Financial Performance System©

In good times or bad, we all have a budget to meet and revenue goals to work towards. The focus on budgets and re-imbursements in healthcare remain a concern throughout our economy. Within foodservice, often the drivers influencing the final costs per patient day are not well understood and therefore not well controlled.  At dk Foodservice Solutions, LLC we start our fiscal evaluation in the Operational Assessment with the Financial Quickview©.

We continue with the ongoing data collection process in the Financial Performance System. We work with the Foodservice Director to identify where every dollar is being spent and whether it is a needed expense or an optional service. The Financial Performance System tracks expenses and activities providing Monthly and Year-To-Date reports that are reconciled with the Finance Department’s Responsibility Reports.

The Foodservice Director assumes full control of the Financial Performance System reports over the course of 6-9 months. Our goal is for the Foodservice Director to understand their expenses, revenues, controllables, financial impact of labor, and the cost benefit analysis of each service provided. With this knowledge, they will be able to recommend better business decisions about their budgets including potential reductions or increases based on a Return-On-Investment.

The Financial Performance System reports are used to assess the year-over-year performance improvement. Cost reductions are also documented as a result of the Management Development program through dk Foodservice Solutions, LLC.

Please contact us at ksalisbury@dkfsolutions.net for information on how to address your Foodservice Financial Documentation.