February 23, 2023

S3 E3: Using Strategy to Shape Your Budget with Dr. Imran Andrabi and Dan Scher

Your budget should be a reflection of your organization's business strategy, not the other way around. In this episode, Dr. Imran Andrabi, President and CEO at ThedaCare, and Dan Scher, Vice President of Strategic Planning and Sustainability at Medxcel, share why you must first identify the needs of your employees, patients, and community before determining a budget. Listen in to hear how this approach has allowed ThedaCare, to see long-term rewards.

On this episode, you’ll hear:
[00:59] Getting to know Dr. Andrabi
[01:58] Getting to know Dan
[02:40] Differentiating strategy and budget
[04:15] What a hospital’s financial strategy should look like
[07:28] How a good strategy informs the budget
[09:37] External factors to keep in mind
[13:10] Healthcare trends to pay attention to
[16:40] Where hospitals should invest for long-term gain
[19:25] How technology plays into a strategy
[22:05] Changes in population health needs
[25:45] Final takeaways