September is the first month of the fall season. With it comes the close of summer and the beginning of fall and college football season. For those who have been waiting for cooler weather, cookouts and fun rivalry (hopefully!) among friends and neighbors the fall season is almost here!

With this new season, it may also be a great time to expand your use of the CostFlex DSS tools and close out 2021 with some big financial wins!

One of the greatest sources of additional patient reimbursement is often found in the area of overlooked short paid remits.

Accepting the contractual allowances provided by payers to achieve zero balance accounts receivable is often viewed as naïve by those who have taken the time and committed resources to confirm the correctness of payer claim adjudication.

CostFlex Payer Contracts Analyzer is an excellent tool to analyze the details of payer plans to glean insight into incorrect payer calculations that potentially are creating millions in underpaid accounts.

To achieve this goal, you absolutely must use a tool that provides an accurate calculation of what is due according to the contract terms of every payer for every final billed patient.

The good news is that CostFlex has been perfecting its Payer Contract Analyzer software since its release in 1992 and proudly advertises the software’s ability to correctly automate and project the actual reimbursement for 100% of payer contracts to include government!

It is important to note that in addition to providing accurate patient specific contractuals to compare against payer adjudication, the CostFlex Payer Contracts Analyzer software is also routinely used to negotiate profitable contract terms with payer representatives, post projected reimbursement to patient records for real-time service line profitability reporting compared to calculated cost, and to post accurate contractuals at the time of patient discharge for the business office.

If your organization is not currently utilizing this tool and would like to see a demonstration, please contact us to schedule a Zoom meeting for your team.

You may think your physician practices are profitable, but how do you truly know? Most new healthcare organization clients that seek accurate cost accounting data for analysis tend to initially focus on their hospital entity business and share their plans to add the dimension of analyzing their physician clinics at a later date.

This is a common approach for financial teams who most simply want to have a successfully completed implementation and the most financial success possible from the very beginning.

Adding cost accounting and reporting for clinic businesses is often an untapped resource for clients and one that is commonly referred to as “why didn’t we do this sooner”.

The good news is that, just like the hospital implementation, clinic costing is installed turnkey by CostFlex professionals.

The client can decide whether they want their clinic business in a separate cost model or to combine a hospital and the related clinics into a single model where the clinics would be treated much like departments/cost centers of the hospital model.

Regardless of the setup selected, the CostFlex SQL warehouse will store all the entities in a single database to provide for continuum of care reporting and facility to facility benchmarking and reporting.

If your organization has not added their clinic business to CostFlex and are trying to decide, do not hesitate to contact your CostFlex Support Representative with questions and guidance.

Registration is now open! CostFlex Systems is looking forward to having you as our guest(s) at the 2022 User Group Meeting, April 27th-29th, at the The Island by Hotel RL on the beautiful Fort Walton Beach, Florida.