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Financial modeling: Rx for financial success.

Authors: D, Marino;

Financial modeling: Rx for financial success.

Abstract

In an era of managed care, cost cutting and finding ways to increase revenue are key goals in the survival of group practices. Many practices find that they have to boost their revenue by a certain amount (for example, 20-30% within the next three years) to maintain viability in the health care marketplace. Understanding how to generate that revenue and influence short-term and long-term financial outcomes is a far trickier process. This article details how practice administrators can influence a practice's bottom line through a three-step process: (1) identify the components of the practice's financial performance and drivers of performance results, (2) diagnose the practice's current financial situation, and (3) pinpoint benchmarks and targets for success.

Keywords

Economic Competition, Financial Management, Managed Care Programs, Group Practice, Efficiency, Organizational, United States

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Powered by OpenAIRE graph
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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