Financial modeling: creating a plan for the future.
In response to decreasing utilization and increasing competition, hospitals are looking for new business opportunities to strengthen their present financial position. But they need a method to evaluate potential new ventures. Using a financial forecasting model, Metropolitan Medical Center was able to effectively evaluate new business opportunities. And by incorporating assumptions specific to an institution into the model, any institution can use this model as a guide for developing an analytical tool for making future business decisions.
D000067:Accounts Payable and Receivable; D005376:Financial Management / Q000379:methods*; D005377:Financial Management, Hospital / Q000379:methods*; D005544:Forecasting; D006746:Hospital Bed Capacity, 500 and over; D006752:Hospital Planning / Q000379:methods*; D008910:Minnesota; D008962:Models, Theoretical; D011357:Product Line Management / Q000379:methods