603. Using Budgeting & Forecasting to Drive Strategy and Operational Success is proudly presented to you by National Association for Home Care & Hospice. Thank you. We hope that you enjoy your course.
Description
The home care and hospice industries are facing many challenges, including insufficient payment rate increases, margin compression, workforce shortages, and changes in payer mix. Budgeting and forecasting are two similar, but different, management tools that can help drive strategy and operational plans for success. To use these tools successfully, it is critical that your budget and/or forecast development process contemplates all the challenges and opportunities for your organization and how your leadership team plans to address those challenges and opportunities to ensure a thriving future. Ongoing monitoring of your actual results compared to the budgets and forecasts is just as important as the initial development to help leadership in pivoting when you find yourself off track from the budget or forecast. This session will present an overview of the processes for developing the initial budgets and forecasts as well as the ongoing monitoring. The session will also address how these tools can be used to help in decision support in helping drive strategy and operational success.
Learning Objectives
• Define the processes for budgeting and forecasting, and identify how the
two tools differ.
• Outline keys to success in the use of budgeting and forecasting tools.
• Identify how budgeting and forecasting can be used to drive your
strategy and operation plans to address the challenges and
opportunities.
Faculty:
Amber Popek CPA
Beau Sorensen
Mike Simione MBA
Nursing 1.0 Contact Hours awarded.
Nursing Contact Hours for this module will expire on July 16, 2025.