Rick Warren, Chief Financial Officer & Chief Operating Officer, Innovation Care Partners, brings lessons from more than 25 years in Healthcare Finance. This includes roles as senior finance and FP&A roles at Ascension (one of the one of the largest private healthcare systems in the United States), Banner Health, one of the largest nonprofit health care systems in the country, and CVS Health, one of the US’s largest retail pharmacy store chains. This is a must-listen for anyone who is interested in finance procedures in healthcare and the most important metrics in healthcare for anyone in finance.
This episode covers:
- How finance can help transform healthcare equity – the challenge of getting lower socioeconomic group fair healthcare coverage
- Rick Moving from a political science degree to finance and ultimately CFO
- The importance of Relevance over precision in FP&A
- The nightmare budget which crashed before it was saved
- Lessons from Boy Scout leadership positions
- Margins for hospitals still struggling post-covid
- The fundamental healthcare financial metrics including reducing hospital expenses, admissions per thousand, ER visits vs primary health care physician, SNF nursing home days spent, revenue and expense per member per month
- The secrets to effective business partnerships in FP&A
- Favorite Excel Function
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