Martin's Point Health Care Seeks Strategic Budgeting

Martin's Point Healthcare was recently featured in the Fall issue of HFMA's Strategic Financial Planning publication. The article details the business pains they hoped to address with a new budgeting system and the benefits they are seeing from using Axiom EPM's solution. An excerpt from the article entitled "Martin's Point Health Care Seeks Strategic Budgeting" is below.

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By David Janotha of Axiom EPM, A Kaufman Hall company

The budgeting process at Martin’s Point Health Care, which operates nine clinics and two health plans in Maine, New Hampshire, Vermont, and New York, was once a chaotic affair. The finance department drove the process with minimal input from the people on the front lines, and external consultants were a constant presence. Worse, the reports generated by the finance department offered little more than a snapshot of past experience, rather than guidance for the future.

“The budget really lacked ownership,” says Kevin Mahoney, Martin’s Point budgeting and reporting manager. “There was no guidance, and no budget manual. It was not seen as a user-friendly system.” Today, the organization’s budgeting process is much more strategic. The front line players are deeply involved and “own” their budgets, and regular reports provide key insights that often lead to beneficial adjustments.

Read the rest of the story here.