Written by Nils R. | Apr 8, 2021 7:00:00 AM
What is a
Revenue Dashboard
? Revenue Dashboards for healthcare providers are considered performance analysis tools and are used by Executives and CFOs to monitor revenues metrics. Some of the main functionality in this type of dashboard is that it gives users a very easy and clean interface to review: 1) Revenue by patient type, 2) Revenue by facility, and 3) Monthly revenue trend with actual and budget comparison. The filters enable users to slice the visuals into more granular data. You find an example of this type of dashboard below.
Purpose of
Revenue Dashboards for Healthcare Providers Healthcare organizations use Revenue Dashboards to analyze trends and comparisons of income by patient type and from different facilities. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its revenue generating strategies, and it can reduce the chances that important trends are missed with resulting impact on margins and surplus/deficit.
Example of a
Revenue Dashboard for a Healthcare Provider Here is an example of a Revenue Dashboard for healthcare providers with trends and budget comparison. [caption id="" align="alignnone" width="2560"]
Example of a Revenue Dashboard for Healthcare Providers[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboard
? The typical users of this type of dashboard are: Executives, CFOs, analysts.
Other Reports Often Used in Conjunction with
Revenue Dashboards Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Revenue Dashboards, along with profit & loss reports, balance sheets, cash flow statements, annual budgets and forecasts, billing dashboards, detailed revenue reports 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
