Costing and Managerial Accounting

Selecting the Right Costing Model

By using cost data at appropriate levels of accuracy and detail to support decision making, hospital finance leaders can minimize the risk of incorrect decisions caused by insufficiently precise data.

Paul Selivanoff, CPA October 29, 2018

Sample Footnote for a Cost Accounting Report

This is an example of the type of footnote an organization might provide in its cost accounting report and is intended to serve as a template for such a footnote. It originally accompanied the article “Selecting the Right Costing Model,” by Paul Selivanoff, CPA (November 2018 hfm). 

HFMA October 26, 2018

Cost Accounting: Bridging the Gap Between Where You Are and Where You Should Be

By creating a single source of truth, MultiCare aims to have coordinated oversight of all data, including security and design, and provide a consistent training curriculum for its finance team.

Catherine Savage October 10, 2018

Using Business Intelligence to Succeed in Value-Based Care

Gain buy in for value-based care by picking a few key areas to cost and monitor. A few easy wins builds momentum and confidence across a healthcare organization.

Laura Ramos Hegwer October 1, 2018

Repurposing TDABC: Case Examples from a New York Hospital

Time-driven activity-based costing principles provide an excellent basis for helping healthcare organizations identify opportunities for improving their operations.

Sourjya Patnaik, MBA, CHFP September 4, 2018

5 DRGs Are Primary Contributors to Rising Average Loss per Medicare Hospital Admission

Among Medicare admissions in 2015 to 2017, costs per admission rose more rapidly than did payments, and the impact of this trend on hospitals’ financials strongest with admissions associated with 5 DRGs.

HFMA August 29, 2018

A New World Order for Hospital Margins

As expenses grow faster than revenues, hospitals are looking for ways to maintain margins.

John Johnston July 24, 2018

3 Keys to Defending a Healthcare Organization’s Margins

As the healthcare industry transitions from volume-based to value-based payment, healthcare organizations must establish priorities and prepare to assume risk in select areas of focus. To do this, providers must develop an understanding of the precise costs for individual encounters, procedures, and episodes of care, and hone in on specific cost drivers.

Rita E. Numerof, PhD June 26, 2018

Cost Accounting Evolves as Provider Needs Change

Organizations can use their current data to understand what it truly costs to deliver healthcare services. Using existing data and automating the pull of that data also allows for less human intervention to maintain cost accounting models.

HFMA June 11, 2018

Healthcare Transformational Landscape: Impact on Accounting From EHR Platforms and Other

The cost of implementing a new electronic health record system can be expensed or capitalized over the life of the implementation project.

Norman C. Mosrie, CPA, FHFMA, CHFP May 30, 2018
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