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Achieving Clinical and Operational Excellence: How to Establish Healthcare Service Line Costs
Monday, 11 July 2011
Not knowing the clear direction that the healthcare reform initiatives will take over the next several years, healthcare organizations remain under intense pressure to reduce costs and repair inefficiencies. Most organizations understand that to successfully execute, they have to manage cost and key performance measurements across business lines. Yet, few are able to attain this.
Healthcare provider organizations find themselves in the middle of market pressures from payers, the government and competing for market share and doctors. The only way to sustain an organization in this financially stimulating environment is to closely manage profitability, which cannot occur without understanding true costs and profit sources. Healthcare organizations that fail to recognize and meet this imperative will find it increasingly difficult to compete and may eventually have to close their doors.
This white paper will address how innovative healthcare organizations are adapting to different service line costing methodologies and to implement a sustainable and supportive model for healthcare costing. Balancing detail and accuracy is critical in deciding on a more efficient model for developing service line costs than traditional costing methodologies. Healthcare organizations need the support of timely and insightful patient-level analysis and the ability to access the right level of detail needed to drive improved performance across their organization.
About Oracle Oracle is the world's most complete, open, and integrated business software and hardware systems company. For more information about Oracle, please visit http://www.oracle.com.
Thoughts, comments, news, and reflections about healthcare IT from Microsoft's worldwide health senior director Bill Crounse, MD, on how information technology can improve healthcare delivery and services around the world.
Not knowing the clear direction that the healthcare reform initiatives will take over the next several years, healthcare organizations remain under intense pressure to reduce costs and repair inefficiencies. Most organizations understand that to successfully execute, they have to manage cost and key performance measurements across business lines. Yet, few are able to attain this.
Healthcare provider organizations find themselves in the middle of market pressures from payers, the government and competing for market share and doctors. The only way to sustain an organization in this financially stimulating environment is to closely manage profitability, which cannot occur without understanding true costs and profit sources. Healthcare organizations that fail to recognize and meet this imperative will find it increasingly difficult to compete and may eventually have to close their doors.
