The current healthcare landscape is calling for more collaboration, and possibly the most important partnership is that of the CIO and CFO. With new IT becoming a pressing necessity, it's crucial both professionals understand the ins and outs of IT spending.
1. Gain internal alignment. The number one thing CFOs should communicate to CIOs is the importance of gaining internal alignment of the blocking and tackling - having good budgeting processes in place and good relationships with their internal clients or users, like doctors and nurses who need services from IT." Healthcare organizations have become better at getting everyone on the same page but understanding departmental needs will help to create a true budget forecast cycle so you have some visibility into what those needs are and what they may cost.
2. Benchmark your spending. It's becoming much more common place to benchmark spending.
3. Don't get stuck in 'vendor lock.
4. Question your maintenance charges.
5. Stay on top of going rates for outside services.
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