Ahead of the marcus evans National Healthcare CXO Summit 2021, Brian Cannavan discusses how hospital systems can improve financial and operational results

1. Interview with: Brian Cannavan,
Chief Executive Officer, Plan4
Healthcare
“It’s time for hospital systems to think
differently about business planning,”
advises Brian Cannavan, Chief Executive
Officer, Plan4 Healthcare. Almost all
hospitals engage in strategic planning,
and conduct financial planning and
budgeting, but very few link these
together to unlock better results, he
adds.
Plan4 Healthcare is a service provider at
the marcus evans National
Healthcare CXO Summit 2021.
What challenges are hospital
administrators facing today? What
are the operational hurdles of
budgeting, forecasting and resource
allocation at hospital systems?
Planning is essential for all organiza-
tions, yet it is often pushed to the side
in favor of short-term priorities. By
using modern technology to facilitate
planning and budgeting, organizations
can be more efficient in planning, make
better use of data to inform planning
decisions, and effectively integrate
planning and execution into ongoing
management.
What causes inefficiencies, misused
resources, and reduced quality of
care?
All of these items can be linked to a lack
of planning and monitoring of that plan.
An organization needs to keep track of
what it intends to do, how it intends to
do it, and the related resource needs,
while at the same time monitor how it is
doing against this plan, to identify areas
it needs to change to accomplish it.
Has the pandemic brought about
any new challenges? What?
Even the best laid plans will change,
and healthcare organizations must
expect the unexpected, as evidenced
most recently by COVID-19. The
challenges have included increased
costs directly related to need for
increased amount of PPE, decreased
revenues due to postponement of
elective surgeries, and mental and
physical strain on employees.
How can they optimize their
operations? What tools do they
need to run a more efficient
enterprise?
An organization’s planning platform and
methods must be agile, and balance the
need to look to the future with an ability
to respond quickly and decisively to
emerging opportunities and challenges.
They need to be able to quickly assess
the need for new expenses, and balance
it with decreased revenue while
retaining current employees.
What would allow them to make
data-driven decisions in a
transparent way?
Ongoing maintenance and monitoring of
daily and annual performance. Taking
the current financial status of an
organization and its business units, and
comparing it to the original plan, and
any opportunities to pivot during the
year. We leverage technology to process
data, and compare the budget to
actuals, while tracking key performance
indicators to make sure goals are met
while budgets are maintained.
What makes the biggest impact on
the financial stability of their
system?
The biggest impact to their stability is
being able to balance the planning
triangle of strategic goals, resource
budget, and daily workload. Each of
these factors affects the others and all
must be maintained in equilibrium. If
one factor shifts, the others must be
reassessed and adjusted accordingly, so
the organization achieves its goals
within its means.
How can hospitals maximize the
potential of their facilities and
leadership?
Almost all organizations engage in
strategic planning, and almost all
conduct financial planning and
budgeting. Few are able to link these
types of planning together in a
meaningful way.
Better results are unlocked when an
organization’s annual budgeting is
driven by strategic priorities, and tied to
specific operational tactics and
objectives.
How Hospital Systems Can Unlock Better
Results by Optimizing Business Planning
Healthcare
organizations
must expect the
unexpected

2. About Plan4 Healthcare
At Plan 4 Healthcare, we’ve created 4Cast, a revolutionary software as a service (SaaS) product, backed by a proven business
planning methodology, that offers a complete solution to increase planning effectiveness and operational efficiency for all hospital
systems. 4Cast is simple to implement and delivers proven benefits, such as customized department-level planning modules,
reporting features, and 24/7 cloud functionality. The software provides a simple experience for all users, collects data for detailed
reporting, and instills management discipline and accountability in staff while creating an operational foundation for long term
success. With 4Cast, you’re able to plan from start to finish with accuracy, developing comprehensive operating plans and budgets
while saving time and money. Organizations that are ready to create a clear, sustainable business strategy will discover immediate
benefits from the 4Cast solution.
www.plan4hc.com
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