COSTFLEX NEWS: MAY 2020
Pensacola Beach FL
Is quarantine almost over? We are ready for fun in the sun!

COSTFLEX BENCHMARKING
We are on schedule and excited to formally announce the official release of our new CostFlex Cost Based Benchmarking today!
 
In the new Benchmarking application, the cost and decision support data from all participating hospitals will be masked for privacy and loaded into a SQL database containing the same data of all the subscribing hospitals from around the country (CostFlex Staff provides remote assistance as part of standard client support services). Utilizing a Power BI interface, hospital analysts can quickly and accurately generate high/low/average cost comparisons of similar service lines from all included facilities. This is truly a powerful tool!
 
Please don’t hesitate to contact your favorite CostFlex Support representative for more information and/or to request a Web demonstration for your team.

CONSULTING SERVICES
CostFlex is staffed at 100% to support our clients during the pandemic and, where needed, to provide temporary decision support and analytics staffing as well.

As released in the April 2020 Newsletter, CostFlex is offering the following services to current CostFlex clients:

Consulting services (up to 4 hours free per client) for analysis / reporting needs.
CostFlex can help run analysis on COVID-19 cases, quantify loss of revenue, run monthly costs or validate data as well as model payer contracts changes such as Medicare.

CostFlex can run system if short on staff (fee for consulting services).
Currently, CostFlex runs cost systems for several clients. In order to take advantage of this service, CostFlex would need a remote access connection to the CostFlex database as well as the current month's source files.

Contact CostFlex for more information.

NEW FEATURES
Enhanced reporting for Institutional and Professional Claims and Remits

New fields have been added to break out Institutional / Professional Claims as well as Remits. These fields can be used on the Patient Costing: Patient View Selected and the Contracts Analyzer: Variance Analysis Report.

837_Chgs_I - Charges for Institutional 837 Claim
837_Chgs_P - Charges for Professional 1500 Claim
835_Allowed_I - Payer Allowed Amount for Institutional Claim
835_Allowed_P - Payer Allowed Amount for Professional Claim
835_Pmt_I - Payment Received on Institutional 837 Claims
835_Pmt_P - Payment Received for Professional 1500 Claims

As always, if you have any questions or need assistance, please contact the CostFlex Support Team.

WEBINARS
From the results of our client survey, last week’s webinars were a success!

If you attended the webinar and didn't receive the email containing the presentation material, please let us know.

As we are planning future webinars, we appreciate your input since CostFlex works for you.

Please help us by sending a quick email with your Webinar Wish List!
(800) 398-5753