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Home / News & IndustryManaged Care Insight and Analysis
Updated: June 8, 2010
CFOs Don’t Agree On Healthcare’s Financial Health

Grant Thorton, LLP, conducted a survey of healthcare chief financial officers (CFOs) opinion of the economy, uncovering 23 percent of respondents are more concerned with the life of their organization compared to the same time last year.

Twenty-three percent of CFOs stated they are more worried about their organization’s ability to continue, compared to last year, and 46 percent retain the same financial tension; but 31 percent reported being less worried.

Forty-one percent of CFOs polled are expecting the economy to improve within the next six months, but only 24 percent believe it would translate into improved financial prospects for their healthcare organization. A pessimistic 16 percent predict their company will suffer in the following months, while the majority, 59 percent, suspect their companies financial position will remain stable.

"It’s easy to understand why so many healthcare CFOs are unsure about the financial future of their organizations. 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," said Anne McGeorge, Grant Thorton’s national managing partner of the Health Care group.

Over the next six months do you expect the finances of:


CFOs’ Organization

Economy

Improve

24 percent

41 percent

Remain the same

59 percent

38 percent

Get worse

16 percent

22 percent

Respondents contemplated how altering the fees and prices of products and services would improve their financial outcome. Increasing prices was selected by 28 percent of CFOs, and 11 percent have decided to decrease in order to improve revenue.

Address: Grant Thorton, 175 West Jackson Boulevard, 20th Floor, Chicago, IL 60604; (312) 856-0200, www.grantthorton.com.


  This article was taken from:
Healthcare Riembursement Monitor

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