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Renaissance CFO emerges in response to market pressures.

Type
Published Article
Journal
Healthcare financial management : journal of the Healthcare Financial Management Association
Publication Date
Aug 01, 1995
Volume
49
Issue
8
Identifiers
PMID: 10144173
Source
Medline
License
Unknown

Abstract

A 1995 survey of chief financial officers (CFOs) in healthcare organizations finds that as the healthcare industry reshapes itself through mergers, acquisitions, and downsizing, the CFOs of the mid-1990s also are reshaping themselves into "Renaissance CFOs." They are acquiring new skills and expertise beyond the traditional area of finance. About one-third of the CFOs who took part in the February 1995 survey, which updates similar surveys in 1992 and 1990, said they are working to enhance their knowledge of managed care because they expect to assume responsibility for managed care as part of their expanding CFO responsibilities. Other new areas survey respondents said they expect to oversee before the decade's end are financial costing and pricing and physician relations. The 1995 CFO survey was commissioned by HFMA and Executive Risk Management Associates, Inc., and was conducted by Elrick & Lavidge, Inc. Previous CFO profile surveys have included analysis of CFO compensation data. This year, however, a separate, more indepth survey of CFO compensation was commissioned by HFMA; the findings of this survey will be presented in the October issue of HFM.

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