For CFOs, this study highlights where the focus should be.
Earlier this year the Healthcare Financial Management Association (HFMA) published its “CFO of the Future” study. For CFOs, this study points to three main takeaways.
The study points out that artificial intelligence (AI) is everywhere — but governance is lagging. According to the study, the majority of health systems are already using AI (finance, revenue cycle, clinical areas), but few have a mature governance structure or fully defined strategy.
It also highlights that new skills and roles are emerging in the C-Suite. CFOs recognize that future success requires skills beyond traditional finance: innovation, digital technology, and payer relations are increasingly important.
Another imperative is strategic technology investment, which is now core to financial resilience.
In the face of cost pressures and revenue uncertainty, CFOs are leaning into technology especially, (AI and automation), to improve efficiency, reduce labor burdens, and optimize revenue cycle operations.But to maximize value, these investments must align with risk management, capital planning, and the organization's long-term financial strategy.
Check out these three tailored key takeaways for CFOs from the study.
Marie DeFreitas is the CFO editor for HealthLeaders.