May 20, 2020
COVID-19 Threatens Health Systems with New Financial Realities
COVID-19 has placed significant stress on an already overwhelmed healthcare system. To date, the focus has been on the front lines – the healthcare workers and caregivers who risk their own health to treat patients afflicted with the disease. However, the pandemic will have lasting implications on the financial condition of all health systems. Healthcare leadership teams have begun to navigate these challenges but they will be faced with many difficult decisions in the months and years to come. How will your organization weather this storm?
Now is the time to act – to plan and to position your organization for long-term success. We believe that health systems should adopt a holistic approach to their investment programs to create long-term financial flexibility. In our paper “Nonprofit Healthcare – Investing with an Enterprise Risk Mindset,” our healthcare team explores some of the challenges faced by nonprofit healthcare providers, the complexities associated with managing multiple investment pools with varying objectives and stresses the importance of adopting an enterprise – risk mindset.