Medicare Revenue Forecaster
Each year, hospitals must undergo the tedious process of estimating
Medicare revenue for the following year. Regardless of the type of
hospital, this process must always begin with inputting recent data
concerning payments, volumes, and services offered, projecting
information forward, and then adjusting for Medicare payment system
changes. The Medicare Hospital Revenue Forecaster™ is an
interactive budgeting and teaching tool that completes much of this
process for you.
The developer of the Medicare Revenue Forecaster, Hospital
Association of New York State (HANYS) is devoted full time to monitoring
the many changes in Medicare payment rules and updating the Forecaster
to reflect these changes. The Forecaster arrives pre-loaded with
your hospital’s payment history to serve as the basis for
projections. This allows you to focus attention on the details of
your own hospital’s plans for volume and cost changes or changes
in the types and levels of services offered.
The Forecaster addresses all areas of Medicare hospital reimbursement
for both prospective payment systems (PPS) hospitals and cost-based
payments for Critical Access Hospitals (CAH). The Forecaster helps
hospitals estimate the impact of changes in the PPS
rates. Critical Access Hospitals can take advantage of the
Forecaster’s ability to easily model changes in square footage and
service allocations.
HANYS provides individual internet
training sessions to support users. These sessions provide
information about using the Forecaster for budgeting and operations and
how changes in Medicare regulations impact the hospital financially.
Sample versions of the Forecaster pre-loaded with data from real
hospitals (one teaching hospital, one Critical Access Hospital, and one Sole Community Hospital) are
available. These demonstration versions are fully functional and
allow the user to see and change values and formulas to evaluate the
power of this tool. OHA members are invited to test the models and
to participate in free demonstration calls which are scheduled
quarterly. Calls are currently scheduled for 11 a.m. CT for PPS
hospitals and 1 p.m. CT for Critical Access Hospitals on the following
days:
March 18 — June 17 — Sept. 23
— Dec.
9
Please contact Rick Snyder, VP/Finance & Information Services,
for additional information, to receive a demonstration file or
call-in information: E-mail rsnyder@okoha.com or phone (405) 427-9537.
(2/19/08)
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