The substantial value in ‘multi-disciplined team,’ per 1 CFO

Hospital and health system CFOs continue to face mounting pressures, from ongoing workforce headwinds to sudden regulatory shifts. To meet these challenges, sometimes a CFO needs to step beyond their role as financial steward and act as a strategic partner to operational leaders. 

Becker’s connected with Brian Zimmerman, who became CFO of Columbus, Ohio-based Mount Carmel Health System in mid-August, to discuss his new role and focus on redesigning care delivery, harnessing technology to drive efficiency and investing in patient access and education programs to ensure sustainable growth amid industry uncertainties.

Editor’s Note: responses have been lightly edited for clarity and length.

Question: As you step into the CFO role, what are your top two to three priorities for Mount Carmel’s financial strategy in the next year, and how will you put them into action?

Brian Zimmerman: Healthcare CFOs face a dynamic environment shaped by reductions to Medicare and Medicaid programs as a result of congressional and regulatory actions, as well as workforce challenges. 

As I step into the CFO role, I will focus on redesigning how and where we provide services, how we use technology to advance our operational efficiencies, targeted investments to improve access to our coordinated network, patient experience and growth of education programs at the Mount Carmel College of Nursing.

Q: What financial innovations or efficiencies do you see as most critical to supporting Mount Carmel’s long-term goals, and why?

BZ: The innovations that are most critical are value-based care models like bundled payments to align financial incentives with patient outcomes and investing in automation in revenue cycle processes that can streamline claims processing, reduce denials and enhance efficiency. The financial innovations of value-based care will align costs with patient outcomes and revenue cycle automation innovations will speed up cash flow and reduce administrative cost burden. 

Q: In your career in healthcare finance, what is the best piece of advice you’ve received? How will you apply it in your new role?

BZ: The best advice I received is to become a great finance partner to operational leadership. Healthcare finance and hospital operations are complicated. There is substantial value in working in multi-disciplined teams to present a finance perspective to support critical decisions that are in the best interest of the patient.

Q: How do you see Mount Carmel’s financial strategy evolving over the next three to five  years to meet the changing needs of patients and the healthcare industry?

BZ: Over the next three to five years, Mount Carmel will continue to develop our community division, including ambulatory, physician office, retail services and home-based services, to help meet growing demand for convenient, lower-cost care options. 

Ambulatory models reduce reliance on higher cost inpatient services and align costs with current payment reforms. In addition, our service lines will drive advancement in clinical care and targeted growth opportunities.

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