Budget model can aid group practice planning.
A medical practice can enhance its planning by developing a budgetary model to test effects of planning assumptions on its profitability and cash requirements. A model focusing on patient visits, payment mix, patient mix, and fee and payment schedules can help assess effects of proposed decisions. A planning model is not a substitute for planning but should complement a plan that includes mission, goals, values, strategic issues, and different outcomes.
Widener University, Chester, PA.
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D002017:Budgets / Q000592:standards*; D005376:Financial Management; D006123:Group Practice / Q000191:economics*; D017059:Models, Econometric; D010934:Planning Techniques; D011216:Practice Management, Medical / Q000191:economics*; D012984:Software; D014481:United States