CostFlex Systems started business in 1989 with the installation of its unique Activity Based Costing system in two hospitals - a 250 bed Georgia based hospital and an 850 bed New York based university hospital.
As would be expected, client growth during the first ten years was slow. It was also very steady. The current service oriented business model was carefully followed. Then, as now, each new client is interrogated for new ideas of how to use cost data to benefit the hospital. Almost all the hundreds of reports and report generators were the result of our client’s “I wish I could …..”.
While our primary clients are medium to large acute care hospitals, quite a few critical access and long term nursing facilities are clients as well. When our clients started buying physician practices and clinics, these were easily added to the growing client base. In the last ten years, hospital systems have found us leading to multi-hospital, multi-state installations.
Only off the shelf computers and networking technology is supported. After converting from DOS to the Windows operating systems in 1992, only Microsoft products are supported in our core products. In 2016, we are launching outreaching products on the Web using smart-phone and cloud based technologies.
All CostFlex products are carefully engineered to minimize both the client’s operational staff and our own support staff. For clients, only a few days a month of an existing staff member is required. Our own support staff is small as well but is growing as the number of products expands.
CostFlex Systems has been profitable every quarter since its founding in 1989. The corporation has no debt.