CFO David Hadley: Bringing Quality Financial Strategy to the Sunflower State
Via Christi Health has 12 fully or partially owned hospitals in six different Kansas cities, and it provides tens of millions of dollars in community benefits every year. David Hadley is CFO of Via Christi Health and has been since November 2008. Mr. Hadley has helped the system reach success through his more than 20 years of healthcare finance experience.
In fiscal year 2011, Mr. Hadley helped Via Christi to reach $1.09 billion in operating revenue, and a major part of those results came from an increased focus on quality. "We’ve all seen or heard the quotes: 'There is a lot of waste in healthcare and the quality could improve.' While a bit of an oversimplification, that statement or concern would appear to be a roadmap for success," Mr. Hadley says. "With a focus on the patient, providing quality service will be one key to success for Via Christi. By placing the patient at the center of our process, every decision will look at how we can best serve that patient and help provide a quality outcome. Insurance companies and federal and state governments are beginning to tie reimbursement to quality outcomes. If we don’t focus on quality, our future payments will decline."
Quality alone will not save hospitals and health systems, and Mr. Hadley says a truly productive and financially viable system needs a balance of quality initiatives and cost-cutting initiatives.
"We have to drive cost out of the system, and the best way is to eliminate waste and duplication and increase productivity," Mr. Hadley says. "Consolidation of the 'back office' functions will help reduce cost without impacting the service at the bed side. Improved compliance with purchasing contracts, establishing accountability and driving toward top performance benchmarks will improve operating margins. There is more we can do on the revenue and expense side to help make sure we have a strong foundation for the future."
Before arriving at Via Christi, Mr. Hadley worked at Texas Health Resources, based in Arlington. Mr. Hadley oversaw seven of the health system's acute-care hospitals. Prior to the merger that created THR, Mr. Hadley served as CFO of the 229-bed Harris Methodist Southwest Hospital in Fort Worth, Texas, now known as Texas Health Southwest Fort Worth.
More Articles on Hospital Executive Profiles:
© Copyright ASC COMMUNICATIONS 2014. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.