A Look at the HFMA's Outlook Survey for Q1-Q2

The Healthcare Financial Management Association (HFMA) recently released its Outlook Survey Report for the second and third quarters of 2023, highlighting some major shifts in what healthcare finance professionals see as pivotal focus areas now and in the coming years. Here are two key insights I found interesting from the report.

Artificial Intelligence Takes Center Stage

The biggest change over the past year is how healthcare now views AI and machine learning as the top trend that will revolutionize the field. 37.8% of respondents chose this option, up from 26% in the previous survey. It seems coverage of advanced AI like ChatGPT made the future potential of these technologies more tangible. As AI capabilities increase in revenue cycle and other finance operations, the expectations and prioritization of AI adoption are evident. 

Clinical Staffing and Tech Readiness Crucial 

Two other numbers that jumped out indicate how much employment and technology trends contribute to leaders' outlooks. Employed clinical staffing increased significantly over the year, as shortages make building stable clinical teams more urgent. According to 13.6%, technology, analytics, and cybersecurity preparedness is crucial to address now.   

Clearly healthcare finance has some major shifts and opportunities ahead in terms of adopting emerging technologies, stabilizing rural access, developing analytical skills, and elevating cost management capabilities.  

This recent outlook survey provides an excellent gauge of what healthcare leaders have on their radars. 

The results from the report were gathered in March and June 2023. Approximately 948 HFMA members submitted responses.