Hear from a CFO’s perspective, the changing culture of one organization to bring clinical and financial teams together to help drive out variations in cost and quality. This partnership enables the organization to assess its readiness to support the myriad of payment designs within healthcare reform.
Workshop 3: Melinda Hancock, VP Strategic Finance, Bons Secours Health System
In this session, Participants will hear many of the lessons learned in the process, focussing on how to:
• Build a cross functional team of clinical, financial and administrative staff
• Pair financial and clinical leaders to uncover variances, determine best practices and quantify cost savings
• From an IT perspective create a roadmap for clinical/financial data integration for improved decision making, more accountable and better coordinated care
Tuesday, 03.00pm – 04.00pm January 17, 2012
Pre Conference Workshops
Melinda Hancock, VP Strategic Finance, Bons Secours Health System
Melinda Hancock is the Vice President of Strategic Finance for Bon Secours Richmond Health System, a Catholic not-for-profit health care system with more than 6,000 employees. She is not only a CPA and Certified Healthcare Financial Professional, but also holds an MBA in Healthcare Administration from the University of Phoenix. She currently pursues initiatives to improve the system’s overall financial performance.
Under her leadership, Bon Secours Richmond has been able to maximize reimbursement and cost saving opportunities, resulting in a system-wide savings of $1.2 million. Her efforts to improve compensation at one particular hospital yielded an increase of $1.7 million in patient payments. She also created a knowledge-sharing network, used by all local systems within the Bon Secours Health System national network, to deal with reimbursement regulations.
Working at the national level, Ms. Hancock serves on a committee of the Healthcare Financial Management Association. The group meets twice a year to discuss and publish a white paper on issues such as payment reform and transparency in health care reporting. Recently, she served on a national committee wrestling with proposed payment changes for Medicare.
Ms. Hancock began her career at two of the Big Four accounting firms: Deloitte & Touche and Ernst & Young. Prior to joining Bon Secours Richmond in 2004, she spent four years at Culpeper Regional Hospital, in Culpeper, Virginia, as Controller of the hospital and Executive Director of the Foundation.