Helping financial analysts communicate variance analysis.
Healthcare organizations often use variance analysis to explain variation between planned and actual costs and charges. This type of analysis is becoming even more common as healthcare executives work to improve efficiency, to set priorities for organizational improvement as part of strategic planning, and to explain costs and charges to interested groups such as purchasers and payers. Variance analysis produces data that must be presented in a format useful to senior executives. An effective format would express the data in a visual summary that is simple enough to be readily understood and detailed enough to provide valuable information.
Dove
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School of Medicine, Yale University, New Haven, CT, USA.
Forthman
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D000704:Analysis of Variance; D003627:Data Interpretation, Statistical; D005377:Financial Management, Hospital / Q000706:statistics & numerical data*; D017722:Hospital Charges / Q000706:statistics & numerical data*; D017721:Hospital Costs / Q000706:statistics & numerical data*; D014481:United States