Becker’s Healthcare Podcast Brenda McCormick, Chief Financial Officer, Children's Minnesota
Jul 14, 2025
Brenda McCormick, Chief Financial Officer at Children's Minnesota, leads finance, strategy, and innovation in pediatric care. She discusses her team's strategic vision for independence and sustainability amidst workforce shortages and financial pressures. Key topics include innovative approaches to tackle hiring challenges, the development of a three-year plan for operational sustainability, and the impact of high Medicaid patient volumes on resources. Brenda emphasizes the importance of collaboration in enhancing the quality of children's healthcare.
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Brenda McCormick's Background
- Brenda McCormick joined Children's Minnesota as CFO in 2019, coming from a global medical device firm and consumer foods sector.
- She manages finance, strategy, supply chain, real estate, and innovation closely with clinical leadership.
Strategic Planning Drives Big Decisions
- Strategic planning post-pandemic helped Children's Minnesota define a clear vision for independence and financial sustainability.
- This included a SWOT analysis of services and a big decision to implement the Epic EMR system.
Financial Pressures in Pediatric Care
- Major financial pressures stem from Medicaid underpayment, concentrated commercial payers, workforce challenges, and rising costs.
- These factors combine to squeeze margins and complicate sustaining quality pediatric care.