With our full suites of software products (Total Cost Accounting System and Revenue Cycle Management), hospitals have a decision support system that enables them to perform cost accounting, revenue cycle management, and service line reporting, among other critical functions, with the highest degree of accuracy and efficiency. Unlike other available decision support software tools, the CostFlex system was designed for use in healthcare specifically, granting hospital finance administrators invaluable insight into how to maximize their organizations’ profitability.
Healthcare facilities of all sizes can benefit from the CostFlex decision support system. Our fully scalable software suite will improve performance and productivity at standalone clinic businesses and multi-entity hospital organizations alike, offering the flexibility to meet the changing demands of a growing business as well.
CostFlex routinely completes turnkey installations for our decision support software products in eight weeks or less (including staff training). When installation is complete, your organization will have ongoing access to our best-in-class customer support team. You’ll also receive regular software updates at no additional cost—CostFlex clients will always have the most current version of every CostFlex product they are licensed to use.
"CostFlex offers the most accurate and affordable decision support software system in the healthcare industry."
Our Cost Accounting software products manage procedure-level costing and patient and service line costing, as well as actual and projected reimbursement data, with unbeatable accuracy.
Activity-Based Cost Accounting
Patient and Service Line Cost Accounting
Service Line Analytics
Correctly restates expenses in terms of the specific patient charges and procedures that received benefit from every expense dollar on a monthly basis after financial closings.
Rolls activity-based cost accounting data from the procedure level up to the patient level, making it easy to group patient demographics into custom service lines for performance reporting.
Aggregates and reports large volumes of service line data efficiently, with full marginal cost capabilities available for all reporting.
SQL Enterprise DSS Warehouse and Reporting
Medicare Cost Report Estimator
Gathers, analyzes, stores, and reports DSS data that helps healthcare organizations make more informed decisions. The ability to compare facilities across all service lines is fully supported.
Allows hospitals to report their financial standing with the government frequently, helping them manage their budgets throughout the year.
CostFlex Revenue Cycle Management software integrates with our Cost Accounting tools to help your organization negotiate profitable contract terms and calculate accurate contractual allowance at the time of patient discharge, and it provides the payment analysis data needed to appeal short paid accounts by payers, all to ensure prompt and accurate reimbursement for our clients.
Payer Contract Analyzer
Automates the detailed reimbursement terms for numerous payer contracts and stores the data within a single interface. The software will not only automate 100% of all payer contracts (including the government) but also allow for an unlimited amount of “what if” scenarios to fine-tune contract negotiations for all services.
Pre-Billing Charge Error Auditor
Reviews and audits discharged patients for charge correctness before bills are posted, allowing hospitals to correct errors while the patients are still in bill suspense and before the client submits the 837 for payment.
Hospital Price Transparency
Calculates and reports pricing data for a hospital’s primary shoppable services, ensuring that the organization remains in compliance with the Transparency of Pricing law.
In addition to our primary cost and reimbursement software solutions, we offer many supplemental DSS tools, such as Service Line Analysis Reporting software, Flexible Budgeting software, and a Medicare Cost Report Estimator, among others. All of our solutions fully integrate with each other to deliver the highest level of performance and most accurate data for all of your organization’s financial decision support needs.
Web-Based Executive Dashboards
Automates the analysis of numerous data points from the Cost Accounting and Revenue Cycle Management suites, organizing the big picture findings into easily readable graphics. As an added bonus, any database that the client organization uses can be visualized and trended without the need for additional software licenses.
Allows healthcare organizations to account for variables that affect profits and losses and adjust budgets as needed throughout the fiscal year.
Cost-Based Hospital Benchmarking
Compares your hospital’s performance metrics to those of similar organizations, spotlighting areas for improvement and assisting with marketing efforts. All participating hospitals will be given a unique number to keep their organization’s data confidential while enjoying literally millions of live data points to compare their services against.
SCHEDULE A DEMO
Designed for ALL HEALTHCARE PROVIDER TYPES, CostFlex Systems, Inc. has a 30 plus years track record of providing the very best in Cost Accounting, Decision Support & Payer Contract Management software for our clients.