CFOs in the healthcare industry are less optimistic about the state of the U.S economy and their own company's financial prospects over the next six months than their counterparts in other industries, according to a new survey.
Chicago-based audit and tax advisory firm Grant Thornton LLP conducted the survey from March 22 through April 5, 2010. Respondents included 496 U.S. CFOs and senior comptrollers, 37 of which were from healthcare companies.
Only a quarter of healthcare CFOs (24 percent) thought their own company's financial prospects would improve (versus 52 percent for all respondents), while 41 percent thought that the U.S. economy would improve over the next six months (versus 44 percent of all respodents).
Sixteen percent of healthcare CFOs thought the economy would come out of recession in 2010 (versus 28 percent of all respondents).
"It's easy to understand why so many healthcare CFOs are unsure about the financial future of their organizations." said Anne McGeorge, Grant Thornton's national managing partner of the Health Care group. "Much of the recently enacted healthcare reform legislation has yet to take effect, but one thing is certain: there will be a profound impact on hospitals and most healthcare providers."
Additional survey results found that, with regard to compensation and benefits, healthcare CFOs are slightly ahead of their counterparts in planned salary increases (19 percent versus 15 percent) and 401(k) matches (6 percent versus 5 percent), but behind in planned bonus increases (3 percent versus 8 percent).