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HMC FUNCTIONAL COST REVIEW
Main Benefits:
The HMC Functional Cost ReviewTM provides tools for you to:
- Increase your quality.
- Lower your operating costs.
- Close your budget gap.
- Outcompete other hospitals in your market.
- Report improvements to your board.
- Do all of the above without expensive outside consulting.
Main Features:
- Compares your facility's costs against other similar facilities, so you can see where others are paying less for the same services.
- Integrated cost, quality, functional, and clinical benchmarks mean you see how your cost structure all fits together.
- Evaluate the cost performance and FTE utilization of nearly 100 functional areas
Specific Benefits:
- Managers and physicians believe the numbers.
- Reduce costs for specific excessive physicians and procedures.
- Fix high-cost quality problems before they become public or reduce your Medicare reimbursements
- Managers learn about benchmarking and becoming stewards of their areas of control.
- Performance Improvement teams are built around what's discovered through the FCR.
- Next year's budget is based on solid numbers and avoids cross-the-board cuts.
- More here
Specific Features:
- The benchmarking data is valid. Every data point comes from the General Ledgers of every facility in your comparison group. Every data point is meticulously placed into the right HMC categories and audited by each manager at every hospital. Our process provides no room for arguing over the numbers.
- The data can come from any information system you have.
- HMC meets with the managers at your hospital to make sure they understand the seriousness of the benchmarking process.
- Every data point is available online and you decide who in your organization can see what.
- Detail at the sub account level to further enables managers to identify cost improvement opportunities.
- Sub account level detail for hours.
- Your managers collaborate with managers at other hospitals to solve common problems
- Your managers can tap the vast manager user community to help create solutions specific to your hospital
- Find existing solutions to problems, so your managers don't have to "reinvent the wheel."
- More here.
The HMC Functional Cost ReviewTM Components:
 | If you already have your online demonstration password, Enter Here |
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