Labor challenges persist and systems can do more with the data they have, report says

Addressing labor challenges in the healthcare industry continues to be a major challenge and priority into 2023, healthcare professionals said in a report released Feb. 8.

Among 200 such healthcare professionals surveyed in the 2023 "CFO Outlook for Healthcare" report from Syntellis, workforce optimization and productivity monitoring ranked as a major priority both for 2022 and for 2023, skewing higher this year with 98 percent of respondents citing it as either a top or high priority.

Breaking that data further down, employed labor was a top priority for 67 percent of those surveyed, with 61 percent citing contract labor.

Other top and high priorities included cost management and reductions, cash flow management, tying quality measures to cost and revenue, and gaining market share, the report said.

While 89 percent of finance leaders said they were confident in their organization's ability to adjust to changing operating conditions, a large majority (78 percent) said their systems should do more to leverage financial and operational data to inform strategic decisions.

"Healthcare leaders feel positive about their ability to adjust to changing market conditions, but there remains room for improvement when it comes to solutions they use to guide operational, financial and strategic decision-making," said Flint Brenton, CEO of Syntellis Performance Solutions.

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