HMC FUNCTIONAL COST BENCHMARK

The HMC Functional Cost Benchmark^TM enables you to:

Turn accounting data into a powerful road map your managers can use to increase quality and lower costs
Ensure manager & physician "buy-in" through pre-validation of data
Free managers from data administration to allow more time for higher value activities
Turn conversations between your managers' peers at other facilities into actionable improvement ideas
Develop realistic, prioritized cost-performance goals, budgets and staffing targets
Identify specific factors driving high costs, including specific physicians and procedures
Assign resources most effectively
Make changes that generate results
Communicate results clearly to your managers, boards, and community

Features of the HMC Functional Cost Benchmark^TM:

Thousands of interactive Web pages that cover functions, costs, excess, hours, and analysis of each function
Identifies exactly where your opportunities for cost and quality improvement lie, from the macroscopic to the microscopic level
Links directly to physician costs and procedures
Evaluate the cost performance and FTE productivity of nearly 100 functional areas
View clinical and non-clinical areas
Additional cost detail at the sub account level
Additional hours detail at the subaccount level

Additional tool included with the Functional Cost Benchmark^TM further strengthens your functional cost position:

The HMC Budget Integrator^TM provides a dynamic model of the Benchmark results that is easily incorporated into your budget process.

Request Demo access to learn more about the HMC Functional Cost Benchmark^TM.

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Functional Cost Benchmark

SCREEN SHOT

Sample page from the HMC Functional Cost Benchmark demo: Facility Cost Excess Summary Graph

RESOURCE USER QUOTE

"I really like that the Benchmark has all the flexibility to go from the comparison and trend views, then drill down to the cross and hours maps, and then go further to drill down on peer costs and skill mixes."

Jeff Worthen,
InterMountain Health Care
Provo, Utah

SAMPLE TOOL USE

Read how HMC Partners have used the Functional Cost Benchmark to improve:

Martha Jefferson Hospital achieves its goal to improve benchmark position while improving quality by tackling four key areas of Laboratory costs.

Intermountain Healthcare Saves $560,000 Per Year in Food Services From HMC Idea Generation

Saint Joseph Mercy Hospital System (SJMHS) is composed of 743 beds spanning three hospitals that serve the Ann Arbor, MI area. A member of Trinity Health, SJMHS enters into it’s fourth year of benchmarking with HMC as one of our strongest performers, in terms of both overall cost competitiveness and networking participation.

Cost savings are achievable when hospital department managers consider alternatives to filling open positions.

HMC’s Idea to Action Plan Consulting^TM service helps hospital department managers whose functions are not high-cost generate ideas for savings potential.

SAMPLE BENCHMARK

View sample benchmark functional areas