Capital Planning

What challenges do hospitals face with their capital planning process?

The capital prioritization process is highly political, complex, and without the right governance and accountability, almost impossible to execute

The process of planning for capital investments has long been a challenge for healthcare organizations.

As a result, there is no single tool or blueprint that fits the needs of all organizations or stakeholders. A well-built approach requires a few key factors for success: strong internal governance and accountability; alignment and communication between key stakeholders; and seamless coordination across multiple tools, applications, and processes.

Today, many providers lack insight into capital investments beyond the next year. They cannot define their investments by the dollar amount. They don’t have a list of what is expected to be replaced within the next five years, nor does their operations team. In fact, many organizations are still utilizing email, paper, and/or Excel to plan and manage their capital investments and requisitions.

Creating a strong capital planning process is challenging enough. But for most teams, successfully delivering that refined capital planning process across the organization through change management is impossible without the right tools and approach.

What makes a capital planning process successful?

Leverage the power of the platform to drive a more end-to-end capital planning process

Organizations successful in developing a capital planning process that works often leverage the right tools and processes to gain integration between their capital, operating budget, long-term financial planning, and/or non-financial strategic plan. The result is truly integrated financial and strategic planning, not just standalone processes and systems.

StrataJazz^® helps organizations develop a more complete, informed capital planning process. Boosting efficiency and transparency between clinical, functional, and financial teams, our tool has helped hundreds of health systems integrate data from all softwares and systems in their capital ecosystem.

Drive more efficient capital prioritization

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