- Hospital Planning Begins with the Patient: Financial models for hospitals start with assumptions about patients and vary across medical departments: patient days for NICU, visits for Emergency Room, procedures for Lab, etc.
- Revenue is Driven by Billed Units & Rates: Revenue is based on units x rate = amount billed. Example: (patient days) x (patient charges per day) = total billed amount.
- Reimbursement schedules impact cash flow: Billed amounts must be analyzed across payers which may have different reimbursement rates. While “cash-pay” is instant and can be applied to co-pays, some payers may take up to 120 days on average to reimburse hospitals which greatly impacts cash flow.
- Unique Utilization Rates: Forecasted bed-utilization rates across NICU, Inpatient, etc. are seasonal in nature and must be forecasted and compared to “bed-ceilings” or maximum patient-days available.
- What-if analysis: Multiple what-if scenarios must be managed in a single file to analyze and compare impacts such as adding beds, changing the payer-mix, and making changes to headcount.
Hospital financial models have unique planning requirements.
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Hospitals
