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Finance/Pension Committee Meeting
August 21, 2024 @ 2:00 pm EDT
2024 Q3 August – Finance/Pension Committee Minutes
2024 Q3 August – Finance/Pension Committee Minutes
The Lease Transfer Agreement clearly states The FDHA’s responsibility for ensuring that all facilities currently operated by Grady are properly maintained and operated. This mandate goes beyond functioning as a landlord, but rather speaks to an expected standard of care for all. The FDHA and Grady must work collaboratively to ensure that all Grady facilities go beyond the minimum standard of “fit for use” so that the quality of Grady facilities is consistent with that of any other high-functioning hospitals.
The most recent pandemic brought gaping healthcare disparities to light. As Georgia’s larg- est safety net hospital (and only safety net hospital in Metro Atlanta due to the closure of Wellstar Atlanta Medical Center), Grady continues to see increased service demands. Often, the medically indigent and underserved use the emergency room for primary care services. Issues like housing insecurity and poverty place additional strain on the Grady Health System, particularly when other factors (outside of the hospital walls) inform one’s overall wellbeing. As Grady continues to seek ways to improve health outcomes in the community, The FDHA is tasked with identifying innovative ways to support Grady’s efforts and broaden its reach into targeted sectors of the community. This pillar also speaks to The FDHA’s efforts to work collaboratively through grantmaking with organizations whose mission, vision, and work align with The FDHA’s priorities and goals. Through structured strategic partnerships, focused and aligned grant making, and ongoing community engagement, The FDHA will assume a leadership role in the health ecosystem.
There are many stakeholders within the Fulton/DeKalb health ecosystem. Stakeholders can be characterizedas individuals, groups, or organizations whose efforts either inform healthcare outcomes or are impacted by healthcare outcomes. Grady remains The FDHA’s most important partner in this effort and a key stakeholder in the health ecosystem. As the daily operators of all of Grady’s health facilities, hundreds of thousands of patients per year (more than 700,000) are impacted. Maintaining consistent communication and collaboration with Grady’s Executive Leadership Team and staff is central to the success of The FDHA.
Similarly, The FDHA’s alignment and support of Grady’s population health and community engagement efforts are invaluable. As a grantor, The FDHA has an extensive network of community-based partners that work daily to provide direct services and/or support various health priorities. Many of these organizations provide services directly related to social determinants of health (i.e., housing, education, transportation, etc.) thereby adding value to the continuum of care. As The FDHA seeks to embrace a more prominent role as a convener, organizer, and facilitator in the health ecosystem, engaging stakeholders with purpose and intentionality becomes increasingly important.
The FDHA’s obligations, relative to its role as owners of the facilities operated by Grady and stewards of county resources entrusted to Grady, require the requisite skills of staff to execute key administrative and regulatory functions. Establishing and maintaining a staffing model that adequately responds to the needs of the agency is vital. Of equal importance is the establishment and maintenance of high-functioning financial management systems and general operations controls. Critical front and back-office functions should be insulated from staff turnover or shifts in organizational priorities. The provision of ongoing staff development opportunities will ensure that team members stay abreast of industry standards, best practices, and leading-edge opportunities. In addition, the curation and maintenance of financial management best practices ensure organizational accountability and responsiveness.