ExactCost® ABM is a powerful Business Process Management tool for healthcare providers.
ExactCost® ABM (Activity-Based Management) is designed to empower healthcare executives with the ability to measure and analyze operations from the enterprise level to implement strategies that will increase profitability and achieve business goals.
The key to our enabling technologies is that ExactCost makes information from existing disparate IT systems accessible, putting it at the fingertips of those who have ownership and accountability for fiscal performance and empowering them with the tools to drill down into the specific details they need to make informed decisions.
With the organization's true costs captured through the ExactCost® ABC application, the ExactCost® ABM application tools can then be used to pinpoint activities that appear to consume more resources than expected or contain sub-activities that appear to be duplicative, inappropriate, or of minimal value.
Equipped with these tools, healthcare managers are truly empowered to make a difference.
Some examples of uses include:
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· Analyze the profitability of service-lines, including the decision to add or discontinue services. |
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· Change processes to reduce costs and improve organizational throughput. |
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· Measure and monitor the effectiveness of the changes made. |
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· Assess the purchase of new capital equipment. |
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· Negotiate Managed Care contracts and increase revenue by insourcing profitable services. |
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· Analyze physician preferences to promote standardization and cost savings. |
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· Improve planning, budgeting and performance measurement. |
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· Bridge the gap between finance and operations. |
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· Set achievable goals at the enterprise and departmental level. |
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· Migrate to a performance-based culture. |
