This Industry Outlook is a portion of the 2018 Arizona CFO Spotlight Survey Report
The 2018 Arizona CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the health care segment here in terms of growth, risk factors, strengths and trends.
Health care leaders are concerned about slowing growth, with 28.6% anticipating decreased revenue for 2018.Health care organizations are experiencing a major cultural shift in the workplace as they try to sustain positive working environments amidst constant change. To retain workers, CFOs say they are providing more flexibility in scheduling, child care options, and increases to the minimum wage. Alternatively, about 33% of health care organizations are reducing paid vacation time to offset costs from Arizona's new paid sick leave policy. Leaders acknowledge that attracting and retaining quality talent is the biggest risk factor to the organization's reputation, and they are exploring a variety of staffing options along with automation such as online do-it-yourself patient tools and portals.
"We have focused on savvy contract negotiations to make sure we are getting paid enough to cover our costs."
Average Number of Employees
Revenue in 2018
- 14% We will increase significantly 14%
- 43% Will increase slightly 43%
- 29% Will decrease slightly 29%
Top Areas of Focus
- Stablize costs/manage debt
- Changes in compensation structures
- Workplace culture
- Continuous innovation
- Remote workers and automation
43% somewhat optimistic
not a problem