The role of the chief financial officer at hospitals and other healthcare companies has evolved from managing financial risks to becoming a trusted strategic adviser.
Yet, a majority of CFOs feel they don't have the resources and tools necessary to meet their new responsibilities or adapt to the evolving healthcare landscape, according to a new survey from consulting firm Kaufman Hall.
Only 14% of survey respondents, which included 126 healthcare CFOs and senior finance executives, think they are prepared to manage the financial impact of healthcare reform with their current financial planning processes. In addition, just 19% of participants felt confident in their team's ability to adjust if business circumstances change suddenly. That's certainly a possibility as President-elect Donald Trump and the GOP-led Congress promise to repeal and replace the Affordable Care Act.