Healthcare CFOs on Digital Transformation

Posted by Infinit-O on Aug 5, 2019 9:00:00 AM

Topics: Healthcare

Healthcare CFOs on Digital Transformation

In all industries, especially in healthcare, innovation is the name of the game. It is now much easier for healthcare providers to take care of their patients, from diagnosing their symptoms to claims submissions. Innovations are still being made to streamline doctors’ work, optimizing systems, reducing errors, and lowering costs.

According to a financial leadership survey for healthcare providers and organizations, 79% of CFOs and 89% of all other senior officers plan to increase their investment in digital transformations by 2020.

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However, many healthcare financial leaders say that they do not have substantial metrics for IT ROI. Some of the challenges that hinder these organizations from improving their IT are systems integration and upkeep of RCM financial legacy systems. 

Studies show, however, that EHR implementations often take precedence over other important IT projects such as RCM system upgrades.

But financial leaders know that they should work on IT innovations. They are aware that the adoption of new technology means: 

  • Better patient data quality and mining
  • Reduced denials
  • Faster claims processing
  • Minimized billing errors
  • Reduced operational costs
  • Streamlined financial reporting

Read More: Leveraging OASIS: Improving Home Healthcare Performance Outcomes

So, when CFOs streamline their finances and automate their processes, where will their efforts lead their companies? 

There are big trends that healthcare providers can embrace, such as: 

  • Big Data: lower medical errors and provides more accurate staffing, thus reducing costs and staff turnover
  • Blockchain: provide doctors with a complete medical history and improve the transition of patient files from doctor to doctor
  • IoT (Internet of Things): connect with people who have apps and tools to monitor their health indicators.

Healthcare CFOs must now make the move to digital transformation, both for their company and their patients. Hiring a healthcare solutions partner with a pool of experts both in the healthcare and finance industries can boost a company’s growth.

Infinit-O is a trusted healthcare solutions partner that can help you build and operate a dedicated team of well-trained healthcare & RCM professionals specifically designed for your unique needs, with cost savings of up to 70%. We can help you meet your goals, whether they be growth, better productivity or simply bottom line cost savings. With access to excellent healthcare talent who use cutting-edge technology, we provide some of the best strategic solutions for your business. We are ISO-certified, HIPAA- and GDPR-compliant, so your company and patient data are safe with us.

When you’re ready to grow, think Infinit-O!

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