Providence South Division comprises 17 hospitals and several clinics across Southern California. In July 2022, Providence switched to a new operating model that broke the 51-hospital system into three new divisions: south, central and north.
“It’s been a good journey,” Ms. Arveson told Becker’s regarding the operating model change. “The thing it’s done, like all healthcare organizations, [has been] lightening our overhead burden so we can focus our financial investment on bedside care and patient-facing care in the clinics, [which] has been critical. I also think having fewer layers has made us more nimble, so we’re able to get to decisions faster, which I see as a really positive thing.”
Ms. Arveson has held her current position for six months, and looking toward 2025, she is focused on two key areas: deepening relationships with her team and proactively planning and building long-term financial strategies.
To strengthen relationships, Ms. Arveson has made it a goal to visit all 17 hospitals under her division in the first year of her CFO position.
“Shadowing is the best way to do that,” she said. “It also builds a lot of trust and integrity with our clinicians.”
By connecting with colleagues across the division, Ms. Arveson has learned more about how Providence’s hospitals operate and what services are provided in each unit to have a substantial impact on both the community and patient care.
“Learning their language and learning their work really helped put me in a position [of] credibility, because they understand that I understood, and being a true partner in helping solve problems and meeting both the clinical need and financial need,” she said.
To help get ahead on the division’s finances, Ms. Arveson plans to start building their 2026 and 2027 budgets in the first quarter of 2025.
Like many healthcare organizations, Providence South Division has been doing a lot of recovery work, including short-term strategies to help focus on core operations, length of stay, labor efficiencies and other areas that have been successful over the last two years.
“We’re really mapping out our continued journey towards long-term sustainability,” she said.
Ms. Arveson also offered three pieces of advice for aspiring female leaders in healthcare finance: don’t minimize your contribution, use your voice and wrap yourself around mentors or women’s network opportunities to get involved.
“It’s really invaluable to have people in your life who can both push you and teach you, ‘here’s where you need to get better,’ but also remind you about what you’ve already accomplished,” she said.