Most healthcare executives and CFOs expect to maintain or increase revenue.

While 58% of healthcare leaders expect a recession in the coming year, more than nine in 10 expect revenue to remain or increase, according to a JPMorgan Chase poll. Seventy-one percent are optimistic about the results of their company.

Nearly half (48%) of all healthcare leaders surveyed as part of the JPMorgan Chase Business Leaders Outlook 2023 study are optimistic about the national economy in the coming year, compared with 22% of respondents across all industries.

WHY IS IT IMPORTANT

The survey shows not only what CFOs and CEOs think about the economy and the future of their organization, but also how they respond to current financial challenges.

Of the survey respondents, 38% were CFOs and 33% were CEOs or chairmen.

Most executives plan to grow their traditional services, with 52% exploring in-home services, 51% considering virtual care options, and 45% considering remote patient monitoring.

Most often, medical companies adjust to inflation by raising prices (53%), changing procurement (48%), automating (46%), changing the pricing model (36%), prioritizing the most profitable products (32%). %) and strategic accumulation (27%).

Margin maintenance steps include, in order: capital optimization, reconsideration of payer contracts, expansion of the talent strategy, development of a health care plan, and partnership or merger.

Sixty-two percent plan to introduce new products or services.

BIG TREND

The Business Leaders Outlook 2023 survey collected feedback from the leaders of mid-sized healthcare organizations, that is, organizations with annual revenues between $20 million and $500 million.

This year, 791 respondents completed the online survey between November 29 and December 13, 2022. In addition, 405 respondents with a total annual income between $20 million and $500 million were recruited using online survey panels.

JPMorgan Chase launched the annual and semi-annual Business Leaders Outlook survey in 2011.

Twitter: @SusanJMorse
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