Review, reaction, and projection: the role of the CFO in planning.
In recent years, CFOs have become an integral part of the healthcare organization's strategic planning process. Although not the leader in the process, CFOs should assume a role of review, reaction, and projection. Furthermore, they should oppose any venture that would weaken the financial strength of the institution--whether or not they support the venture on social grounds. The CFO's responsibility in planning is to improve the financial strength of the organization, using support documentation, thorough preparation, and logic. The CEO's concern for community needs and desire to pursue a new business should be tempered by the CFO's financial and economic judgment.
D005376:Financial Management; D005377:Financial Management, Hospital; D006740:Hospital Administrators; D006752:Hospital Planning; D008962:Models, Theoretical; D010934:Planning Techniques; D014481:United States