Written by Nils R. | Sep 14, 2020 7:00:00 AM
What is
a
Patient Revenue Budget
? Patient Revenue input forms are considered key components of a healthcare budget model and are often used by budget managers to calculate the various components that make up the expected patient revenue. Key functionality in this type of form provides input of items like charge units, charge rates and price increases. Based on revenue assumptions, it then calculates the total revenue amounts for areas such as inpatient and outpatient activities. You will find an example of this type of form below.
Purpose of
Patient Revenue Models Hospitals and clinics use Patient Revenue Models to enable dynamic and easy-to-maintain revenue planning. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its revenue planning process, as well as, reduce the chances that budgets become static and where adaptation to changing circumstances becomes time consuming.
Patient Revenue Model
Example Here is an example of a Patient Revenue input form. [caption id="" align="alignnone" width="2560"]
Patient Revenue Budget Example[/caption] You can find hundreds of additional examples
here.
Who Uses This Type of
Form
? The typical users of this type of form are: Budget Managers, analysts and CFOs.
Other
Form
s Often Used in Conjunction with
Patient Revenue Models Progressive Financial Planning & Analysis (FP&A) Departments sometimes use several different Patient Revenue Models, along with the rest of their budget model and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
