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.

SNF Operators – How to Manage HPPD

SNF Operators – How to Manage HPPD

SNF Operators can manage their HPPD by using a tool that integrates the company time clock with its EHR and book of record – Dream CORE Dashboards.

Prone 2 Dream’s innovative technology assembles the critical data you need to manage HPPD to meet both regulatory and financial obligations.

With Role-Based Security, all sensitive employee information remains restricted. It is impossible for users to see data outside their role.

Your nursing schedule is a labyrinth. The Director of Nursing needs to balance patient needs with compliance issues and staff scheduling. Often this results in paying Premium Overtime – the dollars in excess of payroll budgets. Yet, nursing schedulers can make better decisions by having historical data and predictive analytics.

With Dream CORE‘s user-friendly dashboards, SNF Operators have a clear view of HPPD, a rolling punch analysis, and a drill down to individuals on the time clock.

Integrating these data sets also enables a SNF Operator to manage their CMS staffing rating. A simple formula projects the next quarter’s rating, and a desired rating is achievable by managing the HPPD.

Overtime is the “O” in CORE – one of the controllables within a SNF’s financial management [Census, Overtime, Receivable, Expenses]. See the benefits and features in the infographic below.

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

 

SNF Manage HPPD
SNF Operators – Effective Admissions for Better Client Experiences

SNF Operators – Effective Admissions for Better Client Experiences

Skilled Nursing Facility operators – Does your current Admissions process provide a comfortable transition for the new patient arrival?

Are you capturing the required verifications and authorizations?

Is ICD-10 coding a breeze for your MDS nurse?

Do you know the theoretical reimbursement benchmark? Do you know if you’re getting paid what you’ve earned or do you suspect you’re leaving money on the table?

Prone 2 Dream Technologies processes Admissions through 2 user-friendly apps. The Admissions app speeds the process of approving a new referral and communicating the start of the new patient’s journey to your team. The PDPM app calculates the theoretical reimbursement, and memorializes the patient’s journey in your center.

Check out the process in this easy infographic. Then contact us to see these steps in action.

 

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.

 

 

 

 

 

 

Revenue and Roadblocks: Right Now on the Right Route

Revenue and Roadblocks: Right Now on the Right Route

You use many software platforms to run your business, and each offers a dynamic set of metrics.

 

What if you had a way to see how those metrics affect each other? A way to align them – showing the best route to your destination (profitability) and alert you to roadblocks in your path?

 

In our last article, Business Detours? Not A Problem When You Set Your GPS, we described how business intelligence and predictive analytics form a GPS to help frontline managers navigate the financial side of your company.

 

Enter a GPS solution called DreamCORE Dashboards – CORE is an acronym for the controllable parts of your business: Census* | Overtime | Receivables | Expenses.

*This model was built for the skilled nursing industry but is applicable anywhere –C is your Customers or Clients, your revenue source.

 

Let’s take a closer look at Census, and how you can use this fluctuating element to improve both customer satisfaction and your profitability.

 

Census – The Lives We Care For

 

Census is the lives we care for within our skilled nursing facilities. Our clinical teams treat and care for the individuals entrusted to us, ensuring the right solutions to help heal in the best way, in the best atmosphere.

 

Financially, census drives the revenue. We need to capitalize on every dollar of revenue to support the mission of care – nursing supplies, dietary sustenance, entertainment, housekeeping, administration.

 

The industry has worked out multiple algorithms to ensure the best journey of the revenue dollar to the table– through a labyrinth of documentation, carve outs, comorbidities coding, and specifications that vary widely by payers.

 

What success have we had managing “the dollars on the table”?

 

 

Managing Expenses against Fluctuating Revenue

 

Staying true to the GPS theme, finance develops a roadmap yearly, the “budget”. It is well thought out, achievable, and precise. The day after it is published, the path to success begins to deteriorate. Road conditions are constantly changing (lower than expected census), unexpected detours (transmission on your van konks out), inevitably you must stop, take time to get a true sense of where you are on the map, and recalculate your path to the destination.

 

DreamCORE is constantly recalculating to support your goals – by providing you the pinpoint on the map of where you are at any given time, and where you need to go to stay on course to your destination.

 

For example, your dietary manager was budgeted $35,263 for Raw Food for May–pinned to his corkboard–this budget was calculated last October and was based on a census budget of $8.26 PPD. The actual census for May is averaging $9.75 PPD. If the dietary manager spends the original budget of $35,263, DreamCORE gives clear sight to the overspend of $7,778. The thermometer shows current spend against scaled budget – making it much easier to adjust spending to meet current census level.

 

 

A significant ROI of DreamCORE is based in the automatic adjustment of the budgets.

 

In the example above, the dietary manager’s expense dashboard would show the budget for his department is $26.747.  And daily the “Expected Budget” would be adjusted by the Average Daily Census in the background.  Additionally, with each invoice entered into DreamCORE, the budget balance would be reduced, like a checkbook, keeping the whole department informed of their current balance, helping them not to “overdraw” the account.

 

So being able to see the financial picture at a quick glance enables small changes, which over time make a big impact.

 

This automation keeps the patient at the center – each operational department is rotating around the patient, spending what is necessary to create the healing experience. Your teams are working with their patients, not sitting at desks looking at numbers. They’re solving people problems to create the best customer experience.

 

On the Journey to success

 

Consider you’re on the road to your destination and your GPS tells you there’s an accident ahead, you should exit now to the alternate route. You choose to disregard GPS and within a few minutes you’re at a dead standstill. Half an hour later, you pass the accident, but you’ve lost 30 minutes. Even speeding at this point won’t get you to the destination on time. A small change to the alternate route may have made the difference.

 

DreamCORE provides clear analytics to help you and your teams pinpoint their exact location, adjust for what is ahead, and equipping you to stay on course to the destination.

 

Getting your people to love their numbers

Road to Success

What if each of your department leaders were taught how to use a financial GPS to make the right decisions for their department?

 

Look at the flip side: “You don’t know what you don’t know”–When they don’t understand where they are or where to go, they’re on a path to fail. Nobody hires on to fail! They want to do well – to succeed at their jobs means they meet expectations.

 

DreamCORE encourages camaraderie – when all the departments are working harmoniously, they start to see how they can help each other toward the greater good. One department has an unexpected capital expense, the rest can tighten their belts a bit to balance that out.

 

As an operator, you want to be competitive. You want to hire the best person to run each of your departments. So you hire a great culinary talent to run dietary, but he’s probably not an MBA. He can easily be taught to read DreamCORE, understand the expectation, and DreamCORE can free his time to be where he needs to be – providing a great customer experience.

 

Your department leaders know their priority is the best customer experience. When they know where they are financially, they make the best decisions. They’ll make the best decision for the company every time because they want to feel good about their work. They want to succeed. And you know that successful teams reduce turnover and build great culture.

 

Teaching them how to read a quick DreamCORE view of their department can set them up to succeed, which leads to managing the dollars already on the table.

 

Give them a clear solution to feed that success. 

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

 

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