Cost:

Free for HFMA Members
Buy HFMA Membership to Attend

Audience:

Business Partners
Health Plans
Hospitals and Other Providers
Physicians and Other Practitioners

Career level:

Executive
Experienced Professional
Mid-Senior

Recommended for:

Accounting
Billing
Collections
Financial Planning

Delivery Method:

Self Study

Advance Preparation:

None

Prerequisites:

Must be familiar with cost accounting

Course Availability:

1 Year

On Demand Webinar | Intermediate | Revenue Cycle

Advanced cost accounting: An organization's journey to Level 7 costing

On Demand Webinar | Intermediate | Revenue Cycle

Advanced cost accounting: An organization's journey to Level 7 costing

Description

Healthcare providers have little to no access to accurate, comprehensive, and actionable information on the cost of care.  While hospitals and health systems represents roughly $2 trillion of the annual spend on U.S. healthcare, close to 30% area operating at a loss.  As healthcare organizations face the challenge of reducing variation, waste and inefficiency to invest in higher value care, they need access to data and methodologies that can help them.  Baptist Health began the journey to and cost accounting using the HFMA-Strata 7 Cost Accounting Adoption Model as their roadmap.  In this session, discover how Baptist Health developed more sophisticated advanced processes and workflows to increase the accuracy and accessibility of their cost data... and achieve more meaningful, accurate financial output.
After this program, you'll be able to..
  • Assess your current cost accounting methodology to understand the level of accuracy of your cost data
  • Benchmark your organization's cost data and cost accounting methodologies against your peers to identify areas of opportunity for your organization
  • Create a roadmap for actions required to advance your methods and processes to ensure your cost accounting approach meets your strategic needs

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