Strategic Planning Processes And Hospital Financial Performance

Many common management practices in healthcare organizations, including the practice of strategic planning, have not been subject to widespread assessment through empirical research. If management practice is to be evidence-based, evaluations of such common practices need to be undertaken. Three dimensions of the strategic planning process - having a strategic plan, assigning the Chief Executive Officer (CEO) responsibility for the plan, and involving the board - are positively associated with earlier financial performance. Further longitudinal studies are needed to evaluate the cause-and-effect relationship between planning and performance.