| 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.
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Over the next six months do you expect the finances of:
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CFOs’ Organization
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Economy
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Improve
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24 percent
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41 percent
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Remain the same
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59 percent
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38 percent
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Get worse
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16 percent
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22 percent
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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.
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