BC Advantage - 2009 Issue 3

Can a Hospital Reasonably Predict Its Net Outpatient Revenue on a Daily and Month-To-Date Basis?

In this issue of Insights, we would like to explore a real life situation that is occurring in a significant number of hospitals throughout the country. Outpatient daily statistical reports (Management's "dashboard") indicate that volumes in various outpatient departments are over the budgeted statistical volumes and gross charge amounts. However, when the month-end close is completed, the Finance department reports that the outpatient net revenue is under budget and non-financial Management question the results and the credibility of the Finance department. This article focuses on a hospital that experienced this situation and shares with you the actions that were...

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