Budgeting – Why Do It? (Hospice) is proudly presented to you by National Association for Home Care & Hospice. Thank you. We hope that you enjoy your course.
Hospice is presented with many financial challenges, including volume, staffing, length of stay, cost, and reimbursement. It is vital that hospice budget appropriately each year and use key performance indicators on an ongoing basis to track and measure performance. The budget and KPI process is an essential step to communicate the financial impact of key decisions to clinical management and operations. Finance must collaborate with all functional areas to identify key revenue and cost drivers and develop realistic projections to drive the budget process.This session will focus on preparations of a hospice budget and methods to track and measure the agency’s progress through key performance indicators and dashboard
Learning Outcomes:
• Analyze data to identify the key performance indicators that drive success in hospice;
• Assemble key performance indicators to generate a budget and track progress in dashboards to effectively monitor your performance; and
• Identify strategies for collaborating with clinical and operations on budgeting and forecasting.
Faculty:
Mike Simione
Rob Simione, CPA