Moving Beyond Budgeting in Healthcare
Is your finance function fully supporting your efforts to implement lean, or are they continuing to use traditional budgeting practices? Is there a better way to plan and control?
During this session, you will learn how leading-edge organizations have changed their traditional budgeting process to eliminate thousands of wasted hours of effort, in favor of a more dynamic way of managing financial performance. These organizations have found that budgeting is both a philosophical road block to lean thinking and a process with tremendous waste.
Participants will learn and practice how to apply the 12 Beyond Budgeting principles to eliminate waste and maximize performance, and will explore how rolling forecasts, dynamic resource allocations, and relative performance measures provide greater support for lean implementations to drive improved results.
At the end of this session, participants will be able to:
- Identify the waste that fills traditional budgeting practices and what lean finance can do that is more effective
- Evaluate leading-edge lean healthcare organizations that have already eliminated annual budgets
- Explain how the 12 Beyond Budgeting principles lead to a more accountable and higher performing organization
- Develop a specific case for change and action plan for improvement
- Describe how finance can truly support lean implementation
Schedule: 1-day (8:00 am - 4:00 pm)
Recommended Reading: None
Recommended Prerequisite Sessions: None
Who Should Attend: CFOs, controllers, directors of financial planning and accounting, senior leadership team members, and lean implementation leaders