Six Steps that Turn Health Care CFOs into IT Champions

Email     |     Share  
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8
Next Six Steps that Turn Health Care CFOs into IT Champions-5 Next

Re-Evaluate Your Technology Portfolio

Start by conducting a thorough evaluation of the health care organization's current IT portfolio and how those assets were financed when they were acquired. Then, evaluate requested upgrades and enhancements and rank them. Technology choices have changed considerably over time and today there may be cost savings just waiting to be realized. Look for opportunities to upgrade, consolidate and retire IT assets on a regular basis. Newer technologies, "as-a-service" offerings, and managed services outsourced to firms that have created strong economies of scale for managing the organization's IT assets can all play a role in holding down IT costs while allowing IT to maintain or improve internal service level expectations.

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

More Slideshows

PlexxiITRoles0x IT Roles: The New Faces of Network Infrastructure

The newfound emphasis on tools and service integration is shaping a new crop of industry professionals — the actual faces behind the IT infrastructure. ...  More >>

Compliance4-190x128 GRC Programs: Building the Business Case for Value

Experience shows that organizations that manage GRC as an integrated program — involving people, processes and technologies — are more successful in delivering value to their organizations ...  More >>

IT_Man89-290x195 9 Tips for Running a 'Tween' Company

Advice and tips for entrepreneurs and companies that are no longer startups but not quite ready for an IPO, also known as "tweens." ...  More >>

Subscribe to our Newsletters

Sign up now and get the best business technology insights direct to your inbox.