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PATIENT LEVEL COSTING

Patient Level Costing is a web-based system designed for the consulting process of measuring the hospital services provided and related costs from patient service perspective. It calculates service delivery costs and funding revenue based on clinical and financial data consolidated from other healthcare systems. SBS provides Patient Level Costing (PLC) tool from partners to perform the costing analysis and measure profitability per service item provided, package or department


services

features

    • Costing: calculates the cost of hospital service delivery to measure business performance and identify areas requiring cost savings or improvements, introduces and implements new standards for patient level costing, developing and implements one single national cost collection to replace current multiple collections, establishes the minimum required standards for costing software and promotes its adoption, and drives and encourages sector support to adopt Patient Level Costing methodology and technology.

    • Revenue: calculates public and private revenue streams using sophisticated business rules to reflect complex terms and conditions, such as government case mix or activity-based funding, block-funded government grants, and private health insurance contracts.

    • Reporting: monitors hospital performance through regularly generated reports that are distributed through e-mail, custom reporting allowing in-depth analysis of data using simple yet powerful query tools.

    • Reporting Framework: standardizes State and National Health Authority statutory reporting across all participating hospitals, sets up a customized reporting framework to process all hospital data through the same validating, mapping or processing and steps into submission-ready files.

    • Hospital Budgeting: Power Budgeting, Forecasting & Modelling (PBFM), powered by Adaptive Insights, the recognized leader in cloud Corporate Performance Management (CPM), 360-degree view of your organization's performance past, present, and future.

    • Integration with many different applications via data connectors or merely import/export data via Excel or flat file.

    • Connection with MS Office to easily create high-quality reports, Board books and presentations with Microsoft Word, Excel and PowerPoint

services

BENEFITS

    • Benchmarking comparisons

    • Income optimization

    • Cost variance analysis

    • Improved clinical coding

    • Resource planning

    • Accurate reporting

    • Feeds for service line reporting

    • Internal recharging (of clinical support services)

    • Producing National Reference Costs returns

    • Increased clinician awareness of costs

    • Evaluating alternative clinical practices

    • Improve patient outcomes by linking safety and quality, performance and cost and integrating Power Health Solutions' PPM to associate revenue and cost at the patient level

    • Increasing the number of relevant claims submitted to a facility

    • Decreasing the time spent organizing billing and collecting payments

    • Higher level of efficiency, accuracy and security

    • Monitoring claims faster and reducing healthcare fraud

    • Cyber security of information in patient portals

    • Allowing decision makers focus on highly profit service items and analyze low profit or loss service items in a hospital

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