Set user roles and accessibility
Use the full native capabilities of Excel (e.g. create formulas)
Create and customize visual dashboards and graphs for reports & analysis
Performance Canvas for the Medical & Healthcare Industry
If you are budgeting for equipment or procedures, services, or staffing, Performance Canvas enables you to have real time, accurate, and relevant financial and operational data. With Performance Canvas built-in business rules and formula-free calculations, you can be guaranteed easy and error-free budgeting and planning for the healthcare sector.
Actionable Data in just Minutes
With Performance Canvas what-if analysis, you are allowed comparison of actuals to budgets throughout the year by changing assumption values. You can also control these assumptions at the parent and some at child level and other criteria e.g. location, ward/department, doctor-in-charge
These capabilities allow you to see the immediate effect of these assumptions to your revenue, expenses, and cash flow. For example:
- How much money is available for new equipment investment?
- Do we have available funds for launching the latest procedures in chemotherapy or cosmetic surgeries?
- If the costs of hospital supplies increase, is there a need to increase patients ‘service fees?
Benefits of Performance Canvas:
- An integrated platform for reporting and analysis, budgeting , planning, consolidation that gives the medical industry an easily accessible and comprehensive overview of the company financial health
- Support of budget wages and benefits based on payroll data
- Management of costs such as training and retraining of staff, accreditation costs of the hospital, or other necessary medical certifications for the practitioners.
- Creation of plans using KPIs such as services offered, number of occupied beds, length of hospitalization, insurance policies, staffing costs
- Accurate tracking of costs by physician, nurse, respiratory therapists, procedure, or any medical unit
- Analysis of costs of services through measurement of provider insurance costs, meal plans, room type, number of patients
- Analysis and monitoring of revenue and cost drivers that affect the margins in different departments
- Creation of reports of consolidated physician´s revenue and expenses
- Automation of interdepartmental budget plans for a consolidated financial overview of the organization