CFO Kedrick Adkins: Bringing more than a financial perspective

Kedrick Adkins hasn't been CFO of Mayo Clinic for very long, but he knows working as a team is integral in getting things done.

He also knows that effectively leveraging talent is crucial at a place like Mayo Clinic, which sees millions of people each year.

Mr. Adkins became CFO of the world-renown system in 2014.  Adkins Kedrick D 14AP-8x10-600dpi.jpg

Prior to his current role, Mr. Adkins served as executive vice president and president of integrated services at Trinity Health in Livonia, Mich. He also held various positions with Accenture, a global management consulting firm, including global chief diversity officer and managing director of U.S. operations.

His education background and work experience in business, finance, operations and engineering have been an asset to him as CFO of Mayo Clinic, as he is able to bring more than a financial perspective when faced with challenges.

Becker's had the opportunity to catch up with Mr. Adkins and get his insight on a number of issues, including what he believes are the best practices for running the finance team of a hospital or health system.

Question: What are some of the best practices for running the finance team of a hospital or health system? 

Kedrick Adkins: It's important to create a solid vision and set of strategies for the finance function and continually build on that foundation. Focus is equally important since there are a lot of opportunities to get distracted, so it's important to stay the course. Finally, grow your talent — organizations grow and are successful when people grow along with the institution's success.

Q: What has been your greatest accomplishment as CFO in the last year? 

KA: The team approach to work is integral to how we get the work done. I'm so grateful to be part of such a talented team and for the opportunity to effectively collaborate with my peers on so many terrific initiatives. It's both inspiring and humbling to be part of an institution like Mayo Clinic, which brings hope and healing to millions of people each year. 

Q: What led you to become a CFO?

KA: My education background and work experience is in business, finance, operations and engineering. These broad sets of skills serve me well in my role as CFO at Mayo Clinic since I bring more than just a finance perspective when I'm faced with challenges.

Q: What is one goal you have for the next year and how will you achieve it?

KA: One important goal for us in finance at Mayo Clinic is to continue to turn collaboration into a core competency as we provide the highest levels of service to our internal and external customers. When Mayo performs well financially, it allows us to reinvest in healthcare delivery, research and education, which ultimately benefits our patients. And even on the business side of Mayo Clinic, we approach our work with this lens: The needs of the patient come first.

 

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