How Hospital CFOs Can Work More Effectively with Their Boards of Directors
Good governance begins with trust, transparency, cultivating key relationships, and good financial education opportunities for all board members.
As the healthcare landscape continues to change, it stands to reason that the role of CFO is evolving, too. But CFOs’ traditional duties—financial oversight throughout the organization and maintaining accountability to the Board of Directors—remain as important as ever. In fact, hospital and health system CFOs will find that developing a collaborative, trust-filled relationship with their boards of directors is arguably more important than ever as healthcare is delivered and funded in increasingly complex ways.
David Friend, MD, chief transformation officer and managing director at the BDO Center for Healthcare Excellence & Innovation, encourages CFOs to examine these five aspects of board relations to help ensure the smoothest possible governance.
Read Dr. Friend’s insights in the full article on HFMA’s CFO Forum.