About the Session
This seminar will start by laying out the necessity to create a functional profit and loss statement for each of the major service lines and reviewing a process for defining inpatient and outpatient service lines. Faculty will explore the anticipated pushback that may be received from clinical and operations stakeholders and how to respond in kind. Then, they will discuss—from financial and operational perspectives—the “metrics that matter” for managing a service line. You will also explore how to work with operators to identify variances or red flags within those metrics and to create bridge plans for remediation on strategic initiatives that should be visible on the functional P&L statement. Faculty will examine what the role of a modern day service line executive should entail and the structure and guiding principles for how he or she should work and align with the clinical and operations teams. You will also review how the role should fit into the organization’s overarching enterprise strategy.
- Identify the operating structure and defining roles of a service line function that will enable your organization to unlock growth.
- Explore a process for creating a functional profit and loss statement, defining service lines, creating “metrics that matter,” and remediating variances with operations stakeholders.