# Budgeting * **Definition:** The process of creating a plan to manage income and expenses, specifically within healthcare or healthcare technology, to ensure efficient allocation of resources, maintain financial health, and optimize the return on investment. * **Taxonomy:** CTO Topics / Budgeting ## News * Selected news on the topic of **Budgeting**, for healthcare technology leaders * 7.8K news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 5/8/2025 | [**How Brand Manufacturers Are Redefining Strategy In The Age Of E-Commerce - Forbes**](https://www.forbes.com/councils/forbestechcouncil/2025/05/08/how-brand-manufacturers-are-redefining-strategy-in-the-age-of-e-commerce/) | [[Forbes]] | | 5/7/2025 | [**Vitable Health Acquires Liferaft's HRA Platform to Tackle Small Business Healthcare Crisis**](https://hitconsultant.net/2025/05/07/vitable-health-acquires-liferafts-hra-platform/) | [[HIT Consultant]] | | 5/6/2025 | [**United States Defense Market Competitive Landscape and Forecast (2025-2030) - Yahoo Finance**](https://finance.yahoo.com/news/united-states-defense-market-competitive-154700264.html) | [[Yahoo Finance]] | | 4/19/2025 | [**HIMSS Changemaker recommends investing time to mentor - Healthcare Finance News**](https://www.healthcarefinancenews.com/video/changemaker-recommends-investing-time-mentor) | [[Healthcare Finance]] | | 4/2/2025 | [**Here's How CFOs Are Tackling Cost Containment - HealthLeaders Media**](https://www.healthleadersmedia.com/cfo/heres-how-cfos-are-tackling-cost-containment) | [[HealthLeaders Media]] | | 4/2/2025 | [**Stoltenberg Consulting's Health IT Industry Outlook Report identifies top IT trends impacting ...**](https://www.prweb.com/releases/stoltenberg-consultings-health-it-industry-outlook-report-identifies-top-it-trends-impacting-2025-hospital-purchasing-decisions-302413990.html) | [[PRWeb]] | | 4/2/2025 | [**Here's How CFOs Are Tackling Cost Containment - HealthLeaders Media**](https://www.healthleadersmedia.com/cfo/here%E2%80%99s-how-cfos-are-tackling-cost-containment) | [[HealthLeaders Media]] | | 3/2/2025 | [**Best of Buy Side Awards 2025: Budgeting Apps**](https://www.wsj.com/buyside/personal-finance/financial-tips/best-budgeting-apps) | [[The Wall Street Journal]] | | 1/2/2025 | [**10 Gen-Z Budgeting Habits That Everyone Could Benefit From**](https://www.aol.com/10-gen-z-budgeting-habits-170000732.html) | [[AOL]] | | 12/30/2024 | [**Guide to the envelope budgeting system**](https://finance.yahoo.com/personal-finance/banking/article/envelope-budgeting-system-222236634.html) | [[Yahoo Finance]] | | 12/26/2024 | [**The Business and Finance of Healthcare in 2025**](https://www.healthitanswers.net/the-business-and-finance-of-healthcare-in-2025/) | [[Health IT Answers]] | | 11/12/2024 | [**5 Hospital Stocks Set to Thrive Amid Robust Industry Trends - Nasdaq**](https://www.nasdaq.com/articles/5-hospital-stocks-set-thrive-amid-robust-industry-trends) | [[Nasdaq]] | | 11/12/2024 | [**Post-Roe, Your Period App Can - And Will - Be Used Against You - Forbes**](http://www.forbes.com/sites/abigaildubiniecki/2024/11/12/post-roe-your-period-app-can---and-will---be-used-against-you/) | [[Forbes]] | | 11/11/2024 | [**5 Hospital Stocks Set to Thrive Amid Robust Industry Trends - Yahoo Finance**](https://finance.yahoo.com/news/5-hospital-stocks-set-thrive-170200996.html) | [[Yahoo Finance]] | | 9/17/2024 | [**Research: GCs Expect Bigger Budgets and a Shift to Agile Budgeting in 2025**](https://www.prnewswire.com/news-releases/research-gcs-expect-bigger-budgets-and-a-shift-to-agile-budgeting-in-2025-302250642.html) | [[PR Newswire]] | | 9/12/2024 | [**What Is Reverse Budgeting?**](https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/what-is-reverse-budgeting) | [[US News]] | | 9/7/2024 | [**5 popular budgeting strategies - and how to find the best fit for how you save**](https://www.aol.com/finance/budgeting-strategies-193352485.html) | [[AOL]] | | 9/4/2024 | [**156 women hospital and health system CFOs to know - 2024**](https://www.beckershospitalreview.com/lists/156-women-hospital-and-health-system-cfos-to-know-2024.html) | [[Beckers Hospital Review]] | | 8/21/2024 | [**Americans are Living Paycheck to Paycheck Despite Increased Budgeting - PR Newswire**](https://www.prnewswire.com/news-releases/more-americans-are-living-paycheck-to-paycheck-despite-increased-budgeting-302226904.html) | [[PR Newswire]] | | 8/12/2024 | [**AI Integration, Budget Pressures Challenge CISOs - Security Boulevard**](https://securityboulevard.com/2024/08/ai-integration-budget-pressures-challenge-cisos/) | securityboulevard.com | | 8/5/2024 | [**Best Online Master's In Management Of 2024 - advisor - Forbes**](https://www.forbes.com/advisor/education/business-and-marketing/best-online-masters-in-management/) | [[Forbes]] | | 7/25/2024 | [**How Tech Leaders Can Better Communicate With Peers And Stakeholders - Forbes**](https://www.forbes.com/sites/forbestechcouncil/2024/07/25/how-tech-leaders-can-better-communicate-with-peers-and-stakeholders/) | [[Forbes]] | | 7/11/2024 | [**G2 Names Martus a Top Software for Budgeting and Reporting in Summer 2024 Reports**](https://www.prnewswire.com/news-releases/g2-names-martus-a-top-software-for-budgeting-and-reporting-in-summer-2024-reports-302194353.html) | [[PR