At the Becker's Hospital Review CEO Strategy Roundtable in Chicago on Nov. 5, Holly Carnell, JD, an associate with McGuireWoods, moderated a panel on the evolving role of the CIO in the healthcare leadership space.
1. From technology to strategy. Historically, the CIO position has been regarded as technology-centric, while this remains a core focus of the role, it is now shifting towards a more business and strategy focused drive. "We are all bound to technology, even at the bedside, but CIOs are becoming more strategic and beneficial for healthcare organizations. We need IT governance," said Jaime B. Parent, MS, MT, (SCP), VP of IT operations and associate CIO, Rush University Medical Center.
"A CIO can be looked at as the chief innovation, information or infrastructure officer, but if we don't keep up it will stand for 'career is over,'" said Dave Garrett, senior VP and CIO of Novant Health.
2. Defining ROI in health IT. Health IT expenditure has skyrocketed in recent years. "Capital expenditure for IT went up more than 60 percent in two years, while overall healthcare spending only grew 2 percent," said Paul Merrild, vice president, enterprise with athenahealth. "We know in our client base, they get paid 30 percent faster and 6 percent more. Identifying those sentinel metrics that actually matter is essential."
"If you are a CIO you want [health IT] to be an investment, not an area of cost containment, otherwise you are just another number on the ledger for cutting costs," said Mr. Parent.
3. Recruiting and retaining talent. Health IT is a demanding area in healthcare and CIOs need the support of a solid staff. "Some staff are feeling pretty burnt out," said Gretchen Tegethoff, CHCIO, FHIMSS, CPHIMS, CIO and Principal, TechExec Group, board of trustees member, CHIME. "We can hone in on the millennials. The key is to be creative in retention and all-star recruiting efforts."