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Know Your CostsGain Insight into Costs and Profitability and Improve Your Bottom Line

A proprietary tool to optimize your hospital’s payment system
 

Improving or eliminating service line costs is crucial in adapting to healthcare payment reform. Our proprietary tool helps you understand your performance drivers so you can associate the correct costs and activities with each service line. Our healthcare experts then help you gain better understanding of your costs and define which services you should focus on improving or removing.

We’ve developed our exclusive service line performance tool to be easy to use in an Excel spreadsheet format. It’s ideal for small hospitals that don’t use a cost accounting system. It analyzes your hospital’s operating margins by cost center or service line, based on your operations and input. We work with your most recent cost report, trial balance, payer mix, and insurance contract terms, to assign and allocate costs and compute net reimbursement by service line. We can help you optimize your income:

  • Develop a baseline for monitoring departmental contribution margins
  • Understand which services are profitable
  • Analyze particular costs within a service line or practice pattern
  • Align cost reporting within your departmental financial reporting
  • Study procedures within each service line for profitability
  • Foster discussions with your board about your programs
  • Gain control in payment reform mechanisms

To learn more, please contact our hospital service line performance tool services team

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