Telemedicine continues to be one of the fastest-growing trends in the aftermath of the COVID-19 pandemic. The

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Question:

Telemedicine continues to be one of the fastest-growing trends in the aftermath of the COVID-19 pandemic. The pandemic has proved telemedicine to be extremely useful. Reaching its peak during the pandemic, it has stabilized at levels 38 times higher than pre-pandemic. After an initial spike to more than 32 percent of office and outpatient visits occurring via telehealth in April 2020, the levels of telehealth usage have largely stabilized, ranging from 13 to 17 percent across all specialties.

One has to make the following assumptions regarding the operations and gain market share for an organization:

Net revenue for the organization will increase by 1% due to a slight increase in the number of patients seen and/or an increase in the prices charged for services.
Supply inflation will be 2% and this will be covered by a 3% increase in reimbursement rates from managed care payors.
Personnel cost increases for salaries and wages will be 4% due to increased competition for labor resources.
The goal is to increase market share by 5% over the next 5 years.
Capital requests will include spending for routine replacement and spending for key projects, which are expected to improve operations and increase market share.

Assignment 4

Write out a basic 5 Year Operating Budget for Telepsychiatry using the following telehealth finance variables: Fee-for-service (FFS) payments, Per member per month or per patient per month, Facility fees, Capacity and resource utilization.