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In Financial Forecasting, Time to Plan for the Worst

Patient volumes are dropping off at some hospitals, Medicare and Medicaid reimbursements are flattening, and healthcare CFOs are scratching their heads over financial forecasts. A stagnant economy calls for worst-case scenario planning.

1 comments on "In Financial Forecasting, Time to Plan for the Worst"
Jackie Larson (10/11/2011 at 11:34 AM)

This article does a great job of presenting the problem and framing the factors at play. Without a doubt, implementing best practice labor management solutions, and leveraging BI tools to help drive efficiencies (which improve patient care) is a measure to stop the hemorrhaging. Labor, after all, is anywhere from 50% to 70% of a healthcare organization's budget. While we have very little control over the external factors discussed in this article (flat patient volume and government cuts to Medicare and Medicaid), we have a lot of control over how we manage our organizations.