News from Executive Forum of the Lehigh Valley
Gary Bender, CEO and founder of The CFO Solution, presented to the Executive Forum of the Lehigh Valley at The Steel Club in Hellertown. Gary's presentation centered around the highest priorities and considerations for CFOs and business leaders. He discussed challenges and opportunities amidst a world shaped by COVID, and he also addressed seasonal issues that decision-makers confront at the end of each year. This includes strategic planning, budgeting, and healthcare expenses.
The topic of health care is consistently a lightening rod issue because as Bender explains, "Healthcare is often the third or fourth largest spend, you would expect the financial executive would have a total understanding of the costs, the drivers, the risks and the alternatives. However, this is usually far from reality as that information is not generally provided and few understand the marketplace, the alternatives or even how to educate themselves." Bender shared best practices and successful outcomes to reduce healthcare expenses for employers and employees. He encouraged the members to take a closer look at health care options and consider out-of-the-box solutions especially now as companies work through the convoluted renewal process.
Specifically, Bender encouraged Executive Forum members to:
- Understand what drives the healthcare insurance costs
- Create knowledge and a process to manage healthcare costs
- Measure it, manage it and monitor—keys to success.
- Outcomes within our group have been reductions over 25% with lower costs to all parties, better employee morale and a huge differentiator to retain AND recruit employees.
Bender concluded his presentation by providing access to resources at his web site - https://thecfosolution.org/. More information about Gary and The CFO Solution there.