Healthcare budgeting and forecasting software streamlines planning and budgeting. Reliable projections with accuracy will help you to measure long term sustainability.

Strategic Planning, Budgeting & Forecasting Application for Hospital

For many hospitals and health systems, annual budgeting is a hard process that produces projections not always connected to the long-term financial plans as they should be. Innospire Planning, Budgeting and Forecasting software unites best budget methodologies to give best budget programs.

Unique Planning Features

Rolling forecast

The healthcare industry’s complex structure from an accounts receivables and payables standpoint is a factor in the migration away from the budget, as is the near-constant implementation of healthcare reforms and regulations altering the profit picture. Innospire systems use Rolling forecasts, in which projections are made on expected revenue, expenses and profit each quarter on the ensuing 12 or 18 months based on the previous quarter’s actual performance

Budget by strategic goal

The strategic plan provides the goals and objectives that will enable the organization to meet its mission and outlines specific. It also includes specific information on such items as overall volume projections for the coming fiscal year, focusing on statistical data, such as total patient days, discharges, changes in average length of stay, outpatient volume, and surgical volume, required to meet such targets

Initiative based planning

Initiatives modeled allow organizations to evaluate how directed efforts related to growth, cost containment or process improvement will (or should) impact functional departments

Scenario based planning

Analyze what-if scenarios for varying patient volumes, staff levels, payer types, etc.

Departmental planning

Solutions allows department manager to develop a department budget, monitor compliance with the budget, and provide insight into taking corrective actions to achieve budget objectives

Based on input schedule

Automated reminders can ensure that the user knows when to input key business information for budget analysis