Can you articulate the financial benefits of your lean practices? Regardless of whether your organization is just starting out or has been practicing lean for years, at some point, you will want to know the return on your investment.
This workshop will show the connectivity between the various types of lean tools, techniques, and concepts and how the benefits of using lean can be captured in both quantitative and qualitative financial aspects. A variety of approaches will be reviewed to demonstrate and practice how to capture the financial impact. Using your real-life examples, you will learn how to capture the benefits of lean. These benefits will also be connected to financial statements so, over time, you will know what leading indicators to monitor to validate improvement activities and where to prioritize other lean initiatives.
At the end of this session, participants will be able to:
- Understand the qualitative and quantitative value of lean.
- Describe several approaches to capturing the value of lean activities.
- Apply their specific situation to a profit model.
- Practice speaking a common financial language.
- Observe where the financial benefits will and will not appear on the organization’s financial statements over time.
Faculty: Jean Cunninghamm
Schedule: 1 day (8:00 am – 4:00 pm)
Who Should Attend: Clinical, nonclinical, and financial leaders across the healthcare industry