Entering a new budget year with a deficit of at least 5% of an organization’s total budget can present a number of challenges to any CEO or CFO. In some cases, the deficit is a part of the budget planning while other times a deficit occurs due to unexpected impacts on revenue sources. In this Coffee Break Case Study, OPEN MINDS Senior Associate, George Braunstein, RN, FACHE, discusses why it is important to address a budget deficit by analyzing the impact a deficit can hold over an organization, as well as on future payment models, and how to draw an organization back to a steady revenue. This presentation also features a case study on the organization whose financial deficit required evaluation and the realignment of both the leadership team as well as the budget.
Industry Resource |