Strategic Financial Planning
An Integrated Approach to Planning
Strategy informs finance, and finance enables strategy. They are inextricably intertwined. So why do provider organizations sometimes silo these functions?
Strategic plans and financial projections are subject to unpredictable and uncontrollable forces that play havoc with the best made plans. It is impossible to remove uncertainty from our planning. What is needed is to recognize and incorporate these uncertainties into our planning processes so that we can understand and plan for them.
Our approach helps organizations keep the two functions in sync, from annual budgets to periodic strategic plan updates.
Key Driver Identification
Statistical indicators and operational interrelations between parts of your organization ultimately determine your organization’s financial performance. Which ones are the “make or break” drivers of your success? They are not always the ones you think of. A true key driver is both financially impactful AND subject to high variability and uncertainty. Understanding these drivers can help you make better projections, develop monitoring and control systems, and improve your ability to make meaningful plans.
Portfolio Optimization
You can do anything, but you can’t do everything. And you certainly can’t do everything at once. Given the list of what you could do, what should you do? We offer tools and analysis that let you find the financially optimum mix of strategies and tactics and stress test them under the uncertainties in your operating environment.
Scenario Planning
The health care operating environment is subject to many factors that are beyond our ability to predict or control - factors that have a huge impact on our volumes, revenues, and labor costs, to name a few. Couple this with the high cost of health care facilities and equipment, and the stakes go up. How can you plan for expensive investments in uncertain times? We can help you understand - and explain - the impact of uncertainty on your future projections