Park Nicollet Health Services, a $1 billion integrated health care provider, no longer prepares an annual operating budget. It now relies on Key Performance Indicators and a quarterly prepared six-quarter forecast to monitor current operations and plan future operating results. This new approach frees up over 200 operating managers from the previous four-month budget preparation process. In this session, the CEO and CFO will share the whys and how-to of this dramatic change in approach to financial management.

      After this presentation you will be able to:

• Describe an approach to monitoring operations through Key Performance Indicators rather than an annual operating budget.
• Discuss why quarterly forecasting keeps senior executives more in touch with changing financial realities in the organization.