Written by Nils R. | Dec 15, 2020 8:00:00 AM
What is
a
Revenue by Service Group Report for a Healthcare Provider
? Revenue by service group reports are considered operational reports and are used by accountants and analysts to monitor revenues for their different patient service offerings. Some of the main functionality in this type of report is that it automatically ranks the top twenty service groups by revenue. The chart on the top of the report makes it easy to compare the different offerings and the income they bring. The number section at the bottom of the report shows each service offering with their revenue for the period as well as their percent of the total revenues for all service offerings. You find an example of this type of report below.
Purpose of
Revenue by Service Group Reports with Rankings Healthcare providers use Revenue by Service Group Reports with Rankings to provide an easy way for healthcare managers to see which of their patient service groups drive the most significant revenues. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its revenue-related planning and strategies as well as reduce the chances that managers lose visibility to important drivers of their sources of revenue.
Revenue by Service Group Reports with Ranking
Example Here is an example of a Revenue by Service Group report with top 20 ranking. [caption id="" align="alignnone" width="2560"]
Revenue by Service Group Report Example for a Healthcare Provider[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Report
? The typical users of this type of report are: Executives and CFOs.
Other
Report
s Often Used in Conjunction with
Revenue by Service Group Reports with Rankings Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Revenue by Service Group Reports, along with billing and claims reports, revenue dashboards, income statements and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from management systems or 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