Newswire]] | | 6/14/2024 | [**Oil And Gas Project Management Software Market Consumption Analysis, Business Overview and Upcoming Trends 2033**](http://prsync.com/stringent-datalytics/oil-and-gas-project-management-software-market-consumption-analysis-business-overview-and-upcoming-trends--4174393/) | [[PRSync]] | | 12/13/2023 | [**6 Best Mid-Cap Tech Stocks to Buy Right Now**](https://money.usnews.com/investing/articles/best-mid-cap-tech-stocks-to-buy-now) | [[US News]] | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **Springbrook Software**: Provider of advanced budgeting tools aimed at enhancing transparency and citizen engagement in government budgeting. - **Julie Guntrip**: A financial expert advocating for a balanced approach to budgeting. - **Bain & Company**: Consulting firm promoting agile planning strategies in budgeting. - **Axiom**: A company providing legal budgeting reports and advocating for agile budgeting practices. - **Envisio**: A company focused on integrating strategic priorities into local government budgeting processes. - **Dana Miranda**: A certified personal finance educator advocating for intuitive spending over strict budgeting. - **Empower**: A wealth management service provider offering budgeting tools and financial planning resources. - **Katrin Kaurov**: A financial expert cautioning against intuitive spending due to potential debt risks. - **Martus Solutions**: A company recognized for its budgeting and reporting software, praised for seamless integration with accounting systems. - **Bain & Co.**: A management consulting firm that conducts surveys and analyses on healthcare spending. - **All Star Healthcare Solutions**: A leading healthcare staffing company focused on financial management and budgeting. - **Doug Carey**: A chartered financial analyst emphasizing the importance of long-term financial goals. - **Stoltenberg Consulting**: A consulting firm that provides insights into healthcare IT trends and budgeting challenges. - **Tyler Technologies**: A technology company that partners with Envisio to enhance local government budgeting capabilities. - **Anthony DeFurio**: Executive Vice President and CFO at Houston Methodist, emphasizing financial health through strategic planning. - **KLAS**: A research firm that provides insights into healthcare technology spending and trends. - **Finmo**: A Treasury Operating System provider that streamlines payment processes and enhances cash flow visibility for organizations. - **Montefiore Health System**: An organization involved in value-based payment models and healthcare financing. - **National Institutes of Health (NIH)**: A government agency responsible for funding scientific research, recently adjusting its indirect funding policies. - **USU**: A company specializing in IT management solutions, focusing on maximizing cloud value through AI-driven FinOps. ### Partnerships and Collaborations - **Envisio and Tyler Technologies**: A strategic partnership aimed at modernizing local government budgeting through priority-based budgeting practices. - **Springbrook Software and Cirrus ERP**: Springbrook's Advanced Budgeting tool integrates with Cirrus ERP to create engaging reports for government transparency. - **Martus Solutions and Accounting Systems**: Martus Solutions integrates with over 20 accounting and ERP systems to streamline budgeting workflows. - **Harri and Wagestream**: Partnering to provide financial support and budgeting tools for hospitality employees. - **Medius Acquisition of Expensya**: A strategic move to enhance product offerings in expense management. - **Genpact and Ferring Pharmaceuticals**: Extended partnership to transform finance and procurement operations using advanced technologies. - **Finmo Funding Round**: Co-led by Quona Capital and PayPal Ventures, raising $18.5 million to enhance treasury management solutions. - **Infinx**: Announced strategic appointments to enhance growth and healthcare solutions, focusing on financial management. - **Genpact and STADA**: Renewed partnership to enhance finance operations through automation and advanced technology. - **C-suite Collaboration**: CISOs, CIOs, and CTOs need to align and collaborate to prioritize cybersecurity investments effectively. - **LevelBlue**: Released the 2024 Futures Report focusing on Cyber Resilience in Healthcare. - **Kaufman Hall and Vizient**: Collaborated on a report projecting AI usage in health systems. - **Community Care of Lower Cape Fear**: Collaborates with the North Carolina Department of Health and Human Services to engage community organizations in Medicaid initiatives. - **Centivo**: Raised $75 million in funding to improve affordability and access to healthcare, partnering with strategic investors. - **Healthcare Organizations**: Encouraged to partner with third-party organizations to implement AI technologies effectively. - **Bergen New Bridge Medical Center**: Opened a CareRite Now center in partnership with Inserra Supermarkets to improve community access to care. ### Innovations, Trends, and Initiatives - **Budgeting Approaches**: Discussion on intuitive spending versus strict budgeting, with experts advocating for a balanced approach. - **Loud Budgeting**: A trend encouraging open communication about financial boundaries and spending