PODCAST INTERVIEW: HOW HAS THE ROLE OF CFO CHANGED OVER TIME?

Chris Ekrem: [00:00:00] So from your perspective, how has the role of the CFO changed over time? And also if you're looking for a CFO today, let's say, what characteristics would you be looking for?

Rodney Reider: Wow. So when we first entered the picture back then, as you mentioned, we were in orange county and even a little bit before that the CFO was basically the person that said no, They were put in that role of telling everyone that we don't have the money, we can't do it. The other portion of what they would do, they were the arbitrator truth.

We'll find out what the CFO says we can spend or what the numbers should be. And then they were the ones telling you miss the numbers. That was the brackets that we had around everything that they were the ones coming to me. How would we fix it? How we're going to get the numbers down. That was always key.

So as time has gone on, I see the evolution of the CFO being a much more important role that. How am I strategic? How am I [00:01:00] helping the overall overall organization? And that's why even building on what we've shared earlier, the operational piece, that understanding is very important. So they can have that strategic view that contributes and more than just closing the books each month.

So if I'm picking a CFO today, I want a partner. I want an educator. I want an innovator what's going on in the industry of finance, right? AI, how can we build on the artificial intelligence to help take out some of those manual tasks? So people are concerned. We don't have the airs there. They can focus on that higher level of need within the revenue cycle management.

That would be important that not only an educator within the facilities or within the health system itself, but educating on the outside. Being a voice in the committee meeting with the other employers, with employers in the community.

Back to that [00:02:00] relationship building, becoming people or persons of relationship building with other CFOs and other organizations throughout the community that you serve. That'd be important to know how to talk to and, and be aware of the large employers that you can then figure out ways to partner together, to help meet the needs of their employers themselves.

And now. About not just relationship, but how do we spend what's best for that employer and the community. And you've got a person that trusts you and you can tell the story. And then the final thing would be, I would really say helping with the boards, you know, CEO runs all these different board meetings and you have different people coming into present.

I would like to see, and I would, I've seen a few, but that CFO taking that strategic role and we expanding it to be. Stands in front of the board that is really able to present more than just the numbers each time each month when the close occurs. And I could see that being a great role for the CFO because of the power of that position in front of you, their presence changes the tone.

A lot of times, you know, there's an [00:03:00] expectation. The CEO is going to say these things, CFO coming in and adding to that, or even having within his own presentation side, a certain view. I think that adds to the overall organization in terms of what we can accomplish together. Yes, sir.

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