Healthcare Cost Management Solutions
COVID-19 has had a severe impact on hospital operations, revenue cycles, financial operations, and supply chain management, and no wonder then the cost escalation has emerged as a major challenge for the healthcare industry.
Healthcare Cost Management Solutions
COVID-19 has had a severe impact on hospital operations, revenue cycles, financial operations, and supply chain management, and no wonder then the cost escalation has emerged as a major challenge for the healthcare industry.
We help hospital and other healthcare facilities manage costs through scientific, innovation-driven solutions.
Why do Hospitals require Cost Management?
Payment protocol systems such as DRG (Diagnosis Related Group System) have made it mandatory for private healthcare to focus on cost management, and our team of experts help hospitals achieve it with robust processes, systems, and resource allocation and optimization.
Activity-Based Costing (ABC) in Healthcare
Time driven activity-based costing is a scientific technique for cost calculation of all the activities and resource allocation. It is a bottom-up approach, which is internationally acknowledged as an effective method for calculation of actual cost involved in each surgery/procedure.
However, activity-based costing does not mean cost-cutting. In fact, it is a technique for reengineering business processes that can help hospitals save a minimum of 5-7%, with a direct impact on EBITDA. But this is only possible when you have a robust and extensive view of cost behaviour for all the activities and services.
We have a seasoned team of CMA professionals with 20+ years of expertise in healthcare cost management who has successfully implemented activity-based costing (ABC) in various hospitals globally
What to expect from ABC System
Our services for New or Existing Communities:
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