Becker’s CFO Report: Why Cedars-Sinai Leans Into Efficiency When Expenses Outpace Revenue
Becker’s CFO Report recently interviewed Cedars-Sinai Chief Financial Officer David Wrigley about Cedars-Sinai Health System’s financial priorities and challenges, as well as how the organization is using technology to enhance patient care and improve operations.
Wrigley told Becker’s that the healthcare system is always looking forward and finding opportunities for greater efficiency and growth.
“We’re always looking for ... how we might invest in the future,” Wrigley told Becker’s. “Whether it’s a new facility, especially in the ambulatory space, to be close to our patients, whether it’s in artificial intelligence or digital technology or emerging companies, we’re always looking for those kinds of growth areas where we might be able to make a difference and serve our community better in the future.”
He said Cedars-Sinai, like many hospitals, experienced labor shortages in the wake of the COVID-19 pandemic, and he discussed short- and long-term plans to address these challenges.
“We recently started the Chuck Lorre School of Allied Health to promote six areas of clinical labor that we need in the future,” Wrigley told Becker’s, “things like respiratory therapists, pharmacy techs, clinical labs, scientists and imaging techs to move more and more of those folks into the profession so that we’ll have a steady labor force in those areas.”
Wrigley said that the organization’s new virtual healthcare platform, Cedars-Sinai Connect, helps patients quickly and easily access Cedars-Sinai experts for illness as well as chronic and preventive care through the use of a mobile app.
“It will really help us on two fronts, the clinician front, but also the access or capacity issues that we have in some of our areas,” he told Becker’s.
Click here to read the complete article from Becker’s CFO Report.