Six Steps that Turn Health Care CFOs into IT Champions

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Brainstorm with the CIO

For those finance execs who have not yet shifted their thinking about IT from a cap-ex to an op-ex mindset, it's time to give this some serious thought. CFOs may need to do some old-fashioned brainstorming with the CIO about the "right way" to buy when it comes time for a technology refresh or upgrade. Instead of signing a purchase order for a capital project, consider op-ex leases that can save precious capital dollars for physical build-outs or other growth initiatives in the process.

CIOs aren't the only leaders concerned about rapid changes in health care technology. According to Logicalis Healthcare Solutions, the health care practice of Logicalis US, an international IT solutions and managed services provider, regulatory changes and declining reimbursements have caused health care CFOs to adopt a "survival of the fittest" stance in order to keep their organizations healthy and growing. Mergers, acquisitions, and affiliations are on the rise in today's health care market, and with regulatory and reimbursement uncertainties in the air, experts predict M&A activity will only increase this year.

"All of this has put enormous pressure on hospitals and health care systems to better manage costs, particularly when it comes to capital expenditures like information technology," says Ed Simcox, health care practice leader, Logicalis US. "For health care providers to maintain their status as a competitive provider, they need an IT infrastructure that can quickly adapt to changing administrative and patient care needs, plus increasing regulatory requirements, while offering the interoperability necessary for smooth affiliation integrations as they take place."

Logicalis has identified six ways health care CFOs can facilitate IT cost reductions while protecting and improving service-level expectations. With a little creativity and a few sharp pencils, these steps can help transform the relationship between CFO and CIO into one where both execs are working in tandem, finding ways to make IT, at best, a much higher performing business function and, at least, much less costly.


Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

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