| The pandemic has been the ultimate stress test for healthcare organizations, putting their financial resilience on trial. When COVID-19 first hit in March 2020, organizations faced waves of critically ill patients, forcing them to shut down elective procedures and pivot to telehealth services. At the same time, they needed to move much of their workforce remote and tighten their belts to stave off layoffs.
With COVID-19 vaccinations on the rise and a new normal coming into view, organizations must now ask themselves: What changes should stay, and how can they be more financially resilient in the future? The latter may require a combination approach that relies on flexibility, attention to detail, increased efficiency, and prioritizing patient-centric care.
In the latest HealthLeaders Industry Focus Section, we had the opportunity to interview Michael Burke, executive vice president and CFO of PRISMA Health, and Mike Morris, president and CEO of Xtend Healthcare, about the situations their facilities are facing and what they are doing to ensure long-term success. |
