Page 12 - CANNABIS NEWS FLORIDA APRIL 2022

Cover Story: Six Ways to Combat

Distress in Healthcare

Continued from page 1 uidity, exacerbating your financial difficul-
3. Bond Covenant Violations ties. You may be able to switch from physi-
42% of healthcare CFOs have defaulted cian-preferred products to other, most
on their bond or loan covenants in the past cost-effective products for the time being.
12 months. Interestingly, 25% say they Switching medical suppliers may even
have not defaulted but are concerned they save you money in the long run.
will default in the next year. How can you 6. Patient Volume
avoid violations? The first step to take is to 39% of healthcare CFOs are making
meet with your financial advisors, espe- investments to improve the patient experi-
cially if you are worried you’re going to ence. How can you satisfy your patient
default on your bond or loan covenants. stakeholders? As hospitals and physician
You want to get their counsel before you practices get closer to the new normal of
default so you can prepare your organiza- care, patients are returning to procedures
tion and mitigate the damage. Ideally, they and check-ins they put off at the height of
can help you avoid a default altogether. the pandemic. Patients want a comfortable
4. Supply Chain Strains experience that will keep them coming
84% of healthcare CFOs say supply back, including a safe and clean atmos-
chain disruption is a risk in 2022. How can phere inside offices. They also want access
you mitigate these risks? Supply chain to frictionless telehealth and patient por-
shortages are a ubiquitous problem across tals for those who don’t want to or can’t
industries right now, but not all of the travel to receive care. Make sure your
issues are within your control. Focus on organization meets these requirements.
what is, including assessing your supply Investments can also go toward improving
chain costs and seeing where you can find health equity strategies to ensure everyone
the same or similar products for lower across communities is receiving the same
prices. Identifying alternative suppliers level of care.
may end up saving you a lot of frustration,
especially if your regular suppliers run Steven Shill, Partner and National Leader,
into disruptions. The BDO Center for Healthcare Excellence &
5. Increased Cost of Resources Innovation, can be reached at
39% of healthcare CFOs are concerned sshill@bdo.com or (714) 668-7370.
about rising material costs and expect it
will pose a significant threat to their sup- Contact:
ply chain. How can you alleviate these Alfredo Cepero, Managing Partner
concerns? Price increases for the resources 305-420-8006 / acepero@bdo.com
you purchase including medical supplies,
drugs, technology and more could deplete Angelo Pirozzi, Partner
your financial reserves and strain your liq- 646-520-2870 / apirozzi@bdo.com

West Boca Medical Center Adds Critical Care
Intensivist Program to Enhance Patient Care

West Boca Medical Center is further enhancing its care to some of its sickest patients
with the addition of its Critical Care Intensivist Program. The program consists of a team
of doctors and nurse practitioners overseeing the hospital’s intensive care unit (ICU), 24
hours a day seven days a week. The intensivists are board-certified physicians certified
in the subspecialty of critical care medicine. Dr. Stephen Milan will be the medical direc-
tor of the new program. "I am truly honored to be named the new medical director and
lead our Critical Care Intensivist Program at West Boca Medical Center. This intensivist
program reflects West Boca Medical Center’s dedication to providing patients and our
community to safe and high quality care,” said Dr. Milan. “This also means our hospital
and the community we serve, will always have a dedicated medical specialist caring for
patients who are being treated in our Intensive Care Unit.” Several highly skilled physi-
cians, including Dr. Mark Adelman, Dr. Carlos Gutierrez, Dr. Noah Schreibman, and Dr.
Kenneth Baron, will join Dr. Milan. These intensivists will be working alongside an
experienced nursing team led by director Wendy Dubois.

South Florida Hospital News southfloridahospitalnews.com April 2022 17