The market for the multi-site healthcare industry is booming due to population growth, aging demographics, increasing healthcare needs and advancements in medical technology. There is continuing demand for convenient and accessible healthcare services provided by these organizations, which are often funded by private equity firms or joint ventures.
One of the biggest challenges facing multi-site healthcare organizations is scaling operations. They are often faced with a breakdown between operations and general and administrative (G&A) functions. This is particularly an issue with financial planning and analysis (FP&A), which includes budgeting, planning, forecasting and reporting.
Helping these multisite healthcare organizations with their FP&A processes and technologies is one of our specialties. Our team at Revelwood has worked with many of these organizations to transform their businesses. Here are just a few examples.
Dental
One of our clients is a dental organization with more than 240+ affiliated dental practices across 15 states. The organization provides centralized management and shared G&A services. We built a specialized, custom Workday Adaptive Planning-based FP&A solution that included:
- Creating a dentistry operations model with volume-based modeling between dentistry and hygiene practices
- Creating an orthodontics model with 24-month uneven revenue recognition including historical revenue and actuals
- Building models for patient and volume-based revenue and staffing logic
- Integrating Great Plains and PowerBI with Workday Adaptive Planning
Eye Care
Another Revelwood client is a leading provider of clinically integrated eye care, with a national network of over 700 optometrists, 300 ophthalmologists and a total workforce of 6,000 people. It has more than 700 affiliated practice locations with services that span the eye care continuum in 18 states and in 30 markets.
Revelwood built a customized, multisite healthcare budgeting and forecasting application for this organization. The solution included:
- Assessing the data sources and incorporating a new SAP chart of accounts (COA)
- Developing a plan to extract the data, re-map it and re-load it
- Building distinct models for its optometry and ophthalmology practices
- Creating models to enable budgeting and forecasting across locations, including number of patients, number of exams, number of operating days, historical price and rate inflation
Urgent Care
One of our clients is a recognized leader in health system urgent care joint-ventures. It is a physician-owned, physician-driven company committed to providing convenient access to quality, cost-effective healthcare services through a retail urgent care delivery model.
Revelwood built a Workday Adaptive Planning FP&A system for the organization. The solution incorporates:
- Corporate-level workforce planning for 250 full-time employees
- Revenue forecasting by clinic, including per visit using historical averages, factoring in seasonality and different reimbursement rates
- Comprehensive internal and external reporting, including reporting on budget versus actuals, department levels, income statements and more
- An integration with Intaact
Learn more about how we are helping multi-site healthcare organizations.