The fast changing business climates have forced many healthcare providers to move from annual to quarterly and in many cases monthly planning cycles. Financial and operational plans quickly become obsolete when patient loads increase or decrease because of influenza or other pandemic outbreaks, stressing staff's and financial resources. As a result, healthcare providers need to be able to quickly re-forecast to obtain a more accurate financial picture of the future. Additionally, large capital projects are common place and understand the total financial picture with the ability to project balance sheet and cash flow into the future are a must.
Historically, the planning process puts the entire organization under pressure, with budgeting cycles taking many weeks and sometimes months. The Finance department, which own and maintains the planning templates and process, must update and redistribute the templates and performance reports, a time consuming and cumbersome task.
Profitbase Budgeting and Planning
Profitbase budgeting and planning solutions streamlines the planning process by integrating financial and operational planning with performance analytics in one system to speed deployment, improve accuracy and reduce planning cycle times from weeks or months to days .
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