In a recent poll given by HFMA, 91% of organizations use an annual budget, yet 74% of hospitals and healthcare systems state their budget is out of date within the first quarter of the fiscal year, but spend up to 6 months creating, finalizing, and approving their budget.
Switching to a Rolling Forecast: A Unique Perspective of the Financial Picture
As healthcare organizations navigate the ever changing financial healthcare landscape, they are often faced with a challenge of stale budgets and financial projections. With this challenge also brings to light a leadership culture which, on one hand, can become budget weary by the time invested in the annual plan, and on the other hand, comforted by a “spend to budget” mentality. For some, a foray into static budgeting and into rolling forecasts may just be the change that can breathe fresh air into what can otherwise become stale. Join this webinar to identify tools, decision points, and milestones required for taking this path.