New Publication Gives Hospital Boards a Roadmap for Financial Success

Business Wire,  June 17, 2008  

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SAN DIEGO -- Economic forces are rapidly changing and keeping ahead of the curve is quite a challenge for hospital boards. While just one of the many responsibilities of a hospital board, financial oversight rises in prominence on the board meeting agenda during times of fiscal uncertainty. The hospital's financial health also remains a bellwether for other problems in the organization.

In a new signature publication released by The Governance Institute, Focus on Finance: 10 Critical Issues for Hospital Leadership, executives and trustees are given a roadmap to help maneuver in these uncertain times.

Written by Kenneth Kaufman of Kaufman, Hall & Associates Inc. with special commentaries by Lisa Goldstein, senior vice president and Health Care Team Leader of Moody's Investors Service and Richard L. Clarke, D.H.A., FHFMA, president and CEO of Healthcare Financial Management Association, Focus on Finance covers topics such as balancing cash and debt, strategic market assessment, why credit ratings matter, managing risk, and organizational direction and strategy.

"I've always been a big believer that corporate finance is a mechanism for managing larger problems. In Focus on Finance we introduce a way of thinking about the challenges facing the leadership of complex hospital provider organizations," Kaufman said.

In Goldstein's forward, she punctuates the need for executive and trustee vigilance when it comes to financial management. "One of the recurring themes in Focus on Finance is governance and management. The importance of strong governance and senior leadership cannot be emphasized enough. Governance is an important contributor to the [bond] rating outcome, particularly if the hospital's rating is on the borderline of two rating levels."

About the Author

Kenneth Kaufman, a founder and managing partner of Kaufman, Hall & Associates, Inc., is a proven leader in all areas of financial and capital advisory services. Since 1976 he has provided strategic counsel and guidance to healthcare organizations throughout the country in the areas of financial and capital planning, financial advisory services, and mergers and acquisitions.

About The Governance Institute

The Governance Institute serves as the leading, independent source of governance information and education for the nation's top healthcare organizations. Recognized nationally as the preeminent source for unbiased governance knowledge, The Governance Institute conducts research studies, tracks healthcare industry trends, and showcases governance practices of leading healthcare boards. The Governance Institute is a division of National Research Corporation (NASDAQ: NRCI), a leading provider of improvement and performance measurement services to the healthcare industry.

www.governanceinstitute.com

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