This forecaster allows you to determine the appointments per hour needed to break even and meet budget based on past trends in billings and hours worked
Practice forecasting in Cubiko allows you to determine a variety of outcomes that could be possible, based on the information you provide.
This metric can be found on the Financial Insights > Practice forecasting
The forecaster uses a combination of the following data, in order to calculate the metrics you see on this page:
- Hours worked
- Billings trends and history
- Service fees per user (set by you)
- Weekly income and expenses (set by you, outside of billings)
- Your practice budgets (set by you)
NOTE: Where we indicate that data needs to be set by you, this information needs to be added to your Settings. If you have not added this information to Settings, that's ok, you can still use the forecaster by manually entering the information as outlined below. However, if you would rather have it here every time you look at these metrics, it is best to enter it in Settings. For more help and guidance on how to do this, click here.
The sections included in this article relating to the Practice forecasting metrics in the Billings needed to break even tab are:
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Watch our team discuss these metrics in our Coffee & Cake webinar!
- Weekly income
- Weekly expenses
- Billings needed to break even
- Billings target
- Appts per hour to break even next week
- Apps per hour forecasting
- Session hours to break even next week
- Session hours forecasting
- Billings per appt to break even next week
- Billings per appt forecasting
You will see at the top of this page that there are additional tabs in our Forecaster, but we won't explore them all here.
If you would like to see the knowledge base articles on these additional tabs, please go to:
- Practice forecasting: Billings and patients (*coming soon*)
- Practice forecasting: Full-time equivalent (Doctors) (*coming soon*)
Watch our team discuss these metrics in our Coffee & Cake webinar!
Watch our Coffee & Cake webinar where we discuss the Practice forecasting cabinet in detail.
NOTE: We like to keep Cubiko up to date and the look and feel of Cubiko doesn't always look the same in our videos, but the information is the same. Enjoy the webinar! Please contact us at support@cubiko.com.au if you have any questions about these metrics, our team is happy to help!
Weekly income
This metric shows the actual weekly income earned for your practice outside of your practice billings. This amount could include room rental or hire and your PIP and WIP income.
This amount is based on the information entered in your Settings. If you haven't entered this information, you can enter a value manually using the text box in this metric as below.
NOTE: Ensure you divide your PIP or WIP payments into weekly sums when you enter this information into your settings.
Weekly expenses
This metric shows the actual weekly expenses incurred by your practice. Expenses will include all your costs associated with running a practice, such as wages, building and rent, supplies and marketing costs etc. This amount is based on the information entered in your settings. If you haven't entered this information, you can enter a value manually using the text box in this metric as below.
TOP TIP! Use the practice forecasting tool to see what billings your practice will need to generate to cover the extra expense of an admin or nurse team member. Adjust the weekly expenses to include the weekly cost of a new team member to then see what practice billings will be needed to break even and meet your billings target.
Billings needed to break even
This metric shows the total gross billings the practice needs to generate to break even based on the previous amounts entered for weekly income and expenses and based on the percentage of gross billings paid to the practice.
The practice share of billings is calculated from the percentage amount that has been entered in your Settings for each Practitioner. This then calculates the approximate weekly billings needed to ensure that the practice share of billings covers the difference between the weekly income and expenses of the practice.
TOP TIP! You can use the filters to adjust the historical calculations shown on the page using the Historical data filter to choose from Last week up to Last 52 weeks. Also choose your Prediction period (weeks) to select how far in the future you want to forecast your Billings needed to break even.
Last Week means the previous full Monday to Sunday time period and Next Week means the next full Monday to Sunday time period.
Billings target
This metric shows the actual weekly billings target (gross) that the practice wants to achieve each week. This information is based on the figure that has been entered in your settings. You can change your weekly budget in your settings anytime. If you haven't entered this information, you can enter a value manually using the text box in this metric as below.
TOP TIP! Understanding what your budget needs to be can be tricky. In this section, it's a good idea to think about your break-even point. Does it outweigh your target? Perhaps you need to increase your targets to ensure it covers your break-even point, with the goal of becoming profitable. This will help you understand what your goals are - what do you need to do to achieve this? Use this in tandem with our other metrics - how does your Future Utilisation look? Perhaps you can ensure you are fully utilised by using our Item optimisation metrics?
Appts per hour to break even next week
This metric shows the number of appointments per hour that are needed to generate the approximate billings required to make sure that the practice share of billings covers the difference between the weekly income and weekly expenses of the practice.
This is assuming that your doctors will work the same number of hours that are currently scheduled for and will, on average, bill the same per appointment as they have done over the past 4 weeks. This is calculated on the entered target figure.
Also shown is the historical average number of appointments your Practitioners completed.
TOP TIP! This metric can help you understand if you have enough Practitioners to cover your weekly costs. Can you reduce expenses, while you work on generating more income with the existing Practitioners and the hours you have available?
Appts per hour forecasting
This metric shows the number of appointments per hour that will be needed to generate the approximate billings required to make sure that the practice share of billings covers the difference between the weekly income and expenses of the practice for the next 3 weeks.
This is assuming that your doctors will work the same number of hours that are currently scheduled for and will, on average, bill the same per appointment as they have done over the past 4 weeks. This is calculated on the entered budget figure.
You can view your current average appointments per hour, the appointments needed per hour to meet budget, and the appointments per hour needed to break even for the next week, two weeks, and three weeks.
Session hours to break even next week
This metric shows the number of session hours that would be needed to generate the approximate billings that are needed to make sure that the practice share of billings covers the difference between the weekly income and expenses of the practice.
This is assuming that your doctors will see the same number of patients per hour and on average, bill the same per appointment as they have done over the past 4 weeks. This is also calculated for the billings target entered. Also shown is how many session hours are open for your doctors currently.
Session hours forecasting
This line graph shows the number of session hours that would be needed to generate the approximate billings needed to make sure that the practice share of billings covers the difference between the weekly income and expenses of the practice for the next 3 weeks.
This is assuming that your doctors will see the same number of patients per hour and on average, bill the same per appointment as they have done over the past 4 weeks. This is also calculated for the billings target entered.
Billings per appt to break even next week
Based on the current number of appointments booked for the next week, how much, on average, would need to be billed per appointment to generate the approximate billings needed to make sure that the practice share of billings covers the difference between the weekly income and expenses of the practice. This is also calculated for the billings target entered. Also shown is historically how much your doctors billed per appointment.
Billings per appt forecasting
Based on the current number of appointments booked for the next 3 weeks, how much, on average, would need to be billed per appointment to generate the approximate› billings needed to make sure that the practice share of billings covers the difference between the weekly income and expenses of the practice. This is also calculated for the billings target entered.
Also shown is historically how much your doctors billed per appointment.
