Senior Living Operators – Will You Meet Your Budget This Month?

Senior Living Operators – Will You Meet Your Budget This Month?

There’s a nagging question in the minds of senior living administrators and department managers everywhere: “Will I meet my budget this month?”

 

DreamCORE Dashboards and the Dream Expenses App are the practical solution to this notorious problem – How to manage expenses with a census that fluctuates daily and a labyrinth of operational issues.

 

Dream Expenses is a simple, mobile app that inputs each invoice directly into your general ledger – “one-touch invoicing”. Easily select the GL code, and easily split the invoice if necessary, even between departments.

 

This practical checkbooking system updates your DreamCORE Dashboards with every entry. You have near real time access to department budgets that are auto-adjusting by SpendDown and fluctuating census.

 

The result: DreamCORE Dashboards take the guesswork out of meeting the budget. Each department leader has a departmental dashboard and knows exactly how much is available to spend.

 

DreamCORE Dashboards solve the problem of managing expenses against a fluctuating census, saving time and enabling confident, evidence-based decisions.

 

Book a live demo – Grab a spot on our calendar here.

 

Contact us today to see how easily you can manage your expenses and make data-driven decisions, when all your critical data is in one place.

 

Infographic SNF Expenses

5 Tips for Agile Budget Planning

5 Tips for Agile Budget Planning

5 Tips for Agile Budget Planning

It’s budget planning season, the time of year organizations evaluate the past year and conceive a plan for successfully moving forward. It can be daunting, especially as a global pandemic continues. For skilled nursing and senior living operators, planning next year’s budget requires careful scrutiny, knowing that the effects of COVID-19 are still a threat, and wondering how to plan for the unknowns.

 

Many lessons have been learned over the past 18 months. Traditional “business-as-usual” budgeting strategies and processes need a new approach. Corporate financial leaders know that they need the ability to react and reforecast with speed and accuracy – on an ongoing basis. The agility to match resources with strategy over time can only be achieved with a system of green data. The knowledge of where your P&L stands at any moment in time is essential to making evidence-based decisions to keep the company on course.

 

The 12-Month Budget

 

Amid ongoing, unprecedented uncertainty, a detailed long term budget may seem like a futile exercise. Yet, the need for speed, visibility, and cost control remains. Budget planning becomes a balancing act of business strategy and resource allocation.

 

DreamCORE Dashboards are the tool to reimagine agile, strategic budgeting.

 

Delivered in dynamic financials, DreamCORE Dashboards provide green data, updated daily. This strategic, robust financial tracking system looks back historically to show not only where you’ve traveled but the road ahead of you as well. Your data, assembled chronologically, with the ability to scroll and drill down by department, eliminates the scrambling to find everything you need and the shuffling of multiple sources.

 

Ongoing Reforecasting

 

DreamCORE Dashboards offer predictive analytics with a “What If” feature. Want to determine your Housekeeping budget based on PPD? Simply plug in your desired PPD and DreamCORE will calculate the amount.

 

The pandemic showed us the financial impact of a wildly swinging census. DreamCORE Dashboards updates your census daily, and recalculates spend-down accordingly. Each of your front line managers who make spending decisions has daily access to their budget, adjusted by census. How much better could you control expenses when all front line teams are trained to contribute to the overall company financial strategy?

DreamCORE Dashboards budget planning

5 Tips for your 2022 Budget 

 

1.Assemble historical data for the past two years

If you’re already using DreamCORE Dashboards, this work is done and your 2022 budgeting is well underway. DreamCORE Dashboards integrate your EHR, Book of Record, and Payroll/TimeClock systems into a relevant order for evidence-based decision-making.

2. Evaluate strengths and weaknesses from this data

While this can be an arduous task, data speaks the truth. With DreamCORE Dashboards, red flag anomalies in your data alert you daily enabling the quick action to get back on course. Weaknesses can be easily reduced in real time.

3. Convene with company strategic leaders

Senior management and your finance team have valuable input. Weave the business plan into the budget, strategize and decide how to address the inevitable unknowns. Determine new KPIs and how to pivot when needed.

4. Engage your strongest front line leaders

Essentially these are your budget managers. A large proportion of the spending happens In the facilities. Your front line has insight to challenges you may not be prioritizing. Learn from them for more realistic budget planning.

5. Book a live demo of DreamCORE Dashboards

Our current clients are breathing a sigh of relief knowing they have an agile system for spending management and cost control. The “work” of creating a 12-month budget is largely complete – an easy review of historical data, a relevant view and breakdown of revenue, and daily drillable access to every dollar spent.

