Hospital cost accounting comes with many moving parts. You must gather information, organize it, analyze it, and determine areas of strength and weakness. Skipping out on one part could make all the effort spent on the others worthless. An often-neglected step of the cost accounting process is the final one: storage.
The hospital has spent time and money crunching thousands and thousands of numbers, service lines, payer contracts, and more. The volume of data needed to make organization-wide revenue conclusions is massive. So where does all this information go? Unfortunately, most computers — even those intended for business — have limited storage space. They also don’t allow you to easily organize and search the mountains of corporate data you intend to store.
The solution to these challenges is the SQL Enterprise DSS Healthcare Data Warehouse and Reporting Software by CostFlex. If you’re unfamiliar with some of these terms, don’t worry! Let us break down the ways it can help you.
Enterprise Data Warehouses
An enterprise data warehouse is a digital storage space that houses large quantities of information for companies and organizations. These warehouses aggregate data from various sources and store it in a centralized database, where the organization can access historical and up-to-date information in real-time.
Most enterprise data warehouse software is not exclusive to the healthcare industry. However, CostFlex’s enterprise data warehouse is unique, making it the most intuitive and accessible enterprise DSS warehouse in hospitals on the market today. Further, it requires limited daily maintenance, allowing your hospital to improve revenue margins simply by devoting costs elsewhere.
Decision Support System (DSS)
If the enterprise data warehouse is what stores an organization’s data, then the DSS is what makes sense of it. First, a DSS absorbs and analyzes all the information in the data warehouse. Then, it synthesizes its findings to create a comprehensive record of the information, which can be easily retrieved whenever needed.
The sheer volume of patient cost and revenue data can be overwhelming for healthcare organizations. Without the right software, making cost accounting decisions can feel like guesswork. It’s difficult enough to keep up with the current reports, let alone try to use years of historical numbers to gain a more informed perspective.
The benefit of CostFlex’s SQL Enterprise DSS Healthcare Data Warehouse and Reporting Software is that it is programmed to understand the needs of healthcare organizations. This ensures that your hospital has the most accurate information possible when it needs it.
Structured Query Language (SQL)
The structured query language is how CostFlex’s software accesses the data it has stored and gathered. It’s part of the software that allows you to search and manage the data you’re looking for. In addition, CostFlex’s unique SQL is programmed to make using the software intuitive for your hospital’s accounting staff.
SQL Enterprise DSS Healthcare Data Warehouse and Reporting Software by CostFlex
The combined software uses all three of these helpful tools in harmony. The end result is an enterprise DSS warehouse in hospitals that can enhance your problem-solving capabilities, find areas for improvement, and reveal budgeting and cost accounting solutions. Presenting the information to hospital administrators is as simple as exporting it to your preferred presentation software.
SQL Enterprise DSS Healthcare Data Warehouse and Reporting is fully integrated with other CostFlex products, like our Total Cost Accounting and Revenue Cycle Management suites. This allows your hospital accounting department to fulfill all of its cost accounting and revenue cycle needs on a single user-friendly interface.
While the software may seem complex on the surface, CostFlex offers turnkey product installation and on-the-ground staff training to ensure you understand every step of the process. In addition, your dedicated CostFlex project manager will show your accounting staff the ins and outs of the new software and even teach them how to perform maintenance if necessary.
Each hospital’s software is customized using information from the organization’s department leaders. This maintains a comfortable level of familiarity for your staff, enabling them to transition to the CostFlex system seamlessly.
If you are unsure whether CostFlex’s SQL Enterprise DSS Healthcare Data Warehouse and Reporting software will work for you and wish to see it in action, schedule a demo online.