Written by Nils R. | Dec 14, 2020 8:00:00 AM
What is
a
Statistical Budget Model for a Healthcare Provider
? Statistical budgets are considered essential planning templates for healthcare providers and are used by budget managers to enable their users to capture key non-financial items. Some of the main functionality in this type of budget input template is that it is parameter driven so each department can enter their own data and there can be multiple budget or forecast versions. The example shows months going across the columns and statistical items are listed down the rows. These include: 1) Different types of patient admits, 2) Percent of AR resolved, 3) Average charge per patient, 4) Patient days, and more. You find an example of this type of budget input template below.
Purpose of
Statistical Budget Input Forms Nonprofits and associations use Statistical Budget Input Forms to provide an easy way for managers to capture statistics as part of their overall budget process. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its visibility to key revenue and expense drivers and optimize planning outcomes as well as reduce the chances that budgets are too focused purely on financial items.
Statistical Budget Input Form
Example Here is an example of a Statistical Budget Input Model for Healthcare Providers. [caption id="" align="alignnone" width="2560"]
Statistical Budget Model Example for a Healthcare Provider[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Budget input template
? The typical users of this type of budget input template are: Budget managers and department managers.
Other
Budget input template
s Often Used in Conjunction with
Statistical Budget Input Forms Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Statistical Budget Input Forms, along with budget templates for revenues, KPI metrics, payroll, operating expenses, balance sheet items 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
