In February, more than 450 health and human services executives gathered to hear from dozens of thought leaders and industry experts at the 2023 OPEN MINDS Performance Management Institute. The institute featured the Open Minds CFO Summit, where CCSI's David Wawrzynek, Senior Director, Fiscal Practice Improvement, presented the Financial Opportunities of Understanding Your Unit Costs and the CFO Role in Preparing for Value-Based Contracting. David shared with us his top takeaways from this year's institute:
- One of the reoccurring themes during the institute was superior performance = success and sustainability. As the demand for performance increases, organizations will need to be equipped with best practice techniques and strategies, and tools that will optimize organizational performance and facilitate long-term growth and sustainability.
- Speakers shared innovative models and strategies for superior performance including tech-enabled models and community-wide integrated care models.
- David spoke on how understanding unit costs can be a tool for driving competitive advantage and demonstrated a dynamic approach to modeling that supports input and collaboration between finance and program leadership. Here are links to his PowerPoint and the costing model he demonstrated.
- Presenters highlighted a number of ways organizations should consider changes in current practices to reflect the challenges in transitioning to a performance-based environment, including:
- Performance-based recruitment and retention strategies for building the workforce of tomorrow
- How Diversity, Equity, and Inclusion and Trauma-Informed Care programming need to be core components of your business strategy
- How the role of the CFO needs to transition to being the architect of value and be a leader in the organization's journey from volume to value
- Reimagining the consumer experience by optimizing processes from the consumer's perspective, and
- How mergers, acquisitions, and affiliation strategies can allow organizations to gain the economic scale needed to address the challenges of performance-based expectations
To learn more about these topics, contact David at DWawrzynek@ccsi.org.