Question

How does the financial statement play a part in payers mix?

Answer 1

Basically, payer mix is not at all easy because it's not only about taking care of the profitable contracts. Its like to choose between all the quarters (profitability). You have to know about the payer mix to get an understanding about what percentage of you revenue comes from self-payers, government and private insurance, with payer mix you will have all the data for correct cash forecasting.

We can get deeper understandings of payer mix with dynamic analysis and anomaly detection.

Dynamic Analysis: Mostly payer mix is being calculated only once a year when they have to make financial reserve models and set budgets. But in payer mix, industry experiences slightly seasonal shift in payer mix.With the help of dynamic Analysis we can understand the financial seasons shifting and then we can adjust the cash forecasting accordingly.

Anomaly Detection: With the help of this we can identify when and where the peaks and troughs of the reinbursement rates are happening. In this way we can take care of it .