Are leaders equipped to lead AI transformation?

Editor's Note

As AI rapidly becomes adopted into healthcare systems, C-suite leaders are front and center to bring technologies into practice. But are they feeling prepared? Not necessarily, according to an HFMA survey report published November 12.

The survey findings showed leaders’ AI skills are emerging, especially surrounding AI competency. But when it comes to AI deployment, confidence numbers go down, especially for CFOs. An expert cited in the survey report suggested that as financial pressures mount, leaders will need to lean into learning and challenge their own assumptions regarding AI deployment in health care, and they will have to do it with external pressures caused by combined challenges of macroeconomic disruption, regulatory shifts and technological transformation.

One key area for healthcare C-suite leaders to innovate with AI, as highlighted in the survey report, is surrounding AI and automation with quoted experts suggesting the ROI for incorporating AI and automated tools is projected to be significant. For example, one savings projection discussed how the healthcare industry could reduce healthcare spending by $1 trillion over the next decade by including AI and automated tools. An important takeaway, per the report, suggested healthcare leaders should focus on strengthening AI fluency for themselves and their teams.

HFMA Healthcare Financial Management Association