For Rob Chestnut, the role of CFO of LMH Health in Lawrence, Kan., isn’t just all numbers — it’s also about being a good neighbor. Having been born at the 174-bed hospital, Mr. Chestnut has seen it evolve from both a community member and financial perspective.
“I sit here…about 20 feet from the front door, and a day doesn’t go by that I don’t see at least a dozen people I know that walk through these doors,” Mr. Chestnut said during a Becker’s CFO and Revenue Cycle podcast. “It’s personal for me, because these are my friends, family in the greater community. It is important and is really a great intrinsic motivation for me to keep going every day.”
It’s this unique blend of fiscal experience and hometown familiarity that Mr. Chestnut, who has been with LMH Health since May 2024, uses to help guide the hospital through a dynamic period of growth.
The hospital recently unveiled a $15 million cancer center, made possible in part by around $8 million in community donations through its foundation. LMH Health is also expanding with a second cardiac catheterization lab and exploring the possibility of a new heart center.
“[We] want to make sure that as many people as possible in our service area can get services here at the hospital, and they don’t have to drive someplace else to get that,” he said.
Over the next few years, Mr. Chestnut said the hospital is focused on service line growth and optimizing patient experience across all touchpoints, from admissions to billing. It is also focused on implementing technologies like artificial intelligence to help streamline both the revenue cycle and clinical workflows while preparing to navigate a changing payer landscape.
As the industry continues to evolve, Mr. Chestnut highlighted the value of long-term thinking for incoming healthcare finance leaders.
“[You] can’t cost-cut your way to prosperity, you have to invest in the right things at the right times to really have quality healthcare,” he said. “Unfortunately, with the challenges in finances right now that are across the board in this industry, the temptation is to clamp down. The temptation is to say, ‘Here’s a service line that we really can’t afford anymore’ … a lot of times, the numbers don’t always tell the story of what’s really happening.”
