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Healthcare Forums Spotlight: Laurie Beyer
The Q1 Productions Healthcare Forums provide participants the chance to engage with peers and industry experts through intimate group discussions and networking opportunities. One of many professionals to participate in a Healthcare Finance & Revenue Cycle Management Forum is Laurie Beyer of GBMC Healthcare. Read more below to learn about her background, current initiatives and thoughts on industry trends.
How has your career path led you to your current position?
I graduated with a degree in finance with enough accounting classes to sit for the CPA exam. I started my career as a staff auditor with Arthur Andersen in Baltimore, MD. The Baltimore office had a large healthcare practice. I was assigned to many healthcare client assignments, including financial planning and reimbursement. At the three year mark, I was assigned as a loan staff at a Baltimore hospital to assist the Director of Budget and Reimbursement and after a few months, I was offered a permanent position. I spent the next 15 years gaining valuable experience in reimbursement, budgeting, accounting and financial reports, hospital and physician revenue cycle, revenue cycle, strategic planning and internal audit. Because of this experience and my reputation in this market, I was recruited in 2006 to become a CFO for a 130-bed hospital in Northeast Maryland. I spent 11 years there and was recruited in 2017 to become EVP/CFO for GBMC Healthcare, a 330-bed hospital with 300+ providers and $600 million in Towson, MD.
Can you please give a brief description of your job title and what that entails?
I am responsible for all financial reporting for our organization, including the hospital, Physician Company and Elder health subsidiary. I oversee accounting, budget/reimbursement, payroll accounts payable, billing and collections, patient registration, health information management, coding, payor contracting, internal audit, compliance, utilization review (nurses), treasury management and malpractice captive, all for-profit operations. I also serve as staff on the Finance Operations, Investment Committee and Audit Compliance Committee (committees that report to our Board of Directors).
What are you focusing on now in the Healthcare Finance industry?
- How to maximize opportunities to earn Incentive Awards for Quality in our employed practices
- How to maximize revenues outside the four walls of the hospital (such as imaging JV, private duty nursing, physical therapy, outpatient infusion and expansion of ophthalmology services in our community)
- Obtainment of the Baldridge Quality Award
- Consolidation of medical surgical supply distribution services
What excites you about the future of the industry?
- How we take advantage of Artificial Intelligence in the financial reporting and billing areas (at a minimum)
- Establishment of an owned retail pharmacy on our campus to provide specialty drugs, meds to beds and to service our employees, visitors and medical staff
- Implementation of new ERP system (including finance, supply chain and HR)
Why do you think Healthcare financial professionals should attend a Q1 Productions forum?
Healthcare professionals should attend for the ability to network and share ideas with healthcare finance professionals and learn about products and services that could benefit your organization.
Learn more about upcoming Healthcare Forums in your region and express your interest today for the chance to participate in discussions with industry experts like Laurie Beyer.
Allison McIlvain is a Content Marketing Associate for Q1 Productions, where she is responsible for campaign planning, content development and executing marketing projects for the life sciences, pharmaceutical and food and beverage industries.