 

Budget planning for a new fiscal year enables a strategic plan for managing the revenue and expenses. The budget provides a plan for all teams in the organization to follow. Yet, the past 18 months have shown us that a static plan is useless. 

 

With access to accurate historical financials and predictive analytics, your budget takes on a dynamic reality. Ongoing forecasting, departmental budgets adjusting to census, year over year and month over month comparisons are the new approach to financial management.

 

DreamCORE Dashboards is the GPS to keep your business on course to success. Contact us today to get started – you’re just 3 logins away from powerful analytics. 

 

Role Based Access Control for Skilled Nursing Business Intelligence

Role Based Access Control for Skilled Nursing Business Intelligence

Data drives decisions, evidence-based decisions.

 

Yet, in the world of breathtakingly fast data analytics, how can you be certain that only the right people are seeing sensitive data? This is the purpose of Role-Based Control Access (RBAC) also known as Role-Based Security (RBS).

 

What is Role-Based Access Control (RBAC)?

 

Each person in an organization has a position or a role. RBAC sets a framework whereby each employee only has access to data that is pertinent to that role. If the individual has responsibility for budget decisions for a specific department, he/she has access to that data only and no access to other departments.

 

Prone 2 Dream Technologies deploys RBAC for its DreamCORE Dashboards. Skilled Nursing business intelligence is delivered in drillable dashboards with a focus on Census, Overtime, Receivables, and Expenses. These are the CORE of the business and where frontline department leaders are making decisions about how to spend the company’s revenue.

 

These leaders are expected to contribute to the overall profitability of the company. However, they typically have to wade through data overload by signing into multiple platforms or shuffling multiple spreadsheets to find what they need to make decisions.

 

DreamCORE Dashboards presents the plethora of skilled nursing data in a logical, relevant format, with infinite views. RBAC narrows the scope to each individual’s frame of reference – he or she only sees the data for areas where they can make an impact. They get the data they need… and ONLY the data they need.

 

Here’s the RBAC framework for DreamCORE Dashboards:

 

RBAC Framework

 

 

Examples of Role-Based Access Control

 

Culinary Manager – Sees payroll, overtime, and department budget adjusted daily per fluctuating census only for the facility’s culinary department

 

Director of Nursing – Sees payroll, overtime, and department budget adjusted daily per fluctuating census only for the facility’s nursing department. Plus, she sees a daily tracking of her CMS PBJ star rating – data only relevant to her role.

 

Facility Administrator – Sees all the data relevant to that specific property/location.

Regional Director – Sees all the data for the facilities he oversees.

 

Executive Team – All the data for all the facilities, as well as corporate financials, P&L, forecasts, Payroll Analysis, and more.

 

As a result, sensitive data remains secure, and each individual is aware that their focus is different from another within the company. Yet DreamCORE Dashboards provide one version of the truth, updated daily.

 

Two individuals in different roles, but who have access to the same dashboard page are both seeing the same data. For example, a regional director has a virtual meeting with a facility administrator. They are both seeing that facility’s “green data” – one version of the truth, updated daily.

 

Benefits of RBAC in DreamCORE Dashboards

 

  1. Protects sensitive payroll data. Most department leaders need to control schedules and overtime expense, yet need to keep wage rates secure. DreamCORE Dashboards provides that security while allowing leaders to make data-driven decisions.
  2. Protects patient data. DreamCORE Dashboards focus on the financial data of a patient’s stay and it’s only available to certain roles, as defined by executive leadership.
  3. Eliminates data overload at the front line. Narrowing the focus is the first step towards positive outcomes – DreamCORE Dashboards are a tool for front line success.
  4. Ease of change. Individuals’ roles change – whether they are adding responsibilities, moving to a different facility, or getting a promotion, changing access is as easy as contacting our support team.

Role-Based Security

Learn more about Prone 2 Dream’s Role-Based Security.

 

The Ease of Single Sign-on

 

Nobody needs yet another set of login credentials to gain access to their data. Prone 2 Dream is a Microsoft Partner, so with your current Microsoft account, your team simply logs in to their email account and access to their dashboards is a click away.

 

Our single sign-on feature mitigates the risk in accessing third-party sites, reduces time spent accessing multiple accounts, lowers the total cost of ownership of IT with fewer help desk / support ticket requests, and creates happy users.

