Net Revenue
- Financial data mining
- Revenue driver analysis
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Our Process
We specialize in deep data mining for financial analysis. Typically, this consists of at least two years of data plus current fiscal year data. Identifying historical context and confirming different trends go together. We do this quickly and effectively no matter the need or scope.
It’s easy to get ‘lost’ in the year-to-year budgetary process and lose sight of an emerging trend or trends that ultimately will begin to impact the hospital financially. Likewise, no one wants to miss an emerging uptick in a select service line that could be a new strong brand.
We provide a detailed analysis of the various drivers of revenue and expenses for clients by service line and setting. Then, we craft new strategies to take advantage of any new opportunities while limiting exposure to any new downward trend.
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Deliverables
1. Tease historical (and current) charge and payer data to distill revenue driver projected net revenue
2. Aggregate the data by individual revenue driver for each patient setting and each component
3. Use trend analysis to project likely the variation in revenue driver performance for the new fiscal year or period being modeled
4. Benchmark individual revenue driver key elements and performance with fresh market data
5. Separate and isolate any revenue driver data that experienced a change in the number of physician providers or other significant event
6. Separate and isolate any revenue driver data generated after a new branding campaign
7. Drill-down to the demographic component of all revenue drivers to identify change, duration, and impact
8. Use data takeaways to deliver actionable intelligence
We look at revenue drivers to discern emerging and long-term patterns, and then project the potential impact both short and longer term. This includes identifying changes in patient demographics and the financial impact of this change.
Typically, a deep data dive with trend analysis and predictive analytics projects with accuracy the likely impact of potential new strategies designed to increase net revenue. In addition, it usually uncovers new nuggets of opportunity.
Marketing differentiators, including brand strength, are an important driver of success, too. Each market strategy has a financial component and a consumer one. We reconcile the two via our predictive analytics to provide senior leaders with the decision support you need to make an informed decision.
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