Ninety-six percent of CFOs surveyed by Black Book Research said digital transformation efforts remain at the forefront of their health systems' financial strategy and operations for 2025-2026.
"This overwhelming consensus indicates that the push for digital innovation is not only ongoing but is also critical to the future success and sustainability of healthcare organizations," Black Book said in a June 21 report.
Black Book surveyed 6,771 health system CFOs, vice presidents of finance and RCM, controllers, business office managers, staff, consultants, and advisors from hospitals and physician practices, according to a June 21 report from the company. The goal of the survey was to identify top-performing vendors in the "highly sought-after financial software, technology platforms, and systems, as well as to evaluate the gaps and urgencies in financial technology administration."
"Our 2024 survey results show a notable trend: instead of buying multiple bolt-on and modular applications, there is a growing preference for choosing a single vendor offering end-to-end capabilities," Black Book founder Doug Brown said in the report.
The shift is driven by the need for "cohesive and integrated solutions that streamline operations, enhance efficiency, and ensure financial stability," Mr. Brown said.
"Providers are realizing that piecemeal approaches no longer meet the increasing demands of the healthcare industry and are moving towards more holistic and robust technology solutions," he said.