priorities to foster accountability. - **Budgeting Techniques**: The adoption of zero-based budgeting and envelope budgeting methods to manage finances effectively. - **Agile Budgeting**: A shift from traditional forecasting to flexible budgeting strategies in response to economic uncertainties. - **Priority-Based Budgeting**: The initiative encourages local governments to align resource allocation with strategic goals for effective spending. - **Budgeting Apps**: Emerging tools like Rocket Money and YNAB are simplifying financial management for users by tracking spending and setting goals. - **Advanced Budgeting Tools**: Springbrook Software's upgrades focus on enhancing citizen engagement and access to budget information. - **Performance-Based Budgeting**: Governments are shifting from traditional budgeting to performance-based budgeting to evaluate program effectiveness and reallocate resources. - **Budgeting Software Innovations**: Martus Solutions' software has been recognized for increasing collaboration and transparency in budgeting processes. - **AI Integration in Budgeting**: Organizations are advised to critically evaluate AI investments and establish guidelines for effective integration. - **Hospital Global Budget Model**: Innovative financing model aligning economic incentives with population health outcomes. - **FinOps**: A set of best practices for cloud cost optimization, gaining importance for managing cloud spending effectively. - **Digital Blueprint**: A strategy for healthcare organizations to streamline processes and enhance operational effectiveness. - **Revenue Cycle Management**: Health systems are adopting AI tools to streamline payment processes and enhance financial management. - **Cloud FinOps Market Growth**: Projected to grow from USD 13.5 billion in 2024 to USD 23.3 billion by 2029, driven by demand for financial management solutions in cloud computing. - **Cybersecurity Investments**: Post-ransomware attack, 70% of providers reassessed IT budgets to enhance cybersecurity measures. - **AI in Project Management**: Projected market growth driven by the demand for effective project management solutions in a complex corporate environment. - **AI in Healthcare**: Projected to reach $187 billion by 2030, emphasizing the need for robust frameworks for compliance and innovation. - **AI and Automation**: Healthcare leaders are increasingly investing in AI and automation to enhance revenue cycle performance and operational efficiency. ### Challenges and Concerns - **Budgeting Effectiveness**: Research indicates that traditional budgeting may not be effective for everyone, leading to potential financial stress. - **Budgeting in Healthcare**: Healthcare organizations face challenges in budgeting due to economic volatility and the need for strategic financial planning. - **Resource Allocation for IT**: Challenges in budgeting for IT initiatives, including emerging technologies and compliance. - **Integration Costs**: High integration costs and privacy concerns may hinder the adoption of advanced budgeting technologies in smaller organizations. - **Budgeting for Healthcare Services**: The debate over Medicaid funding and its implications for healthcare accessibility and financial sustainability. - **Economic Uncertainty**: Ongoing uncertainties in the business environment are prompting healthcare organizations to rethink budgeting strategies. - **Fiscal Crisis in Government**: State and local governments are facing fiscal challenges due to rising expenditures and declining revenues, necessitating innovative budgeting solutions. - **Reactive Budgeting**: 66% of CISOs believe that reactive budgeting hampers proactive cybersecurity measures, indicating a disconnect in prioritizing cybersecurity investments. - **Economic Uncertainties**: Geopolitical tensions and economic headwinds are complicating budgeting and financial planning for healthcare organizations. - **Budget Constraints**: Many hospitals face challenges in modernizing technology due to limited budgets, complicating system integration. - **Cloud Spending Oversight**: Rapid cloud adoption has led to inadequate financial oversight, resulting in significant waste in cloud spending. - **Cybersecurity Budget Constraints**: Healthcare organizations face challenges in recruiting cybersecurity talent due to budget limitations. - **Indirect Funding Cuts by NIH**: Concerns that reducing indirect funding could harm research infrastructure and essential operational expenses. - **Healthcare Cost Increases**: Rising costs due to labor, technology investments, and changing reimbursement models are prompting finance executives to explore cost containment strategies. - **Cybersecurity Risks**: Increased cyber threats necessitate higher spending on cybersecurity measures. - **Labor Shortages**: Shortages in the revenue cycle workforce are leading to operational issues and prompting outsourcing considerations. - **Resource Constraints**: CISOs face operational challenges and resource constraints that could expose organizations to new vulnerabilities. - **CIO Challenges**: Healthcare CIOs face operational challenges in retaining qualified IT resources and maximizing ROI from existing IT systems. ## Related Topics [[Budget Management]]; [[Budget Allocation]]