Clearer Decisions | Informed Direction | Profitable Strategies
PowerBudget streamlines the budgeting and reporting process, freeing up financial managers and department heads to be more strategic and your health service to be more agile and responsive given the constant change health care is now experiencing.
PowerBudget delivers a unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive, with collaboration and web access from anywhere.
- Create deeper insight into your operating costs, allowing for better expense management and increased efficiencies. Having instant access to up-to-date, accurate financial information drives enhanced decision-making.
- Markedly increase the functionality and efficiency of budgeting and forecasting processes. PowerBudget users typically reducing their timeframes by up to 70%
- Reduce the non-value-add workload on the finance team
- Eliminate systemic errors related to multiple spreadsheets and spreadsheet versions by creating a single source of truth
- Automate budgeting, forecasting and reporting to drive efficiencies across financial processes at all levels of your business.
- Rapidly reforecast as conditions change and complete multi-value/variable scenario planning.
- Enable faster access to actual business information through the year, providing insight and the ability to react appropriately and more effectively
- Empower non-financial managers, give them ownership of their budgets and promote transparency and true accountability.
- Rapid return on investment – PowerBudget reduces budget cycles from months to weeks, and our clients typically realise a return on their investment within the first year of implementation
Does your budgeting tool address healthcare industry requirements?
PowerHealth’s PowerBudget greatly enhances the budgeting process within the healthcare industry. For example:
Manage Service Agreements and Amendments
Track your funding and activity targets. Create a budget and forecast, then import actuals, all within a single, centralised system.
Develop Service Plans
Incorporate capacity/demand metrics (beds, separations, average length of stay (ALOS), theatre cases, outpatient department (OPD) attendances) in budget build.
Perform Detailed Revenue Planning
Assign own source revenue (private patient funding) by revenue type (accommodation, theatre, consults and prostheses).
Create Specific Activity Targets
Drill down further to the clinical level by establishing a target that includes: Clinical Division/Stream x Activity classification (DRG, URG, Tier2) x Patient Care Area, by integrating data from PowerHealth's costing and revenue tool, PPM.
Assign Activity Based Budgets
Use PPM costing data to assign activity based budgets to Clinical Division/Stream and Patient Care Area levels (high level by activity classification).
Properly Assess All Options with Activity Modelling
Profile revenue/expense by activity classification for commissioning/
decommissioning services and reviewing marginal costs.