'Never waste a good crisis': The keys behind a Louisiana system's financial comeback

'Never waste a good crisis': The keys behind a Louisiana system's financial comeback
Becker's Hospital CFO Report; by Alan Condon; 12/27/24
Franciscan Missionaries of Our Lady Health System, a 10-hospital system headquartered in Baton Rouge, La., achieved a $241 million turnaround in fiscal year 2024 under the leadership of CFO Mike Gleason, who told Becker's the feat was "a total team effort." By reimagining operational strategies, shifting from a holding company to an operating company model, and fostering a culture of innovation and collaboration, the 10-hospital system not only stabilized its finances but positioned itself for sustained growth. Mr. Gleason joined the Becker's Healthcare podcast to discuss the strategies that turned a financial crisis into an opportunity for sustainable growth and strengthened the health system's ability to reinvest in its people and future.