A Dynamic Healthcare Budget Process May Trump Traditional Budgeting In Terms Of Accuracy, Flexibility

It’s not uncommon for health systems to have an annual budgeting cycle that requires six months of work and thousands of hours from leadership. It’s a monumental undertaking — and yet the budget is often outdated in a matter of months. What that means is that, even with a strong flex budget, healthcare executives are constantly tasked with explaining why performance isn’t tracking to budget.