Forecasting is one of the most difficult activities financial leaders in Healthcare have to tackle. Key assumptions required for good forecasting are often not defined, and KPI's not identified. Forecasting must be based in reality, and in the real world, many considerations outside of a medical practice's internal operations can effect its financial future. Taking a proactive approach to forecasting is the key to success. But to achieve the fundamental shift from reactive to proactive decision making requires the right mix of trust in your data, financial visibility, and strategies for regular, consistent forecasting processes. So how can you avoid the pitfalls of poor forecasting, and hit your revenue forecasts quarter after quarter? First you must identify the reasons why medical practices miss revenue forecasts. Then you can find a solution that fits your needs.
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