Whitepapers written by CostFlex Staff/Clients that are also published on LinkedIn.
As with anything like this, countless vendors are plying the hospitals with “solutions” to this challenge—often with hefty price tags. Our clients have asked if we have created a solution to handle this for them, and the answer is we didn’t have to create anything new. Our clients can use the existing software to accomplish the classification of the data. However, we are working on the final stages of the presentation layer for them.
In many ways, cost accounting is very straight forward – – except when it is not! One issue that we run into when implementing a cost system for a hospital’s Decision Support System is dealing with 340B drugs.
A common topic we discuss at our staff meetings are healthcare trends that we are seeing in the US and our client base. One trend that most people outside of our industry are not aware of is the issue of hospitals going out of business and shutting their doors.
One of the challenges for a critical access hospital is determining the actual reimbursement that will eventually be paid on Medicare and other cost-reimbursed accounts. In the case of North Valley Hospital in Whitefish Montana, Medicare and Medicaid are both cost-reimbursed and comprise half of the Hospital’s total revenues.