Agenda

The COVID-19 fallout continues to unravel. With inflation at 40-year highs, supply chains in disruption, the possibility of a recession – or stagflation – are just some of the macro events taking shape that will impact budgets and your ability to effectively manage the hospital’s finances.

Gain a big picture of the economic headwinds so that you can assess the risks and prepare for coming years.

Key Session Takeaways Include:

• What macro trends are we seeing that will affect provincial and federal budgets to deliver on their funding models?
• What can we expect over the short and long term with interest rates, and their impact on capital financing projects
• How to plan during significant uncertainty

The healthcare system has been moving closer toward a collaborative approach to providing care, accelerating greatly since the pandemic. This is leading to new models of providing care, and consequently, new funding models and system transformation.

Key Session Takeaways Include:

• What insights have we gleaned over the last year, and how will they affect the foundation for health system transformation
• What is Ontario Health’s role in driving health system transformation
• What are the key transformational initiatives/Areas of Focus in the next 1-3 years
• What it means to manage the system in the current context (i.e. Supporting system integration, OHTs, upstream and downstream resources to support patients receiving care in the right place etc.)
• What levers and vehicles are within Ontario Health’s directive to drive change

The Ottawa Hospital is embarking on a massive and ambitious new campus, serving Eastern Ontario, Nunavut, and Western Quebec. The new campus will provide 641 beds with one patient per room for better infection control, the most advanced trauma centre in Eastern Ontario, and a host of other innovative features.

But funding and building a hospital this size, from the ground up, requires detailed and creative financial attention, as well as important partnerships.

Hear how The Ottawa Hospital financed and collaborated on such a large project.

Key Session Takeaways Include:

• How they tapped into the available funding sources and why they chose these options
• Delivering on such a large project, over years, and with risings costs, rising inflation, and Covid
• Lessons learned from the initiation phase to the current phase – and what the future may hold

Lunch Presentation 15 minutes

EHR Adoption, Health Information Management & Lessons from Across the Border

In 2009, the US passed the HITECH Act, leading to a 9-fold increase in EHR system adoption at acute care hospitals. With this adoption, U.S. hospitals also unlocked innovations in the back-office and operational processes of healthcare. Over the last few years, Canadian hospitals have seen similar jumps in EHR adoption with new opportunities presented to evolve operational processes. This session will discuss how the rise of EMRs and the introduction of ICD-10 led to computer-assisted coding use in the US and how Canadian hospitals can leapfrog from this trend to introduce AI efficiencies in their own HIM departments to optimize funding.

We have seen huge benefits in data analytics, automation, and AI on the clinical side. Now we can see some of those benefits on the finance side. Simplifying the role of finance through automation hold many positives, including lowering costs, and freeing up staff for more creative and innovative work.

With the myriad of challenges facing finance professionals in healthcare, there are some exciting lessons to be learned in how others have deployed back-office automation.

Key Session Takeaways Include:

• Where the largest benefits of automation are realized, both financially and in time management
• How to build a platform that is adaptable to your needs – and how it can evolve as needs and technology change
• Understand the challenges and opportunities similar organizations have experienced

Ongoing management of the capital intensive hospital sector requires the strategic deployment of capital regardless of whether it is redevelopments, replacement of existing fleets, or purchasing state-of-the-art innovative equipment.

With increasing demands on the health sector, there is a growing demand for innovative ways to pursue capital investment. This session will discuss innovative ways to navigate the process of raising and deploying capital.

Key Session Takeaways Include:

• What critical considerations need to be addressed early in the process
• Which financing options are best for various projects and timelines
• What strategies are best for new builds versus retrofits versus equipment purchases
• Strategies for personal protective equipment (PPE), pharmaceuticals, labs, and other operational purchases

The old linear economy of take, make, use, and trash is outdated and causing tremendous harm to our environment. Instead, we are transitioning to a circular economy, where fewer resources are being taken out of the system than are being returned to it.

Hospitals can have a large carbon footprint, but they can also contribute to a green transition through sustainable procurement, efficient asset lifecycle management, and extending the life of their equipment.

Key Session Takeaways Include:

• Healthcare’s current approach to sustainability is only just the beginning

• Benefits of offsetting the environmental impact of technology

• Digitization and reducing the cost and footprint of hospitals through equipment

• Saving to be gained from the circular model

Staffing shortages are an issue across the healthcare sector, not just on the clinical side. Finance, IT, HR, and others are similarly challenged.

Staff turnover occurs across departments, burnout remains a real concern, and attracting new talent under the current tight job market is difficult.

And while the situation may seem challenging, there are many opportunities available to drive both retention and recruitment.

One of the most vital duties as leaders is developing the next generation of leaders. Being able to spot those with the optimal attitudes, skill sets, and interest in leading is essential. But equally critical is ensuring adequate onboarding and professional development.

In this panel of CFOs, we will discuss the various models and strategies they have experienced and provide some lessons learned to both leaders, and those looking to advance into leadership positions.

Key Session Takeaways Include:

• How healthcare can competing with the private sector for talent, such as creative non-compensation based strategies
• Leadership development strategies for onboarding and developing the next generation of finance professionals
• The differences between large and small organizations, particularly around providing adequate resources
• Managing the transition to CFO: mentors, the learning curve, and building a formalized process
• What best practices do we have for selecting and training talented employees
• Onboarding lessons learned: the good, the bad and a wish list

The healthcare system has been moving closer toward a collaborative approach to providing care, accelerating greatly since the pandemic. This is leading to new models of providing care, and consequently, new funding models and system transformation.

Key Session Takeaways Include:

• What insights have we gleaned over the last year, and how will they affect the foundation for health system transformation
• What is Ontario Health’s role in driving health system transformation
• What are the key transformational initiatives/Areas of Focus in the next 1-3 years
• What it means to manage the system in the current context (i.e. Supporting system integration, OHTs, upstream and downstream resources to support patients receiving care in the right place etc.)
• What levers and vehicles are within Ontario Health’s directive to drive change

Coming out of the pandemic, it is time to reflect on what we will improve, what we will keep, and what we can anticipate. We know funding is continuing to be a challenge, especially with greater demand for services and higher patients’ expectations.

Additionally, we have staffing challenges at all levels. Supply chain disruptions, and inflation. These challenges will continue to exist into the next couple of years.

Join in the discussion as we assess and debate the lessons learned over the pandemic and strategize on the future implications of these challenges to hospital CFOs.

Key Session Takeaways Include:

• What now? Do the funding model and patient expectations align?
• How should funding models be modified to accommodate increased capacity?
• How should we tackle the supply chain challenges going forward?
• How can we work with other departments, such as HHR meeting staffing challenges?
• How will climate change and sustainability goals impact hospitals?