Hospice Budgeting and Financial Analysis

Abstract

Hospices that plan today for tomorrow will survive the many changes that are taking place in the industry. Understanding the budgeting process and the importance of the financial assumptions used to develop the budget is essential. Establishing a reliable database provides necessary information to prepare internal cost reports and budget projections. Using these tools consistently will ensure that operational decisions are made based on the most accurate financial information available for the specific hospice organization.