What’s new

Welcome to Version 2022.2 of Axiom Rolling Forecasting!

Enhancements in this release include the following:

Executive summary reports

Four new executive summary reports help you evaluate, understand, and improve your forecast results for your entire organization or specific departments:

• Labor Summary report provides insight to trends in labor data

  Use the Labor Summary report to review your data while preparing your forecast. This report provides a detailed trend review of labor components, including Salary Expense, Hours, FTEs, and Average Hourly Rate.

• Code Trend Summary report provides insight to trends in RFCode data

  Use the Code Trend Summary report to review any cross-section of RFCodes. The report displays past, current, and forecast data for any combination of individual or summarized RFCodes and RFGroups, and enables you to review code trends.

• Actual Compared to Prior Forecast report helps you gauge forecast performance

  Use the Actual Compared to Prior Forecast report to improve the accuracy, value, and integrity of your forecast process by assessing how well your forecasts have held up over time, and how close those forecasts came to what was actually posted.

• Consolidated Income Statement and Key Metrics report helps verify statistics

  Use the Consolidated Income Statement and Key Metrics report before finalizing a forecast to spot and correct areas that need to be updated. Review individual or combined RFGroup income statements with key metrics that are calculated using a selectable key driver or statistic in the report.

Balance Sheet and Cash Flow utility

• Redesigned Balance Sheet and Cash Flow calculator improves usability

  Easily model your balance sheets as part of creating and managing forecasts. The redesigned calculator’s linear flow of data includes statistics, ratios, and cash flow. The data is presented in an easy-to-understand format, and the calculator automatically updates data in response to plan file changes.

• Initiate File Group Trigger – Controls whether changes in plan files trigger the Balance Sheet and Cash Flow calculator to update data automatically. For details, see Balance Sheet and Cash Flow – Initiate File Group Trigger in Configure Planning.

• Include Income in Balance Sheet – Moved this setting from the Refresh Variables dialog to the Planning Configuration utility’s Reports section. For details, see Balance Sheet and Cash Flow –Include Income in Balance Sheet in Configure Planning.

Plan files

• Insert or change calculation methods – Removed the ability to insert or change calculation methods using the right-click menu in the worksheets or the Additions menu on the Main ribbon tab. To insert calculation methods, see Insert a calc method in the Forecast worksheet. To change calculation methods, see Change a plan file calc method.

• Forecast History – You can now select the prior period as the historical comparison time frame in the Forecast History worksheet. A new toggle in the Planning Configuration utility enables you to select either Current or Prior period data. For more information, see Forecast History Comparison Period in Configure Planning.

• Include non-key statistics in your forecasts

  Use the new Non Key Statistics section to include non-key statistics in your forecasts. When you pair a non-key statistic with a per unit calculation (calc) method, you can calculate more precise revenue and expenses per unit amounts in your forecasts.

• New payor-linked calculation methods improve forecast accuracy

  Improve the accuracy of your forecasts by linking specific payors to specific patient revenue and deductions so that changes to one payor’s volume does not affect other payors’ volumes. Previously, volume changes in the forecast affected all payors because the volume calculation (calc) methods were used at the All Payors level. Using the new volume calc methods, you can now link specific payors to specific revenue and deduction volume calculations.

• Initiative Status Update utility improves the accuracy of historical reports

  Use the Initiative Status Update utility to assign approval status to initiatives for specific RF Periods so that initiative data is represented accurately in reports. Previously, initiative data that was approved in any historical periods was excluded from reports when the initiative’s status was later set to Exclude.

Miscellaneous Updates

• Scenario Manager – Removed the ability to access the Drivers utility from within the Scenario Manager because it interfered with processing. After creating a scenario, or to edit a scenario’s driver settings, you must navigate manually to the Driver utility to configure the settings. For more information, see Configure scenario driver settings.

• Summarize data by RFGroup

  If you use summarize data utilities to import your General Ledger (GL) data to Axiom Rolling Forecasting, you can now filter by RFGroup using two new summarization utilities:

  • The first utility summarizes actuals by RFGroup.

  • The second utility summarizes Budget data by RFGroup.

  If you make changes to an RFGRoup and need to reimport data, you can import just the affected groups instead of all of your files.