The experience with a PBM and health plan helped him approach his CFO role on the provider side differently. His nuanced perspective is especially helpful as ScionHelath, along with health systems across the U.S., aims to redefine their relationship with payers and collaborate more thoughtfully post-pandemic.
“I am really trying to change the traditional CFO landscape,” said Mr. Firdausi during an interview with “Becker’s Healthcare Podcast.” “Having the PBM background, having the payer background and now being on the hospital side, I’m trying to combine it all. There’s been a lot of focus on denial management, revenue cycle and AI. Everybody’s really hyping up AI, but at the end of the day, how you realize contracts is foundational.”
Mr. Firdausi developed a “revenue 101 playbook” outlining the daily revenue cycle operations at hospitals and examining how the health system can contract and collaborate with payers as well as other local hospitals and joint venture partners to navigate challenges ahead. He aims to finish it by the end of the first quarter and share it openly for future collaboration.
“We are in uncharted territory,” said Mr. Firdausi. “The pandemic really opened up our eyes to get rid of those siloed roles at the executive level. CFOs are doing work with CEOs. CNOs are involved. Those silos need to be broken down and all executives need to collaborate. CEO, CNO, CFO, CMO, it doesn’t matter what your role is. If you have a seat at the table at the executive level, you should be thinking about strategy. You should be thinking about patient safety, patient care, patient quality. Those come first, and then finances always follow.”
ScionHealth’s executive team is working together to identify the challenges and opportunities best suited for the organization, and then support their teams. Mr. Firdausi loves training his teams and building up the skillsets they’ll need to be more successful in the future.
“Think of your area as your own business or your own bank account. How would you be a good financial steward and manage that account?” he said.
