CIOs Win CFO Support for AI by Highlighting Long-Term Value
Becker's Hospital Review
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Contributed by: Kate Gamble
Summary
Health system CIOs are effectively demonstrating the value of artificial intelligence (AI) to CFOs by focusing on potential long-term returns on investment and measuring outcomes. Michael Mainiero, from Catholic Health, advocates for a methodical approach that begins with structured hypotheses to evaluate AI project feasibility and their operational impacts. Collaborating with his CFO, he has implemented robotic process automation to enhance efficiency in the revenue cycle while emphasizing manageable, criteria-based project scopes. Similarly, St. Luke’s Health System CIO Reid Stephan encourages viewing AI initiatives as strategic investments aimed at cost avoidance and risk mitigation, highlighting a specific AI tool that has improved physician workflow and coding accuracy despite not providing immediate financial returns.
