{"id":1434,"date":"2015-10-05T12:10:53","date_gmt":"2015-10-05T12:10:53","guid":{"rendered":"http:\/\/www.medicalbillingstar.com\/blog\/?p=1434"},"modified":"2017-02-13T07:37:11","modified_gmt":"2017-02-13T07:37:11","slug":"the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic","status":"publish","type":"post","link":"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/","title":{"rendered":"The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic]"},"content":{"rendered":"<p>We know the evolving role of CFOs in the healthcare industry. There are situations which have forced the <a href=\"https:\/\/www.billingparadise.com\/blog\/2016\/12\/29\/11-major-physicians-challenges-to-retain-in-house-billers\/\">executives to make such decisions like changing the vendor<\/a>, attritions and outsourcing one or more of their processes. There could be ample reasons like transition to value-based model, slow payer procedures, low Medicare and\/or commercial payer reimbursements, ICD-10 etc.<\/p>\n<p>Let me break this down into a data driven answer but before I want to share with you what medium and large healthcare organizations believe<strong>:<\/strong><\/p>\n<p><span style=\"color: #993366;\"><strong>What do CFOs of medium healthcare organizations believe?<\/strong><\/span><\/p>\n<p>They make decisions as to clinical efficacy first and then cost management.<\/p>\n<p>If a service is too costly to keep, there is consideration to drop the service as it deters from other services which are accretive to a positive margin.<\/p>\n<p><span style=\"color: #993366;\"><strong>What do CFOs of large healthcare organizations believe?<\/strong><\/span><\/p>\n<p>They focus on key opportunities for improvement<\/p>\n<p>They put sufficient resources behind efforts to implement and hardwire improvement.<\/p>\n<p>They don\u2019t try to do everything at once.<\/p>\n<p>Here are some facts and surveys which highlight the financial challenges of our healthcare industry leaders:<\/p>\n<p>Click on the image below to enlarge:<\/p>\n<div id=\"attachment_1435\" style=\"width: 810px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.medicalbillingstar.com\/resources\/critical-role-of-hospital-cfos.html\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1435\" class=\"wp-image-1435 size-full\" src=\"https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2015\/10\/Critical-Role-of-CFOs.png\" alt=\"A data driven answer\" width=\"800\" height=\"4334\" srcset=\"https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2015\/10\/Critical-Role-of-CFOs.png 800w, https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2015\/10\/Critical-Role-of-CFOs-189x1024.png 189w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><p id=\"caption-attachment-1435\" class=\"wp-caption-text\">The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic]<\/p><\/div>\n<!-- Begin Yuzo --><div class='yuzo_related_post style-1'  data-version='5.12.75'><!-- without result --><div class='yuzo_clearfixed yuzo__title yuzo__title'><h3>Related Post<\/h3><\/div>\n\t\t\t\t\t\t  <div class=\"relatedthumb \" style=\"width:125px;float:left;overflow:hidden;\">  \n\t\t\t\t\t\t\t  \n\t\t\t\t\t\t\t  <a  href=\"https:\/\/www.medicalbillingstar.com\/blog\/top-5-reasons-for-claim-denials-you-cash-in-on-your-medical-practice\/\"  >\n\t\t\t\t\t\t\t\t\t  <div class=\"yuzo-img-wrap \" style=\"width: 125px;height:90px;\">\n\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t<div class=\"yuzo-img\" style=\"background:url('https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2014\/07\/Top-5-reasons-for-claim-denials-150x150.png') 50% 50% no-repeat;width: 125px;height:90px;margin-bottom: 5px;background-size: cover; \"><\/div>\n\t\t\t\t\t\t\t\t\t  <\/div>\n\t\t\t\t\t\t\t\t\t  \n\t\t\t\t\t\t\t\t   <span class=\"yuzo__text--title\" style=\"font-size:13px;\">Top 5 Reasons For Claim Denials! 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There are situations which have forced the executives to make such decisions like changing the vendor, attritions and outsourcing one or more of their processes. There could be ample reasons like transition to value-based model, slow payer procedures, low Medicare and\/or commercial payer reimbursements, [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":1437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[114],"tags":[135,207,338],"class_list":{"0":"post-1434","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cfos-corner","8":"tag-healthcare","9":"tag-healthcare-cfos","10":"tag-hospital","11":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic] - Medical Billing Services | Medical Billing Company Checklist<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic] - Medical Billing Services | Medical Billing Company Checklist\" \/>\n<meta property=\"og:description\" content=\"We know the evolving role of CFOs in the healthcare industry. There are situations which have forced the executives to make such decisions like changing the vendor, attritions and outsourcing one or more of their processes. There could be ample reasons like transition to value-based model, slow payer procedures, low Medicare and\/or commercial payer reimbursements, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\" \/>\n<meta property=\"og:site_name\" content=\"Medical Billing Services | Medical Billing Company Checklist\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-05T12:10:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-13T07:37:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2015\/10\/Critical-Role-of-CFOs1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Erika Regulsky\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erika Regulsky\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\"},\"author\":{\"name\":\"Erika Regulsky\",\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/#\/schema\/person\/2fe6a2a7651e28cc54bb3cb406601f71\"},\"headline\":\"The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic]\",\"datePublished\":\"2015-10-05T12:10:53+00:00\",\"dateModified\":\"2017-02-13T07:37:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\"},\"wordCount\":218,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.medicalbillingstar.com\/blog\/wp-content\/uploads\/2015\/10\/Critical-Role-of-CFOs1.png\",\"keywords\":[\"Healthcare\",\"Healthcare CFO's\",\"hospital\"],\"articleSection\":[\"CFO'S Corner\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\",\"url\":\"https:\/\/www.medicalbillingstar.com\/blog\/the-critical-role-of-hospital-cfos-a-data-driven-answer-infographic\/\",\"name\":\"The Critical Role Of Hospital CFOs: A Data Driven Answer [Infographic] - 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There are situations which have forced the executives to make such decisions like changing the vendor, attritions and outsourcing one or more of their processes. 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