Issue link: https://beckershealthcare.uberflip.com/i/633033
47 FINANCE Essential Skills of a Health System CFO: 3 Finance Chiefs Weigh In By Ayla Ellison T he role of the hospital and health system CFO is evolving to encompass far more than crunching numbers. Healthcare finance chiefs are taking on more strategic roles that require a combination of analytical skills and people skills. e shi in the CFO role is clear, with 52 percent of CFOs, including those from hospitals and health systems, spending more time on strategic issues, according to the Bank of America Merrill Lynch 2015 CFO Outlook survey. e role of health system finance chief requires a different skill set than in the past. Becker's Hospital Review had the opportunity to catch up with three financial leaders from hospitals and health systems who weighed in on the essential skills a health system CFO needs to be successful in today's healthcare market. Rhonda Anderson Vice President and CFO, Ascension (St. Louis) Amy Floria CFO, IU Health Goshen (Ind.) Hospital Daniel Morissette CFO, Stanford (Calif.) Health Care Rhonda Anderson, senior vice president and CFO, Ascen- sion (St. Louis): "As the healthcare industry moves to a fee-for- value payment system, CFOs have to be open to the disruptive environment and look at the ongoing changes as an opportuni- ty. To respond to this landscape, CFOs should be comfortable and flexible with seeking strategic partnerships and building relationships with other providers, health systems and payers." Amy Floria, CFO, IU Health Goshen (Ind.) Hospital: "Health system CFOs must be strategic in thought and nimble in action. We must think three and four steps ahead due to the pace of change in healthcare. e pace is exhausting but CFOs must be nimble and proactively respond to anticipated chang- es without deviating from the system's key strategic objectives. In addition, a CFO must be an excellent communicator and be able to explain the path the system is navigating. We need to be able to explain the 'why' behind the system's strategy." Daniel Morissette, CFO, Stanford (Calif.) Health Care: "A CFO still must have strong technical skills and experi- ence in this complex healthcare environment. Additionally, strong communication skills, demonstrated success partner- ing with physicians and other executives, and examples of cre- ativity in decision-making are equally important. e role of the CFO is clearly evolving, and the combination of strong an- alytical skills and people skills is more important than ever." n FINANCE