Financial modeling: creating a plan for the future.

Abstract

In response to decreasing utilization and increasing competition, hospitals are looking for new business opportunities to strengthen their present financial position. But they need a method to evaluate potential new ventures. Using a financial forecasting model, Metropolitan Medical Center was able to effectively evaluate new business opportunities. And by incorporating assumptions specific to an institution into the model, any institution can use this model as a guide for developing an analytical tool for making future business decisions.