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Merging facility and financial planning: a new approach
The Journal of Health Administration Education
|March 5, 1989
Summary
Hospital administrators can optimize construction projects by concurrently planning facility and financial aspects. This integrated approach ensures projects meet objectives within budget, enhancing efficiency and avoiding costly delays.
Area of Science:
- Healthcare Management
- Hospital Administration
- Financial Planning
Background:
- Hospital construction projects require balancing complex facility and financial considerations.
- Traditional planning methods often separate these aspects, leading to inefficiencies.
- Effective strategic planning is crucial for successful hospital development.
Purpose of the Study:
- To provide a framework for concurrently planning facility and financial aspects of hospital construction.
- To guide hospital administrators and boards in optimizing construction project outcomes.
- To enhance the efficiency and effectiveness of hospital capital projects.
Main Methods:
- Recommends initiating the process with formal strategic plans.
- Advocates for interactive advancement of facility and capital plans.
- Emphasizes maintaining flexibility throughout the planning process.
Main Results:
- Concurrent planning ensures hospital objectives are met within financial constraints.
- Projects are delivered more effectively and efficiently within defined limitations.
- Eliminates false starts and streamlines project implementation.
Conclusions:
- Integrated facility and financial planning is essential for successful hospital construction.
- A flexible, interactive planning process leads to optimal project outcomes.
- This approach maximizes project efficiency and minimizes financial risks.