CostFlex Newsletter August 2021: Helping Clients Achieve Their Annual Goals

Monthly Newsletter: August 2021

Helping Clients Achieve

Their Annual Goals

August is named after Augustus Caesar, founder and the first emperor of the Roman Empire, who was posthumously adopted by his maternal great-uncle Gaius Julius Caesar.

While the month is known for many things, including the dog days of summer, National Watermelon Day (Aug. 3) and National Smile Week (Aug. 5-11), many finance professionals are looking at their calendar year goals and assessing where they are currently positioned relative to the plans they set out in January.

This month’s newsletter will be focused on how CostFlex can assist those organizations that need reinforcements to attain their goals!

CostFlex Custom Analytics

“Perhaps what you measure is what you get. More likely, what you measure is all you’ll get. What you don’t (or can’t) measure is lost.” – H. Thomas Johnson

CostFlex was founded as a company focused specifically on healthcare cost accounting and the reporting tools needed by finance professionals to make the best decisions possible from reliable and accurate data.

This still holds true and with technological advances, we are able to provide next level data analytics to our clients when compared to what we were limited to over three decades ago at our company’s inception.

Most clients are taking advantage of our 2021 release of the CostFlex Cost Based Benchmarking (if you are not familiar, please contact a CostFlex Support Representative today for information). It has continued to be offered free of charge to all existing and new clients during the pandemic and provides an absolutely unique offering of comparative data to help understand how your organization’s performances compare to others in the USA market.

Learn more about Cost-Based Hospital Benchmarking

This web-based tool has been received with high praise by every participating client. However, some client organizations wanted to add more data and increase the output of information from this flexible and powerful reporting tool. CostFlex Custom Analytics was soon offered to answer the need.

Imagine adding your reimbursement data and other related financial metrics to an already data rich cost accounting analytics tool and having it conveniently available through a web interface for management meetings and other non-office centric data exploration.

Current clients that are utilizing the Custom Analytics are quickly finding it to be their “go to” for reliable, customizable, and complete data mining and are sharing their success with the CostFlex Team!

Please do not hesitate to request a private demonstration for your management group today and discover what others are already finding to be an invaluable addition to their CostFlex Total Cost Accounting product suite.

Email to schedule a demo

Cost Accounting Reinstall/RVU Updates

Lets be honest – even with the best team and best intentions to keep your cost accounting data reliably accurate and in top notch condition, real life is going to find a way to get your success train off track!

Don’t be too hard on yourself, some of the most successful healthcare finance teams we work with daily have their share of bumps in the road. What seems to set them apart is what they do at these times.

One of the most common areas of identified need we see is a loss of complete trust in their core financial numbers that are used to support a wide variety of critical analytics. In particular, their cost data accuracy being in question.

CostFlex provides a 100% turnkey installation of our Total Cost Accounting software tools for all new clients for good reasons. We know our tools better than anyone else (especially a brand new client) and this knowledge allows us to complete a new installation in less than 8 weeks and the completed installation will routinely be the most accurate representation of cost data accuracy possible.

With this in mind, when your organization finds itself falling behind in cost accounting data file maintenance and needs to quickly and accurately get back on track, there is not a better place to start than with assistance from the professional team at CostFlex Systems!

Because your data file interfaces, staff training, etc. are typically already in place, a CostFlex Cost Accounting Reinstall will be performed with routine success and in record time compared to any other internal or consultant based approach – we just can’t be beat!

If your organization is interested in a reinstall or would like assistance from CostFlex in performing a quick “health check” of your data accuracy, please do not hesitate to contact your CostFlex Support Representative to learn more and/or get started.