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by HFMA, 91% of organizations use an annual budget, yet 74% of hospitals and healthcare systems state their budget is out of date within the first quarter of the fiscal year, but spend up to 6 months creating, finalizing, and approving their budget.
Best Practices in Leveraging Rolling Forecasting and Management Reporting in Your Dynamic Planning Process
Strata and John Muir Health have partnered together to transition from a traditional budgeting process to a dynamic planning process. Through this transition, they have established a process and cadence to ensure accountability and achieve their financial targets. Learn more about this partnership and how Strata and John Muir have transitioned the culture from preparing annual budgets to rolling forecasts and focusing on financial metrics all the way from the Board to department level.
1. Learn about one approach in starting and continuing your journey to Advanced Planning
2. Understand the connection between Management Reporting and Rolling Forecasting
3. Learn about continuing the evolvement of the Advanced Planning Process