Four methodologies to improve healthcare demand forecasting.
Forecasting demand for health services is an important step in managerial decision making for all healthcare organizations. This task, which often is assumed by financial managers, first requires the compilation and examination of historical information. Although many quantitative forecasting methods exist, four common methods of forecasting are percent adjustment, 12-month moving average, trendline, and seasonalized forecast. These four methods are all based upon the organization's recent historical demand. Healthcare financial managers who want to project demand for healthcare services in their facility should understand the advantages and disadvantages of each method and then select the method that will best meet the organization's needs.
Côté
M J
MJ
Department of Health Services Administration, University of Florida, Gainesville, Florida, USA. mjcote@hp.ufl.edu
Tucker
S L
SL
D003659:Decision Making, Organizational; D005069:Evaluation Studies as Topic; D005377:Financial Management, Hospital / Q000379:methods*; D005544:Forecasting / Q000379:methods*; D006301:Health Services Needs and Demand / Q000639:trends*; D006801:Humans; D020380:Needs Assessment; D014481:United States