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Utilizing Budgeting Skills for Hospice Operations Analysis
[1833]
$45.00


[PGM1833] Utilizing Budgeting Skills for Hospice Operations Analysis

Summary: How to create a budget; how to use the budget for financial management; hospice payment caps & payment reform.

HCSSA Topic(s) Addressed:

  • §97.259[d][4]agency responsibilities
  • §97.260[a][3]basic principles of management in a licensed health-related setting
  • §97.260[a][7]financial management

Faculty: Kohr, Bonnie

Program Description: The budgeting process, when done completely, requires a hospice to look at average length of stay, hospice levels of care, utilization, productivity, in addition to historical costs. The days of just adding 5 or 10% to last year’s costs for the new budget are a thing of the past. Keeping the same budget as last year isn’t going to work either. This program takes you step by step through the budgeting process. Step one is to gather the historical data not just on costs, but on items such as length of stay, levels of care, utilization, productivity and payment adjustments. Step two consists of creating a budget on an excel spreadsheet that ties all of these factors together to determine revenue and expenses.

The final step is learning how to use the budget – both to change scenarios in the budgeting process and to analyze the results of ongoing operations by looking at both cost and volume variances. When a hospice is able to produce timely monthly financial statements and analyze the variances from the budget they can make immediate decisions that will allow them to adjust to real time changes in the industry. This ability to quickly make adjustments can be the difference between success and failure.

Program Objectives: Upon completion of this program, the viewer will be able to:

  • Identify the resource materials necessary to provide accurate data for the budget process
  • Apply the steps necessary to develop a meaningful budget
  • Analyze operations using the budget as the key tool

About the Presenter: Bonny Kohr is a Registered Nurse, a Certified Homecare Coding Specialist and a Certified Homecare and Hospice Executive. Bonny provides clinical, operational, regulatory and reimbursement consulting services for home health, hospice and other healthcare providers. Prior to joining FR&R Healthcare Consulting, Inc., Bonny worked 23 years in home health care. She was responsible for the clinical operations, information systems, and program development during her tenure. Bonny guided the agency through the development of electronic health records and the transition to OASIS and the Prospective Payment System and brings a diverse background of both clinical and operational experience to her consulting role.

Education-Training Credits:

  • 1.50 Hr(s) HCSSA Administrator/Alternate

[PGM1833] Utilizing Budgeting Skills for Hospice Operations Analysis

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This product was added to our catalog on Saturday 03 December, 2011.
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