Make Better Decisions for Your Hospital Using Service Line-Based Cost Accounting
Director of Decision Support
Vice President of Healthcare Solutions
Delivering accurate volume, cost, and profitability reporting across clinical service lines can drastically improve long-range strategic planning and short-term tactical planning. LifePoint Hospitals wanted to know which service lines to grow and expand and where there was opportunity for operational changes or process improvement to drive hard-dollar savings. However, LifePoint lacked accurate, reliable patient-level and service line-based cost and profitability analytics. During this webinar, LifePoint’s finance team shows you how they transformed their cost-accounting process to improve the accuracy and delivery of service line performance reporting across their 50-hospital health system to drive business-critical decisions.
After This Webinar You'll Be Able To:
- Identify obstacles to achieving service line-based costing.
- Apply strategies to transform cost accounting from department to service-line level.
- Make better business decisions to drive service-line expansion or cost savings using analytics.
Tools & Takeaways
- Five strategies for effective cost accounting
- Examples of audit reports and data templates used in service line-based costing
CFOs, finance executives and directors, accounting directors, and decision support staff responsible for financial and operational performance
Field of Study:
Specialized Knowledge and Applications
Familiarity with hospital cost accounting and service line concepts
HFMA members: Free
Note: This on-demand webinar is available until June 19, 2014.