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Finance Leadership in Healthcare |
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ITAP supports finance executives in healthcare organizations to optimize creative and cooperative ways to improve quality for consumers and contain costs. Through our customized solutions, finance leaders become expert at analyzing, and prioritizing strategic initiatives, and become better partners to the medical team (nurses and doctors), the operational functions (administration, IT), and other stakeholders (health insurance plans, nursing homes, and ultimately, the patient / consumer). The outcome is a Finance organization that is a more effectively aligned with the organization’s mission and commitment to quality.
This need also exists in hospitals, where CFO’s invest in their staff’s capabilities to ensure that they go beyond managing accounting and reporting activities. They seek to release their finance team’s potential to develop ideas and direct projects that improve the hospital’s performance. ITAP helps ensure that finance teams in hospitals are able to: - Address account receivable challenges from a strategic perspective, successfully navigating the healthcare payment system
- Respond to reimbursement cutbacks while maintaining high ethical standards
- Borrow money and address fluctuations in hospital bonds
- Prioritize investment in technology, including medical devices and IT systems
- Compete with other hospitals and independent health providers (drop-in clinics, imaging centers, etc.)
- Balance the funding of programs and capital projects
- Retain talent and safeguard against labor shortages
- Increase the number of insured patients through Medicaid and state-run insurance programs
- Partner with state and federal agencies
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