How Much Do My Services Cost? The Importance Of Unit Costs In Service Redesign — The VOA Case Study
September 22, 2022
This roundtable is part of The OPEN MINDS CFO Consortium developed to provide executives with the tools and abilities to strategically assess and position their organizations for long-term sustainability and growth. The consortium is open to all Elite members, to learn more and sign up, visit https://openminds.com/store/cfo-consortium/.
Unit costs are a key strategy for managing risk associated with alternative payment methods, where revenue is based on outcomes instead of volume. Thoroughly understanding how to calculate and reengineer unit costs enables an organization to better achieve financial sustainability. Do you know your unit costs? Have you analyzed them to identify opportunities to drive greater margins? What role do unit costs play in designing new services and new payment methods? This roundtable presentation featuring Tom Kmetz, Chief Financial Officer, Volunteers Of America Indiana & Ohio will provide insights for successfully managing the case rates of new and future services.
Executive attendees of this session will learn how to:
- Understand the priority of managing unit costs when implementing value-based alternative payment models.
- Discuss the steps for calculating unit costs.
- Examine the role of unit costing in service redesign and contracting strategy.
Tom Kmetz, Chief Financial Officer, Volunteers Of America Indiana & Ohio
Tom Kmetz oversees the full range of accounting, finance, and investment management functions, while providing strategic recommendations to ensure all financial solutions positively support the two Volunteers Of America state organizations’ evolving strategy, vision and mission. He brings extensive experience transforming financial and business practices to align with the mission of achieving organizational health and growth with strong focus on a performance-oriented culture. Mr. Kmetz has held senior financial positions at several large healthcare system organizations, including, Chief Financial Officer and lead financial executive at Mid America Clinical Laboratories, LLC, a large clinical laboratory with over 30 Patient Service Centers. Mr. Kmetz is a Certified Public Accountant with a degree in Accounting from Purdue University.
Ken Carr, OPEN MINDS Senior Associate
Ken Carr brings more than 20 years of finance, technology, data analysis, and reporting experience in the health and human services field to OPEN MINDS. In his role of Senior Associate with the OPEN MINDS consulting practice, he has served as a subject matter expert leading numerous engagements in strategic planning, merger and acquisition prospecting, business process improvement, financial analysis of services lines, and technology selection. Prior to joining OPEN MINDS, Carr was chief financial officer of The Centers, a community mental health center in Ocala, Florida, and led a realignment of the organization’s financial management function.
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