calc_rev: Calculate 3-year Revenue for Healthcare Practice In healthfinance: Financial Projections and Planning for Health Care Practices

Description

Allows calculation of projected revenue for upcoming 36 months along with target revenue for corresponding months.

Usage

 ``` 1 2 3 4 5 6 7 8 9 10 11 12 13``` ```calc_rev( procedures, growth = rep(0, 3), comp_ratio = rep(1, 4), ins_prop = rep(0.25, 4), tech_fee_mult = 10, month_prop = rep(1/12, 12), restoration = rep(1, 36), boost_amt = numeric(0), boost_proc = list(), boost_start = integer(0), boost_end = integer(0) ) ```

Arguments

 `procedures` df or tibble containing 3 columns (name, annual volume, annual revenue) `growth` numeric vector of length 3; c(1, 10, 100) would represent expected growth of 1 percent in year 1, 10 percent in year 2 (compared to year 1), and 100 percent in year 3 (compared to year 2) `comp_ratio` numeric vector of length 4 containing compensation ratio (on average) of following insurances relative to Medicare: Medicare (should be 1), Medicaid, Commercial (private), and Other (self-pay, bad debt) `ins_prop` numeric vector of length 4 containing proportion of patients with following types of insurance: Medicare, Medicaid, Commercial (private), and Other (self-pay, bad debt); sum of this vector should equal unity `tech_fee_mult` technical fee as a multiple of procedural fee `month_prop` proportion of revenue expected in each of 12 months of the year `restoration` proportion of expected revenue expected in each of 36 upcoming months due to acute economic event being modeled `boost_amt` boost amount for up to 8 procedure sets `boost_proc` list of boost procedures for each of 8 boosts above `boost_start` start month (between 1 and 36, inclusive) for each of 8 boosts above `boost_end` end month (between 1 and 36, inclusive) for each of 8 boosts above

Value

list with 2 numeric vectors of length 36 each

Examples

 ``` 1 2 3 4 5 6 7 8 9 10 11 12 13``` ```# sample dataset of procedures eg_procs <- data.frame(Name = c("Sample 1", "Sample 2", "Sample 3"), Revenue = c(100000, 200000, 150000), Volume = 1000, 25, 750) # calculate revenue projections for next 36 months with default parameters proj <- calc_rev(eg_procs) # print 36-month target revenues print(proj\$Target) # print 36-month projected revenues print(proj\$Projected) ```

healthfinance documentation built on Oct. 24, 2020, 9:09 a.m.