 

Empower your front line leaders

 

Data drives decisions. If your facilities are wading in data overload or simply don’t have the time to shuffle through their various papers and platforms, book a demo of DreamCORE Dashboards today.

 

We understand that data can be intimidating, especially to department managers who were hired for their acumen in distinctly different areas. We take pride in providing onboarding and training for your teams and helping them learn to love their numbers.

 

SNF Operators – Are your financial projections data-driven?

SNF Operators – Are your financial projections data-driven?

What if you had a tool to capture Midnight Census and make daily PPD calculations for you?

We have that tool – DreamCORE Dashboards. DreamCORE provides unobstructed visibility into KPIs, helping SNF leaders quickly identify obstacles on the road to profitability.

DreamCORE gives insight into Payer Mix, projects revenue, adjusts budgeted expenses for SpendDown, and calculates current HPPD.

If this sounds like it would save you lots of time, you’re right.

Check out the benefits of the Census feature in DreamCORE Dashboards in the infographic below.

Book a live demo – Grab a spot on our calendar here.

Overtime Happens! But Overtime is Avoidable

Overtime Happens! But Overtime is Avoidable

Overtime Happens! But when you have a clear picture of your payroll in progress at any time during the pay period, you are much better equipped to avoid spending those premium dollars.

 

What if you had a list available every day to see if you are pacing towards overtime? Would you make some changes in your scheduling? Perhaps redirect some hours to another employee who is light this week?

 

This may sound obvious, but overtime often happens because you simply don’t know how the payroll hours are trending. CORE, a financial GPS solution, provides the daily view into how the company’s money is being spent, historically and prospectively.

 

Each department in your facility has a budget, which guides their spending. If a department head goes over budget spending on supplies, they haven’t met expectations of the company. Sometimes it can’t be avoided, but often it’s a matter of not having updated intel. If payroll goes over budget, this is a more significant issue – overtime is paid with the premium dollar – time and a half (in most states). The premium dollar equals the ½ time you paid to cover the gap.

 

No one schedules over time, but as conditions change in your operations, gaps often occur in coverage. CORE gives you the tool to find the right RN, who is not on pace to be paid time and a half. The department manager can make a conscious and objective choice. CORE splits out by pay code and the individual’s payroll number. You can see exactly where you’re spending the premium dollar.

overtime dashboard

 

 

Many companies have a “zero overtime” policy for this reason. That premium dollar is cash leaked directly from the company’s bottom line. Any time you’re paying over what you projected to pay, you are spending margin dollars. With the imminent minimum wage increase quickly approaching, it makes sense to address your processes now.

 

CMS requires a certain amount of RN hours based on census. Since census is always fluctuating, CORE enables you to see these changes, integrated with your payroll and time clock. Alter the schedule accordingly to make a big difference in payroll spending. Having these programs integrated gives you the ability to improve your CMS star rating, while negotiating census appropriate coverage.

 

Say your facility is currently at a two-star rating for RN staffing. CORE is calculating hours per patient day (HPPD) daily so that you can see if you have enough staff scheduled to make it a three-star. Dream of managing those premium dollars back into your schedule to increase the star rating. You have the ability, with CORE, to forecast your PBJ status daily.

overtime premium dollar

 

 

PBJ reporting remains a mystery to many excellent skilled nursing operators. The integration of census software with payroll and scheduling is the key to understanding historically, and then forecasting for improvement.

 

Click here to learn more about Decreasing Premium Overtime Dollars in our upcoming free webinar.

 

Where does agency staffing fit into CMS star ratings, PBJ reporting, and budget overspending? When HPPD are needed, external sources can be tapped to achieve the regulatory level. CORE integrates your agency database with your time clock system for accuracy, making PBJ reporting a much simpler process. Agency staffing helps avoid spending premium dollars on payroll.

 

The time clock is never infallible. With the level of detail CORE provides, you can spot time clock errors and correct anomalies long before they wreak havoc with your payroll administrators. Simply make the adjustment and CORE recalculates at the next scheduled update, adjusting the hours, the PPDs, and the PBJ projection.

 

At the end of the day, we know Overtime Happens. But overtime benefits no one. Not your company, because it’s too expensive. Not your team, because even if they want the boost to their paycheck, a 40+ hour work week is the road to burnout. Not your customer, as an overworked staff never delivers a five-star experience.

 

Overtime is avoidable. Contact us today to learn more about reeling in your premium dollars.

 

 

 

 

 

 

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