Providence prioritizing workforce, adjusting to post-pandemic baseline, CFO says

Greg Hoffman, CFO of Renton, Wash.-based Providence, discussed the current challenges the system is facing amid the pandemic, as well as financial changes he anticipates in the short and long term on a recent episode of “Becker’s Healthcare Podcast.”

Advertisement

Here is an excerpt from the podcast. Click here to download the full episode.

Editor’s note: This response was lightly edited for length and clarity.

Question: What are your top one or two priorities that are consuming most of your time today?

Greg Hoffman: Number one is workforce. It’s not only the challenges of the current shortages as we navigate yet another surge and wave in the pandemic — but most importantly, it’s just ensuring we’re taking care of the well-being of our caregivers. I mean, that’s top of mind for us. It is a very stressful time. There’s a lot of burnout.

Number two is really understanding, what is the post-COVID baseline going to be? I think many positive things were accelerated across COVID. Think of things like telehealth, hospital at home, the shift from inpatient to outpatient. The potential of other things were highlighted: the use of data and analytics across the pandemic, value-based-care. These are all positive trends, I think, for the industry that are quickly coming ahead, and we’re going to continue to see significant transformation and innovation ahead. 

But we’re also now seeing significant inflation. So our [third] priority is really charting our path forward across the next several years. 

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.