From an intrepid reader:
I want to figure out how much $ it costs our company when we close early, open late, and/or don't open at all. The past few "snow days" caused us to close early one day, close one whole day and open late another. In the past, and per our handbook, we have paid the employees. There are so many variables, etc. but I didn't know if there was a way to get a "worst case/best case scenario" per hour we are closed, when we should be opened! Does this make sense? Let me know if you have any ideas or resources I can turn to so I can give it a try!
"Snow day" questions are the most popular subject, just ahead of ICD-10 fears, so far in 2014. The weather and vaccines have contributed to what looks like the slowest January in a few years. The schools are closed, fewer kids get sick, and the effort to get the world vaccinated for the flu has really turned visit volume downward. Great for society, not great for a practice that needs to pay its bills.
Without, yet, getting into the philosophy of whether or not to pay your employees on days when your office is closed by weather, I think there are two ways to assess your hourly costs. There are, indeed, many variables at play but here's what I see as a way to make an educated guess:
In both instances, remember that if the driving is bad, your visit volume will go down, so adjust accordingly.
Fast answer? If you do 4 visits an hour for 2 physicians each, the practice will generate about $1000 in revenue, ~60% of which will go to paying all the overhead except physician salaries. Adjust accordingly.
When I get back from vacation in 2 weeks, I'll have some visit volume data for you.