Budgets are obsolete the day after they are created. Budgets are poor predictors and guides for performance. At ThedaCare budgets never perfectly predicted actual performance. Prediction accuracy varied from 2% to 169%. If this is such a flawed practice why does anyone still use a budget?
Read the following to understand what ThedaCare has learned.
http://www.healthleadersmedia.com/page-1/FIN-278180/ByeBye-to-Annual-Budgeting
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