.:Multi-View Incorporated Benchmarking:.

About The System
Multi-View Incorporated Benchmarking is proud to introduce an exciting new system that will make it possible for any hospice to have meaningful financial management data and automated financial benchmarking. The Financial Management & Benchmarking System is a reporting system that not only provides a powerful set of reports for financial management, but also the ability for a hospice to compare its performance with other hospices based on user-defined criteria in seconds. And it’s automated! This system does not require the manual and time-consuming completion of forms or the need for data input. You simply process your normal accounting transactions and the system does the rest with absolute minimum effort. Here’s how it works:

The Financial Management Application is installed on your hospice network. Training on how to configure and use the system is provided along with unlimited technical support. Data is extracted from your accounting system thus eliminating manual entry or the completion of forms. Regardless of the brand of the accounting system or its configuration, the Financial Management Application extracts and groups your data into standardized and meaningful reports based on time-proven management best practices. At present, over 438 data points are captured.
By simply clicking on a button, the information is automatically transmitted and evaluated by the Data Validation Application. Within 48 hours, the acceptable data is posted to the Master Data Set and the hospice is notified via an email message.
The data that is acceptable is then posted to the Master Data Set and is available to be queried with the Financial Benchmarking & Dashboard Application whereby a hospice can input the criteria it wants to compare its performance against, press a button, and the data is pulled from the Master Data Set. A hospice can perform an unlimited number of queries and each query is kept intact for further analysis if desired. A hospice can specify the state, region, service area type, ADC size, composition, or other comparison criteria. During the first 6 months, some criteria options will be limited to allow time for the Master Data Set to be adequately populated. The Master Data Set can also be queried by members of state or other associations via special association codes that limit viewing to all except its members.

Safeguards and security measures have been implemented that ensure the confidentiality of data and block the ability to identify individual hospice providers.

This system helps ensure that hospices have the tools to be financially viable in order to have adequate resources to provide exceptional care. It builds an accurate and true national financial data base to help set public policy rather than reliance upon Medicare cost reports which do not paint a representative picture of what really happens in a hospice operationally. It also, provides the almost instantaneous financial benchmarking data that hospices want and need.

The system was developed and will be serviced by Multi-View Incorporated Benchmarking. MVI has an incredible customer service track record over the last 9 years and serves hundreds of hospices already, providing hospice-specific financial systems fused with the best practices. MVI believes that past performance is indicative of future results and is confident that this project will be a complete success.

The system is rich in value. Features include:

Executive Dashboard Reporting - For quick graphical and numeric monitoring of critical performance measures including Growth in ADC, Costs, Clinical Productivity, Visits in Relation to Census, Visit-Hours in Relation to Census, Nursing Home Mix, Benefits %, Debt t to Equity Ratio, Development Return Ratio, etc.
Hospice Homecare, IP Units, and Palliative Care are Tracked in Detail – Each of the most common programs of hospice organizations are segregated from other programs to provide pure and comparable data.
Patient-Day and Percentage of Net Patient Revenue Reports – These are the most common methods of hospice financial measurement. They are excellent for some management decisions, but can be misleading if not viewed with other cost views.
Analysis of Indirect Costs – 50 areas of Indirect Costs are tracked and are grouped into 3 categories; Indirect Labor, Operational Costs, and Facility-Related. Each of the 50 Indirect areas are also tracked individually.
Cost Engineering Tools – These tools allow a hospice to construct target costs for each component of care based on internally developed standards.
Flex Budget Report – A budget automatically adjusted for fluctuations in patient volume is created through the use of standard costs.
Breakeven Analysis – Breakeven computations are automatically produced.
Cost per Visit and Cost per Visit-Hour by Discipline – These cost views provide greater insight into operations and make available the information required by many of the patient-management systems to produce accurate cost views by diagnosis, payer, age, sex, referral source, etc.
Board Financial Statements – A Balance Sheet and Income Statement are automatically produced in a format that has proved to be very effective for informed decision making by Boards of Directors.
A Medicare Cost Report Import Option–95% of the data required for preparation of a hospice’s Medicare Cost Report is automatically produced in an importable file when using the system thus saving tremendous time and effort. This is an optional feature.

Education is a major part of this initiative as a hospice will suddenly have more data than ever before. A monthly BenchPress newsletter will be emailed to up to 5 people in your organization and quarterly audio or audio/visual educational products including conversations with benchmark setters and current best practices will be mailed. The system comes with manuals, laminated guide sheets, and other educational products to help hospices use the system and interpret the data. Web-based advice is also available by simply clicking on the subject matter desired.

MVI wants to make the Financial Management & Benchmarking System affordable for all interested hospices. The system and unlimited support are available on a subscription basis of $225 a month or $325 a month if the Medicare Cost Report Option is selected. To put this in perspective, for the price of getting your Medicare Cost Report professionally prepared, a hospice would get a complete financial reporting system, benchmarking information within seconds, financial educational products, and many other benefits. The value is immense. To get more information or to sign up, call MVI at 828-698-5885 or email us at info@mvib.net. The system is installed on a first come, first serve basis.

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