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Lately, every CEO I talk with tells me how hard it is to run a healthcare organization in 2023. These are people with long experience, people who over time have pushed the right buttons and pulled the right levers to make their organizations successful and to give their communities the care they need.

In conversations with hospitals and health system leadership across the U.S., most management teams express the same goal: get back to breakeven. For many, the road to breakeven will be bumpy with gains and setbacks along the way.

As we climb out of a deep fiscal and monetary hole, it is clear that reversion to a 2019 world is not going to happen. The balance sheet will be the essential bridge between here and a restructured future for healthcare organizations.

True financial reserves are a key element that can help create a cushion of time and incremental support for the occasional failure as an institution seeks to span short-term adversity to reach its future destination.