A majority of healthcare CFOs are anticipating revenue and profitability increases in 2024, according to the 2024 BDO Healthcare CFO Outlook Survey.
The report surveyed 100 healthcare CFOs with organizations with revenues from $250 million to $3 billion or more as of October. The survey was conducted by Rabin Roberts Research, an independent marketing research firm, using Op4G's panel of executives.
Four things to know:
1. CFOs are optimistic about growth in 2024, with 79% expecting a revenue increase. But CFOs realize that these increases may require strategic cost reductions and a focus on revenue cycle management.
2. Ninety-eight percent of CFOs surveyed said their organizations are piloting generative AI uses but need to consider whether their systems are scaling appropriately to capture opportunities while protecting patients.
3. With technology and planned spending on recruitment and training, 47% of CFOs surveyed said labor shortages are a lower risk than last year.
4. Seventy-two percent of CFOs surveyed said dealmaking is on the agenda in 2024, but that CFOs will need to be flexible if continued market uncertainty delays plans for funding, sales or partnerships.