Barbara Gutierrez joined Modivcare, a Denver-based technology-enabled healthcare services organization, in the fall of 2023, assuming the CFO role at a publicly held healthcare company for the second time.
Modivcare’s largest line of business is non-emergency medical transportation for Medicaid and Medicare members. To diversify its revenue streams, Modivcare acquired two companies in adjacent markets, remote patient monitoring and in-home care services, before Gutierrez’s arrival. Modivcare is now focused on centralizing processes and enhancing operations, which, combined with cost-saving efforts, may cut $30 million annually.
But Gutierrez is also very much about people—Modivcare’s customers, employees and other stakeholders. One former colleague on LinkedIn called her “a very strong people developer … [who] creates high cohesion and trust while allowing people to grow and build their skills under her watch.”
In an interview with Katie Kuehner-Hebert, Gutierrez discusses aligning priorities, conveying clear messages and mentoring young finance professionals.
How do you ensure the company aligns its financial goals with its mission to provide members with supportive care?
Once your organization’s priorities are clearly defined and the team is fully aligned, you can craft a financial strategy to deliver high-quality, cost-effective products or services. This alignment ensures that the financial resources are efficiently directed toward the most critical initiatives, allowing the organization to meet its goals while maintaining fiscal responsibility.
With this foundation, financial goals will naturally align with the broader mission, creating a cohesive approach that balances the need for quality service with cost considerations, ensuring sustainability and long-term success.
For example, our mobility business at Modivcare offers various transportation options, from mass transit to ride-share services to mileage reimbursement. The primary goal is to provide health plan members with the most appropriate mode of transport based on their individual needs.
Tailoring the mode of transportation to the member optimizes resources. Every individual receives the most suitable and cost-effective service, supporting the organization’s overall mission of accessibility and efficiency.
How do you clearly and effectively communicate financial performance and strategy to stakeholders?
When communicating financial information, presenting performance in relatable terms and using practical examples is helpful. For instance, when speaking to employees, I’ve compared the company finances to managing a personal credit card or balancing a family budget. I strive to avoid complex accounting jargon and instead use visuals to illustrate performance and strategy and to convey a clear and engaging message.
Understanding what information is most relevant to each stakeholder group is also essential. A board of directors typically focuses on high-level financial activities, while investors seek specific updates, like cash flow or the company’s [financial] leverage. Ultimately, I tailor the format and content of the communication to suit each audience’s needs and level of expertise.
How has mentorship played a role in your career?
I have been very fortunate to have the support and guidance of incredible mentors since early in my career. One mentor was invaluable: a female CEO who encouraged me to embrace new opportunities and supported my transition from her organization when I began a new CFO position. She provided practical advice on managing the demands of the expanded role and prioritizing my responsibilities effectively.
My experiences with mentors and the lessons they imparted inspired me to pay it forward to those starting in the field. Recently, I mentored a college accounting student, offering guidance on her academic path, 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 young professionals aspiring to reach leadership positions in finance?
Utilizing resources and building connections early on is invaluable. In each role I’ve had in my career, I’ve made it a point to seek out mentors across the organization to explore new opportunities. Whether gaining insights from seasoned finance professionals or learning from colleagues in other departments, I’ve learned much from more experienced colleagues. Those relationships can be incredibly impactful.
Forging those connections helps advance your career and exposes young professionals to different perspectives. I recommend they seek opportunities to step outside their comfort zones. Embracing new responsibilities may reveal interests or talents outside their core field, ultimately shaping them into more versatile and effective leaders.
