What Is Hospital Cost Accounting As A Service?

As a healthcare finance professional, your value for accurate hospital cost accounting data is immeasurable. But unfortunately, the workforce or IT server infrastructure required to gather and analyze this data is not always available for many hospitals and clinic organizations providing patient care today.

CostFlex recognizes this issue more often than ever before, so we’ve created a unique and proprietary service to help organizations with limited resources that still have a real need for hospital cost accounting and service line data.

With the recently released CostFlex Costing as a Service (CaaS) professional service offering, your organization can quickly and accurately report all of your offered service lines without needing to hire additional staff or spend more money on hardware or software! In addition, the CostFlex team will provide everything else, including a turnkey installation, remote cloud hosting for your customized cost accounting system, and all product maintenance needed to keep your remote cost model healthy.

HOW HOSPITAL COST ACCOUNTING AS A SERVICE WORKS

In a typical healthcare decision support software vendor-client relationship, the vendor licenses the following:

  • Use of their proprietary software to the client,
  • Assists with setting up the tools in the agreed-upon environment (either on the premises or on a virtual server),
  • Assists with installing the product and staff training to the point determined in a contract between both parties.

From the point of a completed installation and training where a client has decided to go with a standard on-premises or virtual product delivery, the client would then proceed with their own internal or contracted staff (see CostFlex Temporary and Permanent DSS Staffing Solutions for more information). The client would be responsible for daily/monthly data download processing, cost accounting model maintenance, and management reporting requests.

With the CostFlex Costing as a Service (CaaS) solution, the client’s ongoing experience with CostFlex will be drastically different from that of our standard Total Cost Accounting clients—let us explain!

  • CostFlex always provides turnkey hospital cost accounting installations for our clients, regardless of whether it’s a standard or CaaS engagement. The new client will upload necessary data and statistics to a secure FTP server (flexible formats accepted), so the CostFlex programming professionals can establish the database environments.
  • For both standard and CaaS setups, the CostFlex installation team will provide a turnkey setup of the CostFlex Total Cost Accounting System (TCA), to include onsite interviews of the client’s Department Managers for costing direct variable creations, support department step-downs to revenue departments, and all other technical cost model work needed to bring the CostFlex TCA System online.

COSTING AS A SERVICE vs. STANDARD TOTAL COST ACCOUNTING

Where an on-premises or virtual client would now be responsible for ongoing maintenance and operations with their own staff arrangements, the CaaS client organization would not need staffing or technical IT infrastructure to benefit from the CostFlex Total Cost Accounting System’s accurate DSS information and reporting—ever!

Let us do the heavy lifting while your management team enjoys the benefits of having accurate and timely decision support data, effectively maintaining a state of financial health. With CaaS, CostFlex will virtually host, manage, and staff your organization’s completely personalized Total Cost Accounting product experience!

SCHEDULE YOUR CaaS ACCOUNTING DEMO TODAY

If you feel that your healthcare organization would benefit from having hospital cost accounting as a service, we are here to help and answer your questions. CostFlex routinely provides entire management teams with virtual demonstrations they can attend from the comfort of their own desks. In addition, our live hospital cost accounting software ­­­virtual demonstration process has proven invaluable in quickly bringing new, prospective clients up to speed regarding what is possible through this unique offering.

When a new client decides they are ready for powerful DSS reporting, we complete the agreements and begin a short month of setup to pave the way for the onsite cost model creation stage required to establish the “black box of magic” in a virtual environment. Imagine having a login to a virtual server where all your professionally audited cost accounting data resides and is ready for your team to create their desired service line analysis reports anytime.

It’s really that simple with CaaS!

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