How Cone Health is finding its 'true north'

Greensboro, N.C.-based Cone Health had a $100 million financial turnaround in 2023 — and that was not by chance.

Vi-Anne Antrum, DNP, RN, a senior vice president and chief nursing officer for the health system, recently joined Becker's to share how Cone Health bounced back in the last year. 

Editor's note: These responses were lightly edited for length and clarity.

Question: How has Cone Health changed the most over the last year?

Dr. Vi-Anne Antrum: Cone Health had a $100 million turnaround in fiscal year 2023 that incorporated the entire enterprise to achieve.

We did this by focusing on our "True North" metrics, which are goals we have as a system, aligning incentives across the system and creating focused efforts to drive revenue growth and expense reduction. We called this effort "Fueling our Future" because it truly does enable us to serve our communities.

 Q: What change or update that you made in 2023 as a senior vice president has paid off the most?

VA: As a senior vice president, my greatest contribution was being able to lead our team through the reduction of premium labor by 48% and help reduce shift incentives by almost 50% through focused efforts on retention and creative hiring strategies. We were able to exceed our goals around retention while achieving high-quality outcomes. This is a win for everyone!

Like what you see? The executive featured in this article will speak at the 14th Annual Meeting in Chicago! Hospital and health system leaders, click here to apply for a complimentary badge. Interested in exhibitor or sponsorship opportunities to connect with 3,000+ hospital and health system leaders? Download the prospectus here

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars