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 dashboards.