Tools & Tips | Costing and Managerial Accounting

Introducing Healthcare’s First Cost Accounting Adoption Model

Tools & Tips | Costing and Managerial Accounting

Introducing Healthcare’s First Cost Accounting Adoption Model

The HFMA-Strata Decision Technology L7 Cost Accounting Adoption ModelTM (L7 Model) is the industry's first roadmap to help healthcare providers access accurate cost data via the use of advanced cost accounting. The model provides a framework for helping hospitals and healthcare systems assess their current cost accounting methodology, understand the level of accuracy of their cost data, and benchmark capabilities against peers. The L7 Model also creates a roadmap for the actions required to ensure that a provider's cost accounting approach meets its strategic needs. Originally designed for 200 leading healthcare delivery systems, the L7 Model is now being open-sourced, making it available at no charge to all healthcare providers. 

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