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Chief Financial Officers from Hospitals Trends targets executives responsible for managing the financial status, planning, record-keeping, and reporting of the organization. Handling audits, taxes, budgets, and accounting are part of the daily activities. Proper allocation of resources and development of sound financial policies and procedures are crucial to achieving hospital goals. Of course, the CFO must always be aware of the hospital’s cash reserves, debt, margins, investments, capital budgets and expenditures. These officers continually seek ways to manage costs and make recommendations to department heads regarding cost eliminations. They provide financial expertise on future hospital projects and analyze data for potential ventures. These c-level executives must be organized and detail oriented to manage multiple departments as well as staff and vendors.
These administrators are employed by hospitals that are local, state, federal, church, military or corporately owned. The institutions CFO’s daily activities vary greatly based on bed size, number of patients they care for and whether the institution is a long term acute care, physical rehabilitation, psychiatric, children’s, or general medical/surgical hospital. CFO’s rely on new technology enhancements, continuing education programs, learning new managerial skills and techniques, attending trade shows, and reading medical and business journals to stay current in their field.
This target is made up of professional, intelligent, well-educated, driven, ambitious, and accomplished individuals. These consumers typically have a masters or doctorate degree from a prestigious university. They tend to be older and have extensive and impressive work experience in the accounting field. Many are CPAs. They are viewed as highly ethical, and they conform to GAAP, the generally accepted accounting principles. Most belong to professional organizations such as the American Institute of Certified Public Accountants, and they are leaders, volunteers and role-models in the community. They are well-read, keeping up on business and healthcare trends through journals, articles, magazines, and publications. They do a considerable amount of business travel to conventions, conferences, and meetings. |
