(Part 3 of a 3-part blog series) Preparations for the 2018 budgeting process are underway in financial institutions. Few people relish the experience, which is often characterized by long hours and vast differences between the future financial performance executive stakeholders want and what management can deliver. Aligning strategic plans with tactical plans and associated budgets often does not occur or the linkages among these pieces are weak.

This article in the June issue of hfm magazine describes a systemwide assessment performed by one health system in preparation for comprehensive strategic cost transformation.

Key insights into BCU's approach to profitability reporting, and interesting ways to visualize and better understand performance.

Organizations should assess current budget processes to better understand their general approach and potential shortcomings.

Kaufman Hall Vice President Jay Spence discusses controlling labor costs while ensuring high-quality care in this article in the May 20, 2016 issue of Healthcare Finance.

Finance teams need an accurate and consistent methodology to analyze profitability and performance. Learn more in our article on utilizing funds transfer pricing.

Best practices for creating and supporting a high-functioning cost accounting and decision support team.

As community bankers evaluate the most effective ways to achieve their profitability goals, the importance of calculating and tracking funds transfer pricing (FTP) should not be...

The banking industry is full of hope with expectations of higher interest rates and decreased regulation. However, banks and credit unions still find themselves mired in one of the most...

Use of advanced techniques and tools with the right capabilities can help executives track and balance interdependent priorities—all while managing costs and optimizing care quality. This article describes how to effectively convert strategy to actionable and sustainable operational initiatives.

In this final blog of the series, I explore the importance of leveraging such information to improve the overall customer experience at your institution. Read more!

Since the financial crisis, the banking industry as a whole has been reporting record profits for several quarters, at least in terms of dollar figures. Unfortunately more meaningful measures of bank profitability–such as average return on equity, average return on assets, and net interest margin–have remained depressed or stagnant.