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...