HCS, LLC Cost Accounting Services

At Healthcare Consulting Services, LLC (HCS), we recognize the growing importance of a cost accounting system and offer two services that may be of interest to you:

The Cost Accounting Model (the Model) developed by HCS to help healthcare providers identify cost data. The Model is easy to implement, flexible, easy to maintain and reasonably priced. Our process involves a short implementation timeframe (three to four months) and involves all department managers and applicable administration personnel.

Assistance in implementing a purchased Cost Accounting System to ensure timely completion of the project. Implementation of cost accounting systems is costly and time-consuming. These projects have a tendency to drag on because there is no sense of urgency within the organization. Our role is to assist your staff in conducting efficient staff interviews for the development of standard costs, developing reasonable RVUs (relative value units) and ensuring timely implementation.

Historically, cost accounting data was never identified because the expense of obtaining such information outweighed the benefit. Today’s environment is different. Reimbursement dollars are shrinking while costs are increasing, so your options are to optimize reimbursement and manage costs. Neither can be done without cost data.

The Model is an inexpensive alternative into the world of cost accounting. It is PC-based and developed using Microsoft Access 97, a database software that enables adaptability and manipulation of raw data. Furthermore, the Model provides you with valuable cost data to make accurate decisions for any of the following situations:

	Making pricing decisions with HMOs and PPOs
	Determining physician profitability
	Evaluating provider services
	Determining procedure profitability
	Setting rates

Part of the implementation process of a cost accounting system involves meeting with your department managers to discuss revenues, expenses, statistic allocations or RVUs. During the meetings we often discover other opportunities which affect your reimbursement, such as:

Chargemaster analysis

Quality Improvement Programs

Coding reviews (CPT/Outpatient/Physician)

Re-engineering

Emergency Department billing and operation review

Ambulance service billing and operation review

Patient account management services

Square footage analysis

Medicare/Medicaid cost report

If you would like to learn more about our cost accounting services, please call Grant Byers at (317) 633-4708, Ext. 316 or e-mail at gbyers@hcs-healthcare.com.

[ Home ]