be the primary job of at least one dedicated staff member or an industry partner. This is essential to maintain both a steady supply of materials and reagents, and to ensure the provisioning and maintenance of critical instruments throughout the lab.
- Demand forecasting and risk mitigation. Lab managers who can accurately forecast demand are in a better position to match the supply of materials to their usage, with neither a space-wasting oversupply nor a time-wasting gap when they run out. Lab partners may offer a more comprehensive perspective of supply chain issues than in-house personnel have time to develop.
- Supply chain metrics improve efficiency. Beyond keeping electronic track of critical supplies and automatic restocking, this can include identifying and monitoring usage and tracking losses through expiration of unused reagents.
- Volume purchasing minimizes costs. The largest buyers get the best prices and, just as important, the most reliable access to limited materials when the market becomes tight. A partner with a dominant position in the market can bring that kind of access and pricing to labs of any size.
- Multiple vendors ensure supply reliability. Relationships with multiple suppliers can help ensure the flow of critical supplies to healthcare institutions. This helps guarantee the clinical lab always has what it needs, when it is needed.
Quest Diagnostics, a proud supporter of ACHE, provided the content above.
Still Time to Renew Your Annual Membership
Memberships that expired Dec. 31 are still eligible for renewal. Renewing today ensures continued access to exclusive member benefits while staying connected with your more than 50,000 healthcare leaders across the country and around the world.
For a quick and easy way to renew, log in through the My ACHE portal and click “My Membership” under the Helpful Links tab. You’ll find information about the installment payment option and the auto-renewal process for future years. For questions about your membership dues or renewal, contact ACHE’s Customer Service Center via email or by calling (312) 424-9400.