This article appears in the February 2012 issue of HealthLeaders magazine.
Almost half of healthcare finance leaders (42%) feel the healthcare industry as a whole is on the wrong track, and more than a third (34%) are undecided as to whether healthcare is on the right or wrong track, according to the HealthLeaders Media Industry Survey 2012.
As finance leaders prepare for Medicare and Medicaid reimbursement cuts and the demanding transition year leading to the 2013 full implementation of meaningful use, ICD-10, and other healthcare initiatives, the daunting nature of the big picture may be influencing their collective opinion of 2012.
"CFOs will feel less positive in 2012 because there's so much unknown. It doesn't seem like we'll know where we're going until much later in the year. With everything else we have to deal with, we are going to be faced with sequestration and the elections. These are also going to have a significant impact on our futures," says Ann Pumpian, senior vice president and CFO at Sharp HealthCare, a not-for-profit integrated regional healthcare delivery system based in San Diego.
Where do finance leaders place the blame for the uncertainty they feel and the overall healthcare industry mess? According to the survey, the government (48%) and health plans (21%) are to blame. Finance leaders are more likely to point the finger at the government than the 40% of respondents in the Overall Cross-Sector Report.