Why CFOs Should Lead The Digital Transformation In Healthcare?

Digital technologies offer a wealth of opportunities for healthcare leaders to create value. With their growing significance, CFOs in healthcare need to embrace a corporate policy that drives digital transformation within their organisations, in order to ensure sustainable growth

- Raelene Kambli

Imagine yourself visiting a digitally transformed hospital. At its very entrance you see, a huge screen that guides patients on important information about admission process, OPD services, various healthcare services offered by them, as well as a map of all health clinics, diagnostics and pharmacy centres. The hospital also has a well organised digital patient application and response service system that helps patients to fasten their admission process. You move further to see various clinical departments, diagnostics centres which are up to date with the latest advanced technologies; every single system is digitally driven and backed by AI. Further, you see a comprehensive EHR system that tracks and analyses patient data to provide significant clinical information, You also see a dynamic hospital information system that tracks each and every clinical and nonclinical function within the hospital. Moreover, this hospital is extremely steadfast in customer services, inventory systems, pharmacy activities and more. But the most interesting aspect of this hospital is its financial management and response service system.

Let's enter the CFOs office in this hospital! Take a pause and quickly glance through his desk —clean and paperless. Aahaa, here is his super computer which is constantly fed with information on the current cash flow, operations, inventory updates, payment systems and the scale and pace of all internal and external dynamics that contribute to the hospital's balance sheet. The system is smart enough to also give a heads up on critical areas and possible crisis that can impact profitability, ensuring that the CFO can take immediate action to mitigate the problem in time and save the organisation from a huge loss.

Do you think, that this kind of a digitally hightech hospital system in India is too arty to believe?