SAMPLE REPORTS: A SPECIAL INSIDE LOOK FOR MORE COST-EFFICIENT OPERATIONS

Transcription

1 HOSPICE Increase your profitability with up-to-date, industry-specific benchmarks SAMPLE REPORTS: A SPECIAL INSIDE LOOK FOR MORE COST-EFFICIENT OPERATIONS 1

2 Financial Monitor is the culmination of a 50-yearold vision by the thought leaders at Healthcare Consultants. 2

3 The tool allows you to analyze your performance AND see how you compare against your peers. Here s a look at just some of the reporting features g 3

4 PAYOR COMPARISON See your gross and net margins at a glance: Profit and cost analysis by payor Compare your agency to real-time Medicare profitability benchmarks Compare monthly revenue and profitability to budget Hospice Payor Comparison Consolidated Revenue (in thousands) Payor 2016 Q Q Q Q1 Nat'l Region Non-Profit Medicare $822 $833 $864 $868 $968 $1,682 $1,335 Medicaid $41 $41 $35 $31 $46 $108 $61 Other $67 $63 $57 $59 $86 $139 $102 Gross Profit Margin Overall Net Profit Margin Overall Hospice Payor Comparison - Consolidated Hospice Gross Margin by Payor Home Health, Inc. Net Margin by Payor * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. Copyright 2017 Healthcare Consultants, LLC 4

5 PAYOR COMPARISON BY LOCATIONS Compare your gross margin by site of care: Profit and cost analysis by payor by location Breakout and compare how your Inpatient unit is doing to benchmarks Drill down and compare your agency to like agencies Hospice Payor Comparison - In Home Hospice Gross Margin by Payor Hospice Payor Comparison - Inpatient Facility Hospice Gross Margin by Payor * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 5

6 BILLING ANALYSIS Compare your agency s cash collection performance: Track Days Sales Outstanding by payor Analyze A/R over 90 days Review your Medicare billing statistics ELIMINATE AUTOMATE Multiple Your Key Excel Reports Sheets XLS Hospice Billing Analysis - Consolidated Hospice Days Sales Outstanding By Payor Overall Medicare Medicaid Other Private Insurance / Self Pay Copyright 2017 Healthcare Consultants, LLC * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 6

7 DIRECT COST ANALYSIS Analyze and compare direct costs: Compare your direct cost per day Track your costs by level of care Review your costs and compare to benchmarks Review your inpatient facility costs COMPARE Your Key Cost Drivers Hospice Direct Cost Analysis - In Home Hospice Average Direct Cost per Day Total Direct Cost By Level of Care Routine Home Care General Inpatient Respite Inpatient Continuous Care per Hour Copyright 2017 Healthcare Consultants, LLC Hospice Direct Cost Analysis - Inpatient Facility Hospice Average Direct Cost per Day Total Direct Cost Cost Per Facility Day Ancillary Personnel Space Occupancy Copyright 2017 Healthcare Consultants, LLC 7 * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor.

8 PER VISIT COST ANALYSIS Analyze and compare direct costs: Compare your cost per visit/day Review your supply and ancillary costs COMPARE Your Key Cost Drivers Track your ancillaries by facility type Hospice Direct Cost Analysis - Consolidated Hospice Ancillaries - Cost per Day In Home Hospice Inpatient Facility Hospice Average Direct Cost per Visit by Discipline * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 8

9 ANCILLARY COST PER DAY ANALYSIS Review your ancillary costs: Compare your costs with in depth detail See differences by facility type Track any trends within your supplies COMPARE Your Key Cost Drivers Hospice Supply Cost Analysis Breakdown of Ancillaries Cost per Day by Setting - In Home Hospice Copyright 2017 Healthcare Consultants, LLC Hospice Supply Cost Analysis Breakdown of Ancillaries Cost per Day by Setting - Inpatient Facility * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. Copyright 2017 Healthcare Consultants, LLC 9

10 LEVEL OF CARE ANALYSIS Easily Review your Hospice Statistics: See your hospice distribution by level of care Track your visits per day Analyze your length of stay by location Hospice Level of Care Analysis - In Home Hospice Distribution by Level of Care Revenue Days Visits Patients Visits per Day Continuous Care 0% 0% 2% 2% General Inpatient 8% 2% 2% 22% Respite Inpatient 0% 0% 1% 2% Routine Home Care 91% 98% 95% 74% Number of Discharged Patients Length of Stay (days) - In Home Hospice Total Discharges Number of Live Discharges Average Length of Stay Median Length of Stay Hospice Statistics Report - Inpatient Facility Hospice Average Daily Census Average Length of Stay - Inpatient Unit Average Case Load * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 10

11 GENERAL COST ANALYSIS Plan budgets using data from indirect cost analysis: Total Administrative & General Costs Measure your costs by department: Marketing, Billing, Intake, Information Systems and more A&G Cost Per Visit or Day Organizational Administrartive and General Cost Analysis Administrative and General Breakout as a Percent of Total Revenue Supervision Copyright 2017 Healthcare Consultants, LLC * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 11

12 BACK OFFICE STAFFING RATIOS Hold your back office accountable for their performance: Measure Your Staffing Ratios by Department Marketing Clinical Supervisors Information Systems ELIMINATE AUTOMATE COMPARE Multiple REDUCE UTILIZE Yourself DSOs Real-Time by Key to Excel Several Competitors Reports Data Sheet Days Organizational Overhead Staffing Analysis Average Number of Patients per Clinical Supervisor FTE Average Number of Admissions per Sales and Marketing FTE Average Number of Patients per Information Technology FTE Average Number of Referrals per Sales and Marketing FTE C * Data used in this sample report are not real benchmark data, but a composite from the testing database of Financial Monitor. 12

13 In just 15 minutes, you can fully streamline your reporting process to make reliable and informed business decisions. Financial Monitor is now fully integrated with: Axxess Technology Solutions Complia Health HealthWyse Homecare Homebase Change Healthcare Netsmart All Accounting Software 13

14 We have effectively used this benchmarking tool to analyze our home health and hospice costs and identify areas where we could be more efficient. Walt Borginis, III, CPA, CGMA, MBA CFO of VNA Greater Philadelphia 14

15 GET SIMIONE FINANCIAL MONITOR NOW CALL: 15