Industries: Healthcare & Life Sciences

Budgeting and planning for healthcare and life sciences

Healthcare and life science organizations face unprecedented cost pressures, along with regulatory and reimbursement issues and diverse revenue sources that add complexity to budgeting and planning. Managing payroll is also complex, often combining collective bargaining units, seasonal and per-diem employees, and other professionals.

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Planning Maestro® streamlines and simplifies healthcare and life sciences financial planning and budgeting.

Simplicity

Manage all of your budgeting, financial planning and forecasting with a single, modern, cloud software solution seamlessly integrated with your general ledger. No more trying to manage and reconcile multiple platforms.

Flexibility

Easily accommodate the unique aspects of your organization. Do you budget by clinic, physician or procedure? Do you budget skilled nursing staff based on census ratios? Do you need to track metrics like patient days, beds, and visits? Planning Maestro has you covered, conforming to the way you work.

Visibility

Get an accurate, holistic view into every aspect of your business with a single source of truth. Planning Maestro enables you to continually deliver the financial intelligence your leadership needs to make faster, more confident decisions.

Speed

Accelerate your budgeting cycles and minimize the risk of data errors with Planning Maestro’s intuitive automation. Free up Finance staff from repetitive, manual tasks so they can focus on strategic planning to lead your organization’s growth and success, while always maintaining accurate and compliant data.

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Watch healthcare and life sciences demonstration

No matter the size of your healthcare or life sciences organization, predictive financial planning and forecasting is critical for ensuring that you are efficient and sustainable, and even more critical during times of uncertainty. Learn how organizations utilize Planning Maestro for a better, more strategic and accurate view of their financial health and performance.

Explore Planning Maestro’s powerful capabilities

Budgeting

Forecasting

Scenario Planning

Consolidation

Financial Reporting

Performance Dashboards

Heathcare and Life Sciences Data Sheet Centage

Modern FP&A for Healthcare and Life Sciences

Create precise income plans with key healthcare KPIs such as services offered, length of patient stay, and patient insurance policy.

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What Our Customers are Saying

Make healthcare and life sciences budgeting and planning easier. Our next-level budgeting software, equipped with modern cloud computing technologies, is designed to improve integration, scale, automation, and performance. Our goal is to empower your business with powerful, user-friendly solutions that support your goals.

Mountain View Hospital previously used Excel for their budgeting processes, which included a spreadsheet with more than 40 tabs. It lacked the reliability that they needed, took up too much time, and demanded the support of too many staff members.

Planning Maestro streamlined their data entry and simplified scenario planning and reporting to save time and provide more value to decision makers.

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As a healthcare nonprofit funded by Medicare and Medicaid, Community Care, Inc. must manage a complex network of providers, caregivers, and patients. The organization first implemented an automated budgeting tool in 2004 to help streamline financial activities, but the endeavor failed as the software wasn’t intuitive or user-friendly enough.

Fast forward to today, Community Care now successfully delivers the financial insight their organization needs on a daily basis.

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When it came to building the annual budget in Excel, CCMH found that it was not only difficult to involve budget contributors, but there was also a lot of manual work and room for error. Planning Maestro offers intuitive automation out of the box and streamlines the collaboration process, enabling users to seamlessly work together on the upcoming year’s budgeting process.

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Frequently Asked Questions

How can my healthcare business address the challenge of time constraints?

Automated Budget Models and Reports: Budget planning in healthcare can be an incredibly time-consuming commitment. Healthcare businesses often don’t have sufficient time to dedicate to financial planning.

With Planning Maestro, you can build a budget model quickly and deliver real-time reports to your stakeholders. Automated reporting allows you to stop worrying about inputting data and creating reports so you can get back to what matters most — helping your patients.

Manual data entry causes a lot of issues for my healthcare company. How can I make sure sensitive patient information is kept secure?

Real-Time Syncing: Like most healthcare companies and clinics, you likely work out of multiple platforms to manage your finances, adjust budgets, and forecast expenses. Making sure all of your platforms have the most up-to-date information can lead to discrepancies due to human error.
With Planning Maestro, you only need to use one platform for all your financial needs. This greatly reduces the time you spend inputting adjustments and eliminates errors through manual data entry.

How can my healthcare business address the lack of necessary resources for our financial planning and consolidation?

Seamless Software Integrations: Having all your FP&A software on one platform can save you time and make your results much easier to track.

You can integrate Planning Maestro with your enterprise resourcing planning (ERP) software. Comprehensive healthcare financial planning solutions are user-friendly and less complicated to implement. You won’t have to navigate to multiple platforms to find results and analyses regarding your healthcare business.

How does Planning Maestro compare to other FP&A solutions?

Planning Maestro delivers a level of sophisticated budgeting, forecasting, and data analysis typically only enjoyed by large enterprises, at a price point that makes it accessible for small and medium sized businesses.

Alternatives to Planning Maestro typically are limited to an Excel add-on or do not synchronize with the rest of your data, leaving your finance team to function in a silo.

How can my healthcare business practically support FP&A software with our already-stretched-too-thin staff?

Planning Maestro is an all-in-one solution for all your financial-related needs. We offer healthcare companies comprehensive financial tracking capabilities. A few of them are:

Planning Maestro can automate routine tasks, reducing responsibilities for your financial professionals and other members of your team. Automation also offers technical simplicity for organizations that lack an internal IT department.

In addition, Planning Maestro delivers a level of sophisticated budgeting, forecasting, and data analysis typically only enjoyed by large enterprises, at a price point that makes it accessible for small and medium sized businesses.

Budgeting and planning for healthcare and life sciences