Procedure Code * Rate - How are you Budgeting for this type of Revenue?

#1

Hello!
I’m wondering how other Prophix Users budget for revenue related to procedure codes, rates and utilization discounting.

Examples would be hospitals, nursing homes, group homes, adult day programs and the like. Do you budget at the client level specifically in cases where you know who the client will be (think nursing homes)? Do you budget by procedure code? Do you budget by funder? I would love to chat with you!

Thanks,
Emily

#2

Interesting Scenario.

I have not come across a Prophix installation / setup for Hospital / Nursing Home etc, however I was involved in Hospitality Project(Hotel/Restaurant).

Hotels Budget on Average Rate & Per night basis for each Room Type.

Restaurants Budget on Expected Person’s visit(PAX) and Average Check.

Bars usually Budget on PAX and Category of Liquor.

I think for each segment/type of Business you might need to create different drivers to budget more efficiently.

Regards,

Ali Arsalan

1 Like
#3

We don’t have anything like that for our budgets in Prophix.

#4

I would use DPM to setup your revenue forecasting. I have worked in a dermatology office and if I were to use Prophix for that business, I would have budgeted by product & service, not by patient. I would possibly further budget by provider.
For a nursing home, could you budget by bed? I am not sure what the various sources of revenue are for a nursing home.

#5

We have a separate cube set up with information from Power BI that records our tasks/sales/costs to be able to create reports by task type etc.
We have also used our costs exported into a template that we can use to uplift revenue on a % basis and then import into Prophix to create the budget and forecasts.

#6

Hi Emily! We budget by fund source instead of by client.

#7

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#8

We budget by margin in our budget.

#9

We do not budget like this.

#10

We are not in this industry, but would like to prepare budgets that more closely match to reporting we receive on revenue. Ours would include providers and types of services. Some of these services are discounted at different levels depending on the agreement with the provider. I am considering using DPM for this.

#11

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#12

We make our budget differently per business unit. Some of our business units do a price times quantity on customer level, others just price times quantity on a high level. This is still partly an Excel excercise, but we are working on bringing all this into Prophix the coming year to make the process easier.