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Strategic Planning

 

Feedback from the Front Lines

"I believe we perform closer to budget because of INSIGHTS. It enables us not only to complete the budgeting process faster and easier but also to produce a more accurate and meaningful budget . . . and staying closer to budget actually helps make the future more predictable. If we know that we are performing on budget, we can project performance more confidently and develop more consequential and strategic long-range plans."

—Dave Hanen, Chief Financial Officer
Fremont Area Medical Center (FAMC)
Fremont, Nebraska

 

Success Stories

Financial executives at dozens of leading hospitals and healthcare organizations have experienced dramatic success with INSIGHTS.

Find out how

 

Plan strategically. Execute seamlessly.

Discover how to export your financial plan directly into the working budget with INSIGHTS® Enterprise Long-range Financial Planning.
Learn more

 

Strategic Planning

Hospital strategic planning executives deal with a tremendous range of issues inside and outside the organization, from market forces and government mandates to provider reimbursement agreements and community perceptions. It is their job to detect patterns and emerging trends that impact operational efficiency and financial performance, execute strategies to address challenges and capitalize on new opportunities, and be prepared to constantly reassess their preparedness for industry change.

 

That takes more than just high-level thinking. To forecast what the hospital's volumes will be, where it will experience growth, and accurately predict capital investment needed in both the short and long term, hospital leaders need rigorous assumptions and advanced "what if" scenarios they can count on. They need to build actionable strategy informed by empirical data, supported by relevant analysis, and tied to accountability for performance.

 

Advantages of INSIGHTS®

INSIGHTS provides strategic planning executives with not only a clear view of the larger context but also the deep financial and operational details—trend data, workload units, seasonality, volumes of clinical procedures, position requirements, organizational structures, and more—to actually implement strategy and apply it directly to day-to-day operations, budgets, and decision-making.

 

Cost data—fully integrates cost data with large volumes of patient-level clinical, resource utilization, and financial data from the hospital's core information systems into a single, structured easy-to-use database.

 

Service-Line Reporting—delivers financial and clinical encounter analysis that more accurately correlates product offerings, lines-of-service decisions, and resource allocation with the quality and efficacy of patient care and related financial implications.

 

Business Intelligence—integrates data from multiple disparate sources throughout the enterprise—HIPPA data, payroll data, labor productivity data, data on outcomes, etc.—and uses key performance indicators, scorecards and other analytic tools to deliver quality metrics and monitoring capabilities.

 

Hospital-wide performance improvement

In addition to helping hospital boards and senior leadership set and meet both short and long-term strategic plans, INSIGHTS empowers performance improvements all across the enterprise:

 

Operational Efficiency — Frontline staff can respond more nimbly to control costs and optimize productivity. Learn how

 

Financial Management — Financial executives can budget faster and more accurately and improve daily decision-making. Learn how

 

Simplified IT — IT directors can optimize resources because INSIGHTS is easy to implement and works seamlessly with existing systems. Learn how