2:30pm - 3:30pm Wednesday, March 11

Location & Room

Orlando - Orange County Convention Center
W208C

The inaccuracy of traditional methods to approximate costs makes it difficult to understand the true cost of care; therefore, understand the cost of providing services within healthcare. As a result, there is a poor understanding of whether revenue actually covers the cost of a medical condition and places providers at a disadvantage when negotiating with payers. Detailed operational, financial, and clinical information at the patient level is required to understand how these variations affect outcomes and margins. In this session, Phelps Health will share the process improvement project pathway used to implement a cost-analytics decision support tool. Through integrating financial, clinical, and operational data for each patient encounter, analyzing all costs from patient activities and services consumed during a care episode, Phelps Health was able to identify areas for operational and clinical process improvements. Specific examples of use cases will be presented demonstrating the return on investment (ROI) for these efforts.

Speakers: 
Vice President and CFO,
Phelps Health
Vice President, Product Management, Customer Management and Implementation,
Craneware, Inc.
Continuing Education Credits: 
ABPM
1.00
ACHE
1.00
CAHIMS
1.00
CME
1.00
CNE
1.00
CPHIMS
1.00