The COVID-19 pandemic completely altered the healthcare industry, forever shifting patient volume trends, patient expectations, and reliance on digital and other alternative healthcare models. Now other forces — such as persistent workforce shortages, rapidly rising labor and non-labor costs, and shifting payment models — are compounding those pressures. The result is a future healthcare environment that likely will be very different from any environment we've previously known.
This dynamic has resulted in a stronger emphasis on the strategic planning function to effectively define and align organizations around activities that are truly transformational. Through integrated financial planning, budgeting, forecasting, and capital planning processes, organizations can evaluate their financial strategies to meet cost transformation targets.
Watch this on-demand session to hear Dan Majka, Managing Director and Financial Planning Service Line Lead for Kaufman Hall, and Jay Spence, Vice President for Healthcare Industry Solutions and Strategy at Syntellis, explore common trends seen in hospitals today and best practices for financial planning and management.