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Over 95% of Healthcare CFOs Doubt Their Data Analytics Abilities

February 04, 2019 / Jessica Kent

Ninety-six percent of healthcare chief financial officers (CFOs) think that their organizations need to do more to leverage financial and operational data analytics, according to a report from Kaufman Hall. Moreover, 94 percent of respondents said they have experienced increased pressure to have more insight into how financial results impact business strategy. However, these executives lack confidence in their ability to utilize data to support actionable, informed decision-making in a quickly evolving environment. “Given increasing consumer expectations, new competition, and evolving delivery and payment models, healthcare leaders are facing an unprecedented need to effectively translate sound business strategy into plans that are successfully executed to support long-term sustainability,” the report said. “In this rapidly changing business environment, the role played by CFOs and other senior finance executives is vitally important and has significantly expanded.&rd...