Software Solutions

Budgeting

Help organizations reach their budgeting and performance goals with timely, accurate and detailed budgets. Work collaboratively with client finance team and leadership, while accomplishing deliverables. Integrate with existing team members. Provide direction, education, and information, working through challenges and being solutions oriented. Act as a source of contact and resource to team and end users. Support budget cycle administration as needed. 

  • Develop project plan and budget timeline

  • Develop budget setup checklist, specific tasks, due dates, and assignments

  • Roll system forward and update budget system tables

  • Audit system setup, by reviewing reference tables, global assumptions, and processes. Make best practice recommendations. Build system, business, department, and individual account level assumptions.

  • Create variable and fixed FTE budgets based on paid or worked hours per unit of service

  • Provide modeling solution to bridge the gap from strategic, business, capital, and long-range plans into operating budgets and initiatives 

  • Incorporate volume assumptions relating to growth, closures, practice changes, acquisitions, joint ventures, partnerships, affiliations, divestiture plans for services, service lines and locations

  • Evaluate and plan for provider practice changes due to provider retirement/replacement, recruitment, practice acquisitions, and productivity decisions

  • Develop provider productivity metrics, variability, and payor mix shift impacts to clinics and downstream revenue, volumes, and compensation assumptions

  • Create compensation models from contracts and supplemental sources, to capture and budget all compensation types, including clinical, academic, research and teaching (CART)

  • Incorporate average length of stay trends, seasonality, payor mix shifts, reimbursement and covid changes and sensitivity analysis into volume assumptions

  • Translate provider practice changes to clinical, hospital and ambulatory budgets

  • Update and reconcile data to source systems

  • Create plan files, test assumptions and calculations. Review reconciliation reports during testing and throughout the budget process. Communicate findings, recommend solutions, resolve, and retest.

  • Update security and process workflow and test

  • Provide staff and end user training sessions

  • Develop custom reporting. Alert clients to trend variations.

  • Analyze and prepare packages for Finance Committees and Board presentations

  • Develop or update finalized budget extracts. Reconcile back to source system

 

Provider

Help clients reach provider performance goals with timely, accurate and detailed reporting and budgets. Integrate & work collaboratively with the organization, team & leadership to achieve deliverables. Provide direction, education, and information to find solutions to challenges. Act as a source of contact and resource to team and end users. Support monthly reporting and annual budget cycle administration based on client need.

Reporting

  • Evaluate available external data, then create, test, and reconcile imports to ERP system

  • Assist with external and internal data assessment to determine key metrics to track

  • Develop provider productivity metrics, variability, and payor mix shift impacts to clinics and downstream revenue, volumes, and compensation assumptions

  • Build customized tables, imports, report packages, batches, and distribution processes

  • Create custom reports and scorecards to measure and manage productivity to internal or external benchmarks (MGMA, Truven or Comparative Analytics)

  • Create performance reports based on organization metrics

Strategic Planning

  • Develop proformas for provider recruitment, performance improvements, growth, new services offerings, location moves, additions, closures or changes in programming, practice acquisitions or divestiture and downstream impacts

  • Create compensation models from contracts and supplemental sources, to capture and budget all compensation types, including clinical, academic, research and teaching (CART)

  • Evaluate and plan for changes due to provider retirement/replacement, recruitment, practice acquisitions, and productivity decisions

 

Annual Budget

  • Audit provider system setup prior to budget cycle

  • Outline current setup and metrics reported to ensure budgets are created at the appropriate level with the appropriate budget drivers

  • Update reference tables, create test budgets and test extensively all aspects of provider volumes and compensation due to sensitivity/impact of any changes to the budgets

  • Create custom reports to monitor and ensure all aspects of provider, department, and practice budgets result in accurate and complete data

  • Incorporate all volume assumptions (growth, closures, acquisitions, divestiture plans, etc.)  in creation of provider, practice & department level budgets

  • Incorporate average length of stay trends, seasonality, payor mix shifts, reimbursement, and sensitivity analysis into volume assumptions

  • Translate provider practice changes to clinical, hospital and ambulatory budgets

  • Build budgets, while testing assumptions and calculations. Review reconciliation reports throughout the budget process. Communicate findings, recommend solutions, resolve, and retest.

  • Update security, process workflow and test changes prior to budget distribution

  • Train finance staff and end users

  • Alert clients to trend variants throughout budget process

  • Analyze and prepare report packages for Finance Committees and Boards presentations

  • Create budget extracts and reconciliation tools for export to GL System

 

Long-term Financial Planning

Help clients reach their long-term financial planning goals with timely, accurate and detailed long-term financial planning. Integrate & work collaboratively with the organization, teams, and leadership to achieve deliverables. Provide direction, education, and information to find solutions to challenges. Act as a source of contact and resource to teams and end users. Support the long-term financial planning cycle administration as needed.

Preparation and Set Up:

  • Develop project plan and financial plan timeline

  • Develop financial plan setup checklist, specific tasks, due dates, and assignments 

  • Roll system forward and review prior year setup 

  • Update and/or add content based on responses to questions above 

  • Map dimensions, models, nodes and populate data and reconcile to source to insure correct mapping 

  • Review, update or add process definitions

 

Capital Planning/Tracking

  • Develop detailed capital plans by assessing current and projected physical needs

  • Track capital expenditures and allocations

  • Report and monitor capital planning performance

 

Cost Accounting & Decision Support

  • Support cost accounting implementations, identify and procure metadata, reconcile data imports to source systems, configure cost basis and methods

  • Develop custom reporting and dashboards in support monthly cost cycles. Use to share knowledge with organizational leadership

  • Provide decision support using comprehensive data, analytics and toolsets

  • Assist staff with understanding and reconciling data between costing and financial reporting

 

Productivity & Benchmarking

  • Uncover organizational opportunities and introduce solutions

  • Gain visibility to causes of organizational performance

  • Evaluate utilization data and metric comparisons

  • Review hours, FTEs, productivity standards and volumes to ensure accurate reporting performance

 

Strategic Planning

Support the development of models for multi-functional organizations or systems from single to multiple hospital locations, as well as long-term care facilities, ambulatory surgery center, clinics, skilled nursing facility (SNF), rehabilitation center inpatient or free-standing, psychiatric hospital, or inpatient units within acute hospital setting, overhead, support services, dialysis centers and outpatient hospital and/or stand-alone services based on leadership criteria 

  • Qualify, quantify, prioritize, and apply impacts of operational, market strategies and strategic initiatives 

  • Evaluate and integrate proposed capital investments, short and long-term profitability targets, global assumptions (drivers), corporate allocations, balance sheet defaults and debt management covenants

  • Present to leadership, with supporting documentation of assumptions

  • Integrate with rolling forecast and current year forecast