Adapting to Cyber Risks: How Healthcare CFOs Can Protect Liquidity
Cyberattacks on the healthcare industry are impacting up to $100M a day in cash flow. The most recent attack on Change Healthcare, a critical player in healthcare financial systems, was forced to take its systems offline due to the cyberattack. As a result, providers faced delays in processing claims for payment, which significantly impacted cash flows. This also puts CFOs in an untenable position and their companies at risk of liquidity shortages, missed payments, overdrafts, and an over-reliance on costly short-term debt to fill liquidity gaps. However, a Treasury Management System (TMS) can help you prepare and navigate such external disruptions.
GTreasury’s Treasury Management platform, the most comprehensive in the industry, automates connectivity with critical operational data from banks and ERPs to gain a comprehensive view of your cash, payments, debt, derivatives, investments, and exposures. This visibility enables CFOs to forecast and scenario plan for operational disruptions and confidently navigate them when they occur.
What healthcare CFOs gain from adopting GTreasury:
- Centralized, full cash visibility from banks and ERPs using GTreasury’s ClearConnect connectivity suite.
- Immediately compile current cash positions and payment flows to forecast and act on current and “what-if scenarios.”
- The most comprehensive, all-in-one Treasury Management platform on the market; spanning cash, payments, netting, exposures, debt, investments, derivatives, audit, hedge accounting and reporting.
- Over 30 years of experience serving hundreds of clients’ mission-critical financial and operational needs.
Whether you are currently dealing with operational impacts due to recent cyber-attacks or want to better prepare yourself for future resilience, GTreasury’s team is here to help you confidently navigate an uncertain future.
Written by ayla-harvey