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
This metric can be found on the Financial Insights > Practice forecasting > Billings and Patients tab
The sections included in this article relating to the Practice forecasting metrics are:
- Practice forecasting: Billings and Patients
- Predicated billings
- Predicated patients
- Predicated billings and patients by Practitioner
- Trend of predicated billings and patients
- Predictions report
Practice forecasting: Billings and patients
Our Practice Forecasting tool allows you to determine what the impact would be on your practice if you made changes to the following variables in your Practice;
Use the filters on the left-hand side to adjust the following;
- Historical data - you can change the time period that your data is looking at, to ensure that the averages being calculated are true to your practice.
- Predication period (weeks) - the data that will show on the metric, will be based on the number of weeks you select. It will show the data in your PMS appointment book.
- Select Practitioner - filter by Practitioner to see specific Practitioner/s data.
Each of these metrics will show the data on the top line based on the filters selected. For example, the filter prediction period is set to 1 week in the below data - this means my session hours for the week ahead are currently 389.
You will notice that there is an input field for each metric. Typing here allows you to adjust these numbers, based on any changes that are planned around these variables. Adjusting these variables, allows you to understand what impact this change would have on your practice in the future.
On the final line of these metrics, a variance percentage will show. This variance will indicate the change to the original data in each metric. For example, the example above shows the variance between the original session hours of 389 to 410 is (+) 5.5%
TOP TIP! Use this powerful tool to worth together with your Practitioners. You can show a Practitioner how their billings can improve if they work additional hours, or the potential outcome of increasing $ per appt.
Predicted billings
Based on the information already held, or the new information you have entered into the input area, this metric will be calculated. If it has changed from its original state, based on values you have just added, there will be a variance that shows underneath. This will calculate by what percentage your predicated billings increase or decrease.
TOP TIP! Do you have a Practitioner who is leaving, or coming on board? It is easy to understand from this forecaster, what impact their hours will have on your Practice using this tool.
Predicted patients
Based on the information already held, or the new information you have entered into the input area, this metric will be calculated. If it has changed from its original state, based on values you have just added, there will be a variance that shows underneath. This will calculate by what percentage your predicated patients will increase or decrease.
TOP TIP! Have you considered whether the new volume of patients impacts your staffing levels?
Predicted billings and patients by Practitioner
Based on the information already held, or the new information you have entered into the input area, this graph will be calculated. It will show your predicated billings and patients over the predication period (filter), by Practitioner.
TOP TIP! Use the predicated patients metric to ensure you have enough staff scheduled in the future if the demand is significantly increased.
Trend of predicted billings and patients
Based on the information already held, or the new information you have entered into the input area, this trend line will be calculated for the prediction period (filter).
Predictions report
Based on the entered session hours, billings per appointment and appointments per hour this is a prediction of the possible billings and patients seen for the selected prediction period.
TOP TIP! Use the 'Group by' filter to look at this data on a daily, weekly or monthly basis depending on the prediction period selected in the filter.
