Financial Projection and Forecasting for Hospitals and Medical Institutions
Download Financial forecast model excel format for Hospitals and Medical Centers. This template is useful for hospital, medical and Medicare businesses.
Download This Template in Excel for Financial Projection
Financial Forecast Template help you organize your cashflow and derive growth of your business in an organized manner. Business strategies and decision making becomes effective with a good financial and operational projections.
About Financial Forecast model excel format for hospitals
Once you download this template file, you will find various tabs / worksheet. Not all the worksheet might be applicable for your business. It depends on the size and stature of your medical institution and hospital. However, you can easily remove the sheets that are not relevant.
But, since the total named worksheet is linked with all the other working sheets, you will have to make changes if you remove any of the sheets.
You will find that there are tabs relevant for -
- Individual member
- Medical care with large members
- Medic Aid with Regions
- Federal Employee Health Benefit Plans (FEHBP)
Income and expenditures relevant to hospitals and health care sector has been covered to some extent. You can capture the details of members in each division. Projection in each division and growth in membership should be industry standard. Sometimes, we can also use the historical data to find the average growth trend.
Coming to the revenue side, You can capture premium details, fees collections for various services in your organization, Medic Aid, Medicare and FEHBP revenue can also be updated easily in their respective worksheets.
Bed management and revenue thereof, can be captured in the administration revenue section for each department. Furthermore, You can include administration services only as well.
Talking about the expenditures in a hospital and medical institutions, the possible expenses might incur in the following areas, namely,
- Physician Services
- Other Professional Services
- Outside Referrals
- Emergency Room maintenance and Out of area expenses
- Occupancy, depreciation and Amortization
- Inpatient expenses
- Out patient expenses
- Pharmacy and medicine cost
- Incentive pool and withhold adjustments
- Reinsurance expenses (net of recoveries)
- Copayments etc.
This template tries to cover all the aforesaid aspects while creating a financial forecast of revenue and expenditure for a hospital or medical institution. Also, cashflow projections also comes with the template which the template computes automatically.
Download and Use Hospital financial forecast model excel template
To use this free Financial Forecast model for hospitals in excel, you should have Microsoft Office/ Microsoft Excel. You can only use this template if you have these applications in your system. or Use, Google Sheets.
After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software.
Once extracted, you can open the file using Excel and start entering data or customizing the template.
