Examining the financial status of cancer programs to yield increased profitability and guide potential investments
In the midst of ongoing changes in oncology and the accompanying risks, your top priority continues to be delivering quality care. To succeed, your clinical and administrative practices need to be seamless, up-to-date, efficient and financially sound.
Also critical is getting the most out of your investment of time and capital. With decades of expertise in all aspects of oncology, the team at The Oncology Group can help you analyze your current practices to identify which are most productive and can examine the feasibility of new ventures you’re considering.
In conducting cancer program financial analysis reporting and strategy, our consultants can maximize your revenue by identifying services with the best margins and prioritizing future investments. We are able to:
- Illustrate your financials in detail by service line/treatment type and payor mix
- Improve service lines expansion via forecasting that predicts their profitability
- Provide a financial dashboard or quick summary of your data
- Access options for hospitals acquiring practices or private practices looking to develop a relationship with a hospital
- Maximize your revenue by identifying services with the best margins and prioritizing future investments
Cancer program financial planning and analysis services include:
Executive Financial Reporting. Use dashboards, executive financial reports, graphs and key performance indicators (KPI) to communicate the true financial position, profitability and contribution margin of your cancer service lines. Click here to view a sample of our reports.
Tumor Type Profitability Analysis. Determine your profitability of delivering treatment of various cancer types, such as lung, breast and colon. Click here to view a sample report.
Oncology Practice Integration Analysis. Are you considering the feasibility of a physician integration strategy? What are the financial implications of changing from a freestanding cancer center (MPFS) to hospital-based facility (HOPPS)? An analysis of an integration’s financial impact is your first step in determining the best options for greatest profitability.
Service Line, Payor and Patient Profitability Analysis. Do you know the true status of your entire cancer program profitability? Which service lines (programs or modalities) are the most productive? We’ll analyze the mix and profitability of each of your payors and modalities and guide a customized plan for improvement.
Return on Investment Analysis. Before making any investment, determine the potential financial return on new or expanded service lines, expanding or opening a new cancer center, and purchasing new equipment or technology systems.
Key Performance Metrics, Cancer Metrics and Industry Benchmarking. Compare your hospital or center to industry financial standards and performance metrics. Identify key areas of strength and weakness as compared to the overall industry, similar hospitals or clinics and competitors in your marketplace.