Healthcare CFOs May End Up in Sales; Here’s Why

Finance is the shared language all businesses speak — especially those engaged in commercial relationships.

Against that backdrop, today’s healthcare chief financial officers (CFOs), once primarily responsible for managing budgets, compliance and financial reporting, must also act as strategic business leaders and translators.

One of the most unexpected yet critical shifts in this role is the CFO’s increasing involvement in business-to-business (B2B) sales. In an era of rising costs, complex reimbursement models, and value-based care, healthcare CFOs are becoming key drivers in forging partnerships, negotiating contracts and ensuring the financial sustainability of their organizations.

“The complexity of doing value-based care is deeply rooted in financial decision-making,” Mark Flakne, CFO at Included Health, said during a conversation for the PYMNTS executive series, “A Day in the Life of a CFO.” “Over time, I expect CFOs to be more involved in sales conversations — maybe even CFO-to-CFO discussions between healthcare organizations.”

Flakne added that he believes finance leaders are uniquely positioned to drive business development because they understand both cost structures and market needs.

“Traditionally, the CFO role was very accounting-focused — making sure the books were straight and costs were managed,” he said. “That will always be table stakes. But in the future, CFOs will be playing a more direct role in business development and structuring financial arrangements.”

Modern CFOs Key to Enterprise Growth

In today’s 21st century landscape, the financial health of a healthcare organization depends on more than just patient or member revenue. Modern CFOs are increasingly focused on diversifying revenue streams by securing partnerships with insurers, employers, technology vendors and more ecosystem stakeholders. These deals require CFOs to take on a sales mindset: building relationships, pitching the value of their organization’s services and negotiating favorable terms.

At Included Health, Flakne stressed that he is driving financial strategy with a strong emphasis on growth through strategic sales and partnerships. His approach focuses on three key areas: operational excellence, expanding reach and services, and finance as a sales function.

“You’ve got to be really, really good at what you do,” he said. “Otherwise, you don’t get the privilege to do more for the industry, your customers, or, most importantly, the members.”

Flakne sees navigation and virtual care as two essential pillars of Included Health’s offerings, but he’s also thinking beyond them.

“We all know there’s a lot to healthcare — from inpatient surgery to home care,” he said. “The ability to bring more of Included Health’s services into members’ lives is something we’re actively doing today.”

But it’s the impact of finance teams that can not only understand financial models but also communicate their organization’s value proposition effectively to corporate decision-makers where Flakne sees the biggest impact.

“Our finance background gives us a common language and structure that permeates different functions,” he said. “That’s how we can help shape holistic decisions that impact the entire company … We’re providing services to a broad population and engaging with commercial buyers. CFOs are going to be key players in shaping the financial structures that make value-based care successful at scale.”

Unlocking the Benefits of the CFO’s Growing Toolkit

To effectively balance traditional financial oversight with the growing role of strategic business responsibilities, CFOs are increasingly embracing and leveraging emerging technologies like artificial intelligence (AI) and automation.

“AI has a unique ability to always be there listening, keeping track, handling administrative tasks,” Flakne said. “That’s crucial in healthcare, but also in finance.”

He envisions AI playing a critical role in streamlining financial operations, eliminating repetitive tasks, and enabling finance teams to focus on strategic decision-making.

“It’s about working at the top of our license,” Fakne said. “If we use AI and automation to get through the workload that takes up so much time, we free up space for reflection, insight and real business impact.”

As healthcare companies develop more sophisticated financial models, CFOs will need to act as business advisors rather than just financial stewards.

“You need a finance team that understands the mission of healthcare and keeps the member first,” Flakne said. “It’s easy to over-rotate to dollars and cents, but at the end of the day, this is about people needing care.”

“The more we as finance leaders understand clinically what’s happening, the better we can shape business decisions,” he added. “We won’t become doctors, but we need to integrate clinical insights into our financial models.”