Budget-Modeling
- Forecast net revenue impact by service line and department
- Adjust revenue, expense drivers
- Project new service line growth
- Reflects physician recruitment, physician alignment
- Net revenue-neutral analysis
Our Process
You can model any number of different pricing scenarios quickly and easily to take the guesswork out of budgeting. Our algorithm delivers robust budget-modeling, enabling you to score variations of revenue drivers to project net revenue impact by service line and department.
We generate a fresh market analysis to serve as a comparative. Then we qualify your immediate needs and goals:
- Is net revenue growth your top financial priority? If not, what is?
- Which services do you want to target for new revenue growth?
- Which services have new physician recruits?
- Do you want to take advantage of all or only select market opportunities based on brand?
- How to you want to position your hospital in its market?
We use our third generation algorithm to provide budget-modeling and financial modeling any season. This will enable you project with 99% plus accuracy both service line variation and net revenue. In addition, your takeaways from our fresh market analysis and modeling will enable you to launch a new branding campaign to take advantage of market differentiators and meet specific revenue needs.
Deliverables
1. Create a new fiscal budget that grows net revenue strategically
2. Model all revenue drivers and components using historical and new data analysis
3. Project the likely variation in service line acuity, utilization, and net revenue
4. Project with accuracy the likely variation in payer mix and reimbursement
5. Drill-down to the likely variation in demographics per service line and department
6. Drill-down to the likely variation in how consumers become patients
7. Project the likely value of existing patients and new patients per service line and department
8. Drill-down to the likely value of new branding initiatives by service lines and departments
Using financial budget-modeling is the only way to satisfy immediate financial needs and achieve strategic goals. You can model any number of potential pricing and revenue scenarios quickly and easily, and tweak your numbers to reflect individual department or service line carve-outs.
It is more important than ever to streamline the budget process and create precise numbers which reconcile individual targets with physician alignment, changing demographics, and new ways of delivering services. Our algorithmic tool enables you to do this in real time in any season, not just in the run-up to the new fiscal operating period