Week #3

Time flies when you are having fun…  I can’t believe July 4th is right around the corner.

Week #3 was probably the most hectic one yet… hence the delay in the post.  My department spent all last week finalizing the budget for FY16, which on the Corporate Services side alone is over $1 Billion (yes, Billion!).  I worked closely with my manager and director to set cost containment objectives, and make sure they were met.  In the healthcare industry, to stay competitive, one must decrease expenses, as it is very difficult to create new revenue streams in today’s day and age.  As a non-profit organization, we reinvest our “profit” to improve UPMC as a whole.

Currently, we are in the process of “spreading” our budget, which is essentially budgeting for the correct timing of when expenses will hit.  Some costs are incurred quarterly, while others hit every few months, with varying amounts in each month.  We are comparing last years spread, and using that to find where they missed in the spread process last year to get a better grasp on how we should properly allocate the FY16 budget.

More to come!


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