calc_rev {healthfinance}

Calculate 3-year Revenue for Healthcare Practice

Description

Allows calculation of projected revenue for upcoming 36 months along with target revenue for corresponding months.

Usage

calc_rev(
  procedures,
  growth = rep(0, 3),
  comp_ratio = rep(1, 4),
  ins_prop = rep(0.25, 4),
  tech_fee_mult = 10,
  month_prop = rep(1/12, 12),
  restoration = rep(1, 36),
  boost_amt = numeric(0),
  boost_proc = list(),
  boost_start = integer(0),
  boost_end = integer(0)
)

Arguments

procedures

df or tibble containing 3 columns (name, annual volume, annual revenue)

growth

numeric vector of length 3; c(1, 10, 100) would represent expected growth of 1 percent in year 1, 10 percent in year 2 (compared to year 1), and 100 percent in year 3 (compared to year 2)

comp_ratio

numeric vector of length 4 containing compensation ratio (on average) of following insurances relative to Medicare: Medicare (should be 1), Medicaid, Commercial (private), and Other (self-pay, bad debt)

ins_prop

numeric vector of length 4 containing proportion of patients with following types of insurance: Medicare, Medicaid, Commercial (private), and Other (self-pay, bad debt); sum of this vector should equal unity

tech_fee_mult

technical fee as a multiple of procedural fee

month_prop

proportion of revenue expected in each of 12 months of the year

restoration

proportion of expected revenue expected in each of 36 upcoming months due to acute economic event being modeled

boost_amt

boost amount for up to 8 procedure sets

boost_proc

list of boost procedures for each of 8 boosts above

boost_start

start month (between 1 and 36, inclusive) for each of 8 boosts above

boost_end

end month (between 1 and 36, inclusive) for each of 8 boosts above

Value

list with 2 numeric vectors of length 36 each

Examples

# sample dataset of procedures
eg_procs <- data.frame(Name = c("Sample 1", "Sample 2", "Sample 3"),
                       Revenue = c(100000, 200000, 150000),
                       Volume = 1000, 25, 750)

# calculate revenue projections for next 36 months with default parameters
proj <- calc_rev(eg_procs)

# print 36-month target revenues
print(proj$Target)

# print 36-month projected revenues
print(proj$Projected)