Healthcare system chief financial officers say their organizations should look to collaborate with other providers in the community as a means to bring in more revenue, according to a new survey by patient scheduling platform vendor SCI Solutions.
The Seattle-based company surveyed more than 150 CFOs for its report, “CFO Priorities in Today's Value-Based System of Care.”
[Also: What CFOs think about revenue cycle]
By far, alignment with other providers is a top strategy coveted by CFOs, with 90 percent telling SCI that they already have strategies in place to partner with other providers.
As for other strategies, 61 percent said organizations should plan new service lines to drive revenue, while 57 percent said they would focus on growing referrals to build business.
When it came to keeping a check on costs, 59 percent said organizations should focus on making sure utilization is efficient, while 56 percent said health systems should centralize and standardize administrative functions. Meanwhile, 51 percent believe healthcare providers should look to replace manual systems with information technology.
While responding CFOs backed a host of revenue-creating strategies, one thing is for certain: CFOs don’t think buying physician practices is the answer.
In fact, only 22 percent said those acquisitions should be explored as a growth strategy.
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