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Related Experiment Videos

Joint resolution blending finance and strategy.

Jason H Sussman1, Mark E Grube

  • 1Kaufman, Hall & Associates, Northfield, Ill., USA. jsussman@kaufmanhall.com

Healthcare Financial Management : Journal of the Healthcare Financial Management Association
|November 24, 2004
PubMed
Summary

Disconnected strategic and financial planning hinders healthcare organizations' access to capital. Chief financial officers (CFOs) must integrate these processes for successful, analysis-based decision-making and long-term financial health.

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Area of Science:

  • Healthcare Management
  • Financial Strategy
  • Organizational Planning

Background:

  • Strategic and financial planning are often siloed within healthcare organizations.
  • This disconnect impedes integrated, analysis-based decision-making.
  • Lack of integration limits long-term access to capital.

Purpose of the Study:

  • To highlight the critical need for integrating strategic and financial planning in healthcare.
  • To emphasize the role of Chief Financial Officers (CFOs) in this integrated approach.
  • To underscore the impact of integrated planning on capital access.

Main Methods:

  • Conceptual analysis of planning processes in healthcare organizations.
  • Review of financial and strategic management literature.

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  • Case study examination (implied, not explicitly stated in abstract).

    • Main Results:

    • Disconnected planning leads to suboptimal decision-making.
    • Integrated planning is essential for securing sustainable capital.
    • Active CFO involvement is a key determinant of success.

    Conclusions:

    • Healthcare organizations must bridge the gap between strategic and financial planning.
    • CFOs are pivotal in fostering an integrated planning environment.
    • Successful integration ensures financial viability and access to capital.