$150K in Annual Margin Impact by Implementing Dynamic Planning
Labor Intensive Planning Cycle & Outdated Budgets
Hospitals and healthcare systems across the U.S. are facing major challenges with the traditional budgeting process. Despite devoting thousands of hours to creating the budget, leaders are left to question its overall value and accuracy once it is complete. Operational leaders and financial planning teams devote up to 30 percent of their overall time throughout the course of their careers to this broken process.
At this small Mid-Atlantic community health system, leaders needed a way to reduce the time and resources devoted to a budgeting process that yielded minimal value. They needed to be able to leverage that freed up time to support a more agile planning process and improve communication, accountability, and trust between finance and operational stakeholders.