CFO’s FATAL FLAW


https://cdn2.hubspot.net/hubfs/498900/CFOS’%20Fatal%20Flaw%20-%20Survey%20Finds%209%20of%2010%20Hospital%20Executives%20Don’t%20Know%20Their%20Cost.pdf?t=1509455493610

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SURVEY FINDS
9 OF 10 HOSPITAL
EXECUTIVES DON’T KNOW THEIR COST

CONCLUSION
In the past, cost accounting has been undervalued and underutilized as accuracy and accessibility of information on cost wasn’t seen as a necessity in traditional volume-driven payment models. This is not the case in risk- or value-based medicine. Without
credible and detailed cost data, it will be extraordinarily difficult for healthcare organizations to strategically manage their operations and minimize the impact of declining reimbursement.

With close to 90 percent of healthcare leaders operating in the dark on cost, leveraging data from advanced cost accounting that is comprehensive, accurate and accessible is mission critical. Providers are then able to collaborate and make more informed decisions in order and ultimately deliver more value to the patients and the community that they serve.

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