HCI's Procedure Cost Analysis & Reporting service consists of a two phase process completed simultaneously:Phase One - Project Costing Process - Procedure Cost Analysis
During this phase HCI identifies the procedures in the facility's charge master at the departmental level that represent 90-95% of the total revenue and volume of the facility. Using these selected procedures, HCI works with the facility's department directors for 1-2 days to gather critical information on direct costs (including labor, time and materials) associated with the procedures. HCI captures the indirect or facility overhead cost through a step-down allocation process extending down to the procedure level. The developed cost standards are then validated to ensure that the calculated procedure cost can be reconciled to the total facility expense with a variance of less than 1%. The procedural costs can be loaded into your system or reported via the HCI reporting tool.Phase Two - Project Reporting Process - Procedure Cost Reporting Development
Procedure Cost Reporting involves the development of the Microsoft Access reporting tool. The Procedure Cost Analysis is combined with patient demographics, charge transactions and payment details, creating a comprehensive Decision Support database that supports both high level and drill down reporting. The User also has the choice to download information into .pdf or excel files using either existing reports or a data extract function. The Procedure Cost Reporting tool includes over 70 standard report options, and because it is a relational database, the database has the ability through the support of HCI to create any number of unique reports to meet your needs. Although not needed for the Cost and Reporting database, HCI has developed reports to analyze Accounts Receivables, categorizing them into Paid history, Partial paid, Unpaid, and Credit Balances which our clients have found very valuable for General Ledger Closing processes. The reporting database can be built and running within a few weeks of receiving the data files from your Information Systems or Finance departments. This data can be updated annually, semi-annually, quarterly, or monthly depending on your needs.
The Procedure Cost Analysis & Reporting phases include an exit meeting with facility administrative and utilization review personnel, as well as a brief training session to orient the users to the capabilities of the reporting database.
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