Funds flow system for academic health centers

• US 7,003,470 B1
• Filed: 10/30/2000
• Issued: 02/21/2006
• Est. Priority Date: 10/29/1999
• Status: Expired due to Term

• Current Assignee: Vizient, Inc.
• Original Assignee: University Health System Incorporated
• Inventors: Geheb, Michael A., Baker, Robert J., Burnett, David A.
• Primary Examiner(s): ELISCA, PIERRE E
• Application Number:
  US09/857,275
• Time in Patent Office: 1,940 Days
• Field of Search: 705/1, 705/2, 705/3
• US Class Current: 705/2
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 50/20 Education
• CPC Class Codes: G16H 40/20 for the management or administration of healthcare resources or facilities, e.g. managing hospital staff or surgery rooms

Abstract

A system and method for tracking and reporting the flow of funds between participants in an academic health center including a school of medicine, a hospital and a faculty clinical practice. The participants identify transactions between the participants and other entities. The participants then list all of the sources of funds and uses of funds for each department within an participant. The lists are analyzed to generate departmental sources of funds and uses of funds statements. The flow of funds include normalized hidden sources of funds, such as unreimbursed expenses. The lists are used to generate standardized and customized departmental statements. Using the standardized departmental statements and participant statements, departmental and participant ratios cab be generated. The ratios allow the participants to compare the participant'"'"'s departments with each other as well as with other participant'"'"'s departments and with other academic health centers.

Claims

1. An automated method of tracking the flow of funds in an academic health center including a school of medicine, a hospital and a clinical practice plan as participants, including the steps of:

gathering data from each of the participants and other entities; and

loading the data into processor, the processor carrying out the functions of;

identifying, using the loaded data, all transactions across the participants and other entities;

identifying, using the loaded data, all sources of funds provided for each department of a participant;

identifying, using the loaded data, all uses of funds for each department of the participant;

analyzing the funds flow among the participants; and

generating a source of funds statement and uses of funds statement for each participant using the identified sources of funds and uses of funds, wherein

the source of funds includes cash received and values received that are not cash, and

the uses of funds include cash paid and values provided that are not cash values.

2. The method of claim 1, wherein the funds flow further comprise support funds, payment for services and unreimbursed expenses.

3. The method of claim 1, further comprising generating a departmental statement for each department of a participant based on the source of funds statement and uses of funds statement for each department.

4. The method of claim 3, further comprising generating ratios using the departmental statements.

6. The method of claim 4, further comprising generating a report for each participant comprising the departmental ratios.

7. The method of claim 4, further comprising including the step of comparing corresponding ratios for departments within a participant.

8. The method of claim 4, wherein the method further comprises a plurality of academic health centers and further comprising comparing the ratios for similar departments among a plurality of similarly situated participants.

9. The method of claim 1, wherein the step of identifying all transactions across the participants and other entities, further comprises quantifying the funds flows among the participants and other entities.

10. The method of claim 9, wherein the step of quantifying the funds flows among participants, further comprises identifying support and quantifying expected return for the support.

5. A method of tracking the flow of funds in an academic health center including a school of medicine, a hospital and a clinical practice plan as participants, comprising the steps of:

gathering data from each of the participants and other entities; and

loading the data into processor, the processor carrying out the functions of;

identifying, using the loaded data, all transactions across the participants and other entities;

identifying, using the loaded data, all sources of funds provided for each department of a participant;

identifying, using the loaded data, all uses of funds for said each department of the participant;

analyzing the funds flow among the participants;

generating a source of funds statement and uses of funds statement for each participant using the identified sources of funds and uses of funds;

generating a departmental statement for each department of a participant based on the source of funds statement and uses of funds statement for each department; and

generating ratios using the departmental statements outputting the source of funds statement and uses of funds statements to an output device of the computer, wherein

the ratios include at least one ratio selected from the group consisting of;

productivity and efficiency ratios, efficiency and investment ratios, productivity and efficiency for faculty compensation ratios, productivity for funds generated and funds invested ratios, external funds generated per total faculty salary plus benefits ratios, contribution of external funds generated to total faculty plus benefits excluding centrally provided services ratios;

contribution of external funds generated to total faculty plus benefits including centrally provided services ratios;

dependency funding mix percentage ratios; and

efficiency expense mix percentage ratios.

11. A system for tracking the flow of funds in an academic health center, comprising:

a school of medicine, a hospital and a clinical practice plan as participants;

a network connecting each of the participants;

a processor for gathering data from each of the participants via the network and carrying out the functions of;

identifying, using the gathered data, all transactions across said each of the participants;

identifying, using the gathered data, all sources of funds provided for each department of a participant;

identifying, using the gathered data, all uses of funds for each department of the participant;

analyzing the funds flow among the participants; and

generating a source of funds statement and uses of funds statement for each participant using the identified sources of funds and uses of funds, wherein

the source of funds includes cash received and values received that are not cash, and

the uses of funds include cash paid and values provided that are not cash values.

12. A system for tracking the flow of funds in an academic health center, comprising:

a school of medicine, a hospital and a clinical practice plan as participants;

a network connecting each of the participants; and

a processor for gathering data from each of the participants and generating at least one report based on the data, wherein the data includes a list of all sources of funds and uses of funds for a each department of a participant, wherein the at least one report is selected from the group consisting of;

custom triangle and supporting statements, standard triangle and supporting statements, customized departmental statements, standard department statements, departmental ratios by participants, ratios by department across participants, aggregate department sources and uses per FTE.