Patient Flow Based Hospital Financial Performance Models
Bhattacharya, Biplab Sudhin
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Financial management in healthcare organizations plays an important role in driving strategic and investment decision-making. Having the capability to evaluate "what-if" scenarios in terms of the revenue implications of patient volumes can enable healthcare executives give more basis to their decisions. This work creates a framework for a financial dashboard by modeling the patient flow through a typical health care organization. The model uses inputs on types of patients that are stratified by the bracket of revenue that the patient contributes to the organization. The input data required for this model to work is specific to each organization that is being studied. Since, the input data is sensitive and is not available, publicly available data was used for pilot implementation. The pilot test is implemented on two local hospitals and the results for revenue show to be true within 35% of the actuals. This framework also incorporates bed utilization and the pilot test show satisfactory results for bed utilization.