Political and economic change puts pressure on hospitals as government decisions often focus on cost savings. This can result in financial constraints, leading to a greater demand and supply imbalance through poor workforce allocation. Financial planners need the ability to manage their costs and budget while remaining flexible yet accurate. By leveraging a shared model with operations and HR, financial decisions can be made faster and more accurately.
Financial planners in the healthcare industry must be able to adapt to increasing costs and ever-constrained budgets. Accurately comparing labor spending against the budget enables planners to identify deviations and take appropriate actions to manage expenses effectively, ensuring accurate financial accountability.
In this demo video, learn how finance can review and approve open requisitions they have received from HR and how they can check their actual labor spend by department, location, and salary band.
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