Written by Natalie Moore on Mar 20, 2015
Hospital CFOs Share Why They're Happy Today
In 2012 the first ever UN conference on Happiness took place and the General Assembly (of all 193 state members) adopted this resolution naming March 20th the International Day of Happiness.
Why the International Day of Happiness?
Besides the obvious premise of spreading warm vibes around, since 2013, March 20th has been a day to promote a shift in the way people around the world think about progress. Today reminds us that progress isn’t all about economic growth and pulls well-being and the pursuit of happiness back into focus.
And when it comes to this kind of progress, healthcare providers and their patients have a lot of reasons to be happy.
All Insurance Plans Cover Hospital Care
For the first time since Americans started observing the international holiday, they can all smile with the knowledge that their insurance plans, (now by law), include hospitalization coverage. Prior to 2015 ‘skinny plans’ allowed large employers to sidestep ACA penalties by offering low-cost ‘skinny’ plans lacking hospitalization coverage.
Today, no insured American has to carry the expense of a hospital stay on their own - a hurtle that could make anyone’s pursuit of happiness that much harder.
With regulations being put in place by the IRS and the U.S. Department of Health and Human Services (HHS) these so-called mini healthcare plans are no longer recognized as providing a minimum value, (a plan covering at least 60% of total allowed benefit costs).
The Evolution in Patient Engagement is Good for Everyone
Your patients are no longer bystanders when it comes to their healthcare decisions. Consumers are engaged. That means they’re researching more. They’re listening more, and they have more potential to build meaningful relationships with your staff and to form emotional connections to your brand.
And while today isn’t about profits, patient engagement also means more job security for those working for healthcare providers.
According to last year’s industry report by New Horizons Healthcare, engaging patients means more positives on the provider end. The report shared that along with patient-provider relationships built-to-last comes reduced cost and yes, added revenue, and or job security in healthcare.
And in celebration of International Day of Happiness, I asked these hospital CFOs to share what makes them happy today:
1. The Focus is On Wellness
“The thing that makes me happiest these days is the energy being created by healthcare reform. Regardless of one’s position on the Affordable Care Act, it has energized the industry in a positive way that is resulting in creative and innovative ways of delivering care, as well as the financing of healthcare, with a new focus on wellness rather than illness. It is an intellectually stimulating time in the industry with abundant opportunities to improve our healthcare delivery system.” - Bill Pack, VP of Finance and Operations • SCL Health
2. Making a Difference for My Team. . .
“Maya Angelou taught us that people never forget how we make them feel. My ability to give to my team is what makes me happiest. It’s small things like thank you notes, their favorite candy, or a free day of Paid Time Off. We celebrate the small successes daily and I always give credit when credit is due. I am serving my purpose by serving them, a true blessing in my life.” - Shannon Clark, CFO • Richardson Medical Center
3. The Healthcare Revolution is Now
“Been in this business for more than 25 years and I’ve never seen people more committed. Market pressures are making a difference for my friends, neighbors, and my community. Higher quality, lower cost healthcare and easier access – not an easy or fast transformation but it’s happening.“ - Paul Bolin, CFO • Williamson Medical Center
4. Working with People Who Make a Difference
“I am very happy at Northern Cochise Community Hospital. Since coming to the non-profit, 24 bed I/P Acute Critical, 24 bed Nursing Home back in October, 2014. I am very fortunate to work for a positive CEO and have what I like to call an ‘A-Team’ of Department Directors that report to me. Additionally, our HCAHPS scores are a testament to the Quality care being provided by our NCCH clinicians and support staff. We all wear multiple hats, especially working in a CAH on a daily basis, but everyone seems to relish the challenge and exhibit positive attitudes. That is why I am so very pleased with life here at NCCH in rural Arizona!“ - Dana Strong< CFO • Northern Cochise Community Hospital
5. Grateful for Everything (And Everyone)
“As a healthcare CFO I have so many things to be grateful for… first, four years post-disaster, on Sunday, March 22nd we move patients into our beautiful, new hospital. I have an amazing team and colleagues I feel blessed to serve with, The challenges we face are extraordinary. It is an exciting time to be in healthcare as we develop a model that treats wellness verses illness. I work in an amazing, exciting, ever-changing industry that continues to improve quality of life for those we serve.” - Shelly Hunter, CFO • Mercy Health Joplin/Kansas
6. Bringing Balance Back to Hospital
“Finance isn’t a profession you go into for high accolades, especially in healthcare. However, I have found much enjoyment and satisfaction in contributing to the mission of our organization through bringing balance and a skill set that complements the culture and overall desire to serve our community.” - Steve Febus, CFO • Pullman Regional Hospital
7. It’s All About the Team Today
“Happiness is a big part of optimism which results in higher productivity and success. Having a happy, cohesive team is a win:win which has been a high priority for me here in my new role. Cultivating an atmosphere of teamwork inside a diverse workplace makes everything else small in comparison. That’s what makes me happy. Next I’ll get happy about our higher volume of commercial patients and the lower adjustments we have seen year over year, but that’s tomorrow. Today it is about the team.” - Tammy Walsh, CFO • The Center for Cancer and Blood Disorders
8. Helping Healthcare Providers
“Happy because I love what I do to help healthcare facilities return to a healthy position. Being able to complete a profitable turnaround is a positive outcome for my clients.” - Terry Rosenthal, President • Terry Rosenthal Consulting and Former CFO of Tenet Healthcare