Barbara Gutierrez joined Modivcare, a Denver-based technology-enabled healthcare services organization, in the fall of 2023, and took on the role of CFO at a public healthcare company for the second time.
Modivcare's biggest business is non-emergency medical transport for Medicaid and Medicare members. To diversify its revenue streams, Modivcare acquired two companies in adjacent markets, remote patient surveillance and home care services before Gutierrez arrived. Modivcare is currently focusing on centralizing processes and enhancing operations, which, combined with cost-cutting efforts, could potentially reduce $30 million a year.
But Gutierrez is also very much about people, including Modivcare customers, employees and other stakeholders. One former LinkedIn colleague said she was “a very strong people developer…” [who] It creates high unity and trust while allowing people to grow and build skills under her watch. ”
In the interview Along with Katie Kuehner-Hebert, Gutierrez discusses adjusting priorities, delivering a clear message and leading young financial experts.
How do you ensure that the company coordinates its financial goals with its mission to provide supportive care to its members?
Once your organization's priorities are clearly defined and your teams are fully coordinated, you can develop a financial strategy to deliver high quality, cost-effective products or services. This alignment will effectively direct financial resources towards the most important initiatives, allowing organizations to achieve their goals while maintaining financial responsibility.
With this foundation, financial goals naturally align with a broader mission, creating a cohesive approach that balances the needs and cost considerations of quality service, ensuring sustainability and long-term success. I will.
For example, Modivcare's mobility business offers a range of transportation options, from mass transport to ride sharing services and mileage refunds. The main goal is to provide the most appropriate mode of transport for health plan members based on their individual needs.
Adjusting transport modes to members optimize resources. All individuals receive the most appropriate and cost-effective services and support the organization's overall mission of accessibility and efficiency.
How can you clearly and effectively communicate your financial performance and strategy to stakeholders?
When communicating financial information, it is helpful to present performance on relevant terms and use practical examples. For example, when talking to employees, I compared the company's finances to managing personal credit cards and balancing family budgets. I try to avoid complicated accounting jargon and use visuals instead to explain performance and strategies, and convey a clear and engaging message.
It is also essential to understand which information is most relevant to each stakeholder group. Boards usually focus on high levels of financial activities, but investors are seeking specific updates, such as cash flow and companies. [financial] The lever action. Ultimately, the format of communication and content will be tailored to each audience's needs and level of expertise.
How did mentorship play a role in your career?
I have been extremely fortunate to have the incredible mentor support and guidance from the beginning of my career. One mentor was invaluable. She is a female CEO who embraced new opportunities and supported her transition from the organization when she began her new CFO position. She managed the expanded role demands and provided practical advice on effectively prioritizing my responsibilities.
My experience with the mentor and the lessons they shared encouraged me to pay it upfront for those who started it on the field. Recently I coached university accounting students and provided guidance on her academic background, internships and career launch. I also work with students as a member of the Advisory Board at my alma mater, the University of Denver.
What advice would you give to young professionals looking to reach a leadership position in finance?
Utilizing resources and building connections early can be invaluable. In each role I had in my career, I made the point to finding mentors across the organization to explore new opportunities. Whether you get insights from a veteran financial professional or learn from colleagues in other departments, I have learned a lot from more experienced colleagues. These relationships can have a great impact.
Building these connections will advance your career and expose young professionals to a variety of perspectives. I recommend that they seek the opportunity to go outside their comfort zone. Accepting new responsibilities will reveal interests and talents outside their core field, and ultimately shape them into more versatile and effective leaders.
