Hospitals and health systems continue to face significant increases in the cost of care, with more than half of hospitals operating at a financial loss in recent years, according to the American Hospital Association. As healthcare organizations move workloads to the cloud, FinOps — a portmanteau of finance and DevOps— can help them manage costs and optimize cloud investments for long-term savings.
Involving stakeholders from finance, development and IT, FinOps provides healthcare organizations with a set of best practices and tools to gain visibility into their cloud costs, optimize spending and align cloud investments with their financial goals.
This enables healthcare organizations operating with tight budget constraints to maximize the value they derive from the cloud.
By adopting FinOps practices, hospitals and health systems can ensure they are only paying for the cloud resources they need, when they need them, which can help them to operate more cost-effectively.
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