Annual Business Plan & Operational Budget

The process to develop an annual business plan and operational budget for hospitals begins with a comprehensive market assessment. By examining each hospital’s market demographics, market share and admission trends, CHC Consulting is equipped to facilitate a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis. An interactive session to identify  the next fiscal year’s strategic initiatives follows. Next, an operational budget is then determined, based on past performance and future expectations, growth strategies and capital investments.

Benefits

Turnaround

Gain market insight needed to craft an effective and realistic plan.


Determine strategic initiatives to take your hospital to the next level.


Create a realistic budget based on your past performance and future expectations, growth strategies and capital investments.

Take Action

Plan a bright future for your hospital. Contact CHC today.

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Case Studies

Planning for Uncertainty: Wills Memorial Hospital, Washington, GA

The Situation

Wills Memorial Hospital in Washington, Ga., found itself in the midst of a perfect storm five years ago, when events good and bad converged. The hospital had completed necessary renovations, including a new patient wing, but was left with a $13 million bond debt. This debt obligation combined with years of significant losses and new healthcare regulations left the hospital in a bad spot, says hospital CEO Tracie Haughey: “We knew we were sinking and needed help.” A comprehensive operational assessment by CHC Consulting and its accompanying action...


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Blog

Hospital Business Planning Best Practices

Vital to an organization’s future, a business plan is a framework outlining the steps for financial and operational success. For many hospitals, this process has occurred at five-year intervals tied to strategic planning efforts. However, in today’s healthcare environment marked by ongoing industry, reimbursement, and market shifts, development of an annual business plan offers leaders a greater measure of security and flexibility to manage change.

Best practices for your hospital’s business planning include:

Align business planning efforts with strategic initiatives

Getting started, associate business planning efforts with strategic goals and...


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