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Polaris Strategic’s Budget Survival Guide

Polaris customers can utilize our complete set of tools for surviving the budget process. Polaris not only gives you a clear understanding of what drives your organization but also how and why. Here’s a list of key features:

Performance Evaluation

Show what drives the organization from the macro to the micro levels

  • Performance compared to the previous budget (by week, month, quarter and year)
  • Performance to date (month, quarter, year)
  • Performance compared to benchmarks
  • Performance with multiple measures (cost, cost/unit, procedures, RVUs, revenue, revenue/unit, FTEs, etc.)

Productivity Reporting

Gain a better understanding of how volumes drive both revenue and cost

  • Nursing demand by acuity levels vs. actual staffing levels
  • Utilization patterns such as OR block utilization and turnaround time reports.
  • Call center reporting
  • Next available appointment showing first and third available slots for more accurate analysis

Variance Analysis

Learn as much as you can about what drives your profitability

  • Drill down to individual cost centers, units, providers
  • Date ranges to examine seasonality and/or effect of significant events
  • Volume adjusted variance reporting

Quality and Regulatory Performance

Play an increasingly vital role in future economics

  • Core measures
  • Meaningful Use
  • Patient Satisfaction
  • Never Events
  • Polaris offers dashboards, control charts, trending graphs, etc.

Reporting Flexibility

See it the way you need to see it

Data integrated from multiple source systems to enable:

  • Historical reports
  • Productivity reports
  • Enterprise-wide reports

Custom reports with interactive views for:

  • Product & Service Line reporting
  • Patient level reporting
  • Procedure level reports
  • Multiple hierarchies (i.e. location, procedure, operating unit, physician)

Managing to Budget

Having a complete set of information that is specifically tailored to the way your health system is structured with a focus on your organization’s performance¬†will make a measurable difference during the budgeting process.

But it doesn’t stop there. Polaris automates your reports so they update on a regular basis (most often daily). That way everyone from the CEO to the line managers can see progress against the budget on a virtual basis. So if volumes, revenue or expenses are off projections, you’ll know immediately and will be able to pinpoint the problem in time to adjust.

To get started on the path to a better budgeting process, contact us to schedule a discussion of your needs and how Polaris can give you the tools and knowledge you desire. Contact us at 610-355-2480 or info@PolarisStrategic.com.

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