Hospital and health system CFOs will need updated technical expertise amid the industry's move to value-based care and consumerism, according to a recent Black Book survey.
"The CFO's role in managing technology decisions across the health system is shifting the role to requiring an updated set of technical skills confirming the assumption that technology responsibilities will be a primary part of the job descriptions of healthcare financial leaders," said Doug Brown, president of Black Book, in a news release. "Financial managers must have a strong technical background and CFOs will require the data science skills that currently fall under the health system CIO."
Black Book, a market research and public opinion research company focused on healthcare, asked 200 health system CFOs about their responsibilities related to technology.
Sixty-six percent of respondents described themselves as a technology purchase influencer in nonfinance areas of their organization, while 97 percent said they influence technology purchases in finance areas.
Additionally, 44 percent said they use data analytics to help with their organization's technology strategy, and 80 percent reported direct involvement in managing technology in the finance department.
Forty-four percent of respondents said they manage the IT investment budget at their health system.
Read more about the survey here.
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