Next week, CostFlex President, Michael Ryan, will be presenting at the Louisiana HFMA 2025 Annual Institute in Baton Rouge.
In his session, If You Can Count It, You Can Cost It™, Michael will delve into the current “go to” method of cost accounting in the United States healthcare market, which uses charge codes as an activity driver. He will explore changes you can make in your cost model for more accurate costing. Specifically, Michael will address overhead department costing methods (Admitting, Business Office, Medical Records) and how to apply these costs directly to the patients.
Additionally, Michael will discuss the importance of receiving surgical time downloads to obtain a more accurate surgery cost. By costing out the actual staff in the OR Rooms instead of using the “Surgery Charge 1st Hour” charge code, you can have more actionable cost information on which to base your decisions.
Attendees will also benefit from a before and after cost analysis to see how these changes can impact cost numbers for your patients, ultimately affecting your profit and loss reporting.
Don’t miss this opportunity to gain valuable insights and improve your cost accounting methods! See you there!
