Volunteers Of America, Indiana & Ohio’s Tom Kmetz Talks Unit Costs In Service Redesign In Upcoming OPEN MINDS Circle Elite Executive Roundtable
Gettysburg, Pa. (August 28, 2022) Tom Kmetz, Chief Financial Officer (CFO) for Volunteers Of America Indiana & Ohio, will present How Much Do My Services Cost? The Importance Of Unit Costs In Service Redesign — The VOA Case Study at the September 22 OPEN MINDS Circle Elite Executive Roundtable. This roundtable presentation will provide insights for successfully managing case rates of new and future services. Attendees will be able to better ascertain their own unit costs, how to identify opportunities to drive greater margins, and what role unit costs play in designing new services and payment methods.
“As health care provider organizations seek to strengthen their financial position and eliminate needless waste, knowing the unit costs of services becomes imperative,” noted Monica E. Oss, Chief Executive Officer of OPEN MINDS. “This enables companies to branch out into new service lines, program offerings, and expand payment methods with the confidence of financial security.”
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 re-engineer unit costs enables an organization to better achieve financial sustainability. 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, and examine the role of unit costing in service redesign and contracting strategy.
To register for the 1:00 p.m. ET, September 22 event, visit https://register.gotowebinar.com/register/4383240910775822862.
Tom Kmetz, CFO, Volunteers Of America Indiana & Ohio, 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 a strong focus on a performance-oriented culture. Mr. Kmetz has held senior financial positions at several large health care system organizations, including, CFO 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.
The session will be moderated by Ken Carr, OPEN MINDS Senior Associate, who 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, Mr. Carr 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, Mr. Carr was CFO of The Centers, a community mental health center in Ocala, Florida, and led a realignment of the organization’s financial management function.
The September 22 Circle Elite Executive Roundtable is offered as part of a weekly series designed to help executive teams navigate the business, organizational, operational, and culture changes of a market in turbulence during (and after) the COVID-19 crisis. Each one-hour briefing outlines a field-tested approach for recovering from the crisis and developing a plan for organizational sustainability. Once an exclusive benefit to Elite members of the OPEN MINDS Circle, these impactful sessions are now available to all OPEN MINDS subscribers and available on demand.
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/.
About OPEN MINDS
OPEN MINDS is a national market intelligence, management consulting, and marketing services firm specializing exclusively in the markets of the health and human service field that serve consumers with chronic conditions and complex support needs. OPEN MINDS’ mission is to provide payers, service provider organizations, and technology and scientific firms that serve these consumers with the market and management knowledge needed to improve their organizational efficiency and effectiveness.