In the increasingly complex healthcare landscape, finance leaders must balance short term imperatives and longer term business objectives simultaneously. Having business insight, the ability to plan continuously, and empower decision makers at every level of the organization with data and insights is key to building resilient organizations.
The role of the CFO and financial planning leaders is shifting to better support organizations for the future. Having the tools and technology for data-driven decision making is enabling organizations to plan, pivot, and build strategic technology partnerships that support business continuity, growth, and ongoing changes in the industry.
Strategic Role of the CFO
Finance leaders have become strategic partners by reaching across their organizations to learn about business pain points, including clinical perspectives, human resource constraints, and supply chain challenges. Especially in times of crisis and uncertainty, it’s become increasingly important for the business side and the clinical side of healthcare to collaborate more closely and share insights. For example, looking to balance cost, quality, and outcomes, business leaders are using data to determine if high-cost equipment leads to better patient outcomes. With the CFO leading the way, arming the clinical teams with this type of information will help drive data-driven