Best Practices Products
FinHealth
To survive and thrive in the current healthcare environment, accurate cost data is critical for healthcare organizations to understand the costs and profitability of operations. Responding to feedback from providers, HealthMETRICS designed FinHealth as an affordable, easy to use tool for costing services. By using FinHealth, financial and operations managers can calculate the unit costs of their sites' services and develop a new, sophisticated view of the operations.
Our Current Clients
HealthMETRICS has worked with over 330 providers in 38 states throughout the country to establish national databases on Best Practices for reproductive health and pharmacy services. Providers have included state departments of health, private family planning agencies and private providers from New England to Florida, in both urban and rural regions. FinHealth 2000 clients have found the software program to be a helpful tool in understanding unit costs and opportunities to reduce costs.
What FinHealth Can Do For Your
FinHealth 2000 is more flexible than other unit costing software packages. It allows you to choose whether to use a standardized RVU scale (e.g. RBVS or St. Anthony's) or your site's actual resource utilization data. Other software programs force you to use one method or the other. Other flexible options offered by FinHealth 2000 allow you to:
- Analyze visits and expenses by month or by year
- Input labor expenses at an employee specific level or aggregate by category
- Average fringe benefit expenses for all staff or define by level of staff and
- Print reports or export them to a spreadsheet, word processing or data format
What We Will Deliver
FinHealth is a software tool that has everything you need to calculate the unit costs of each service quickly and easily to understand how your organization's resources are used. Using a site's actual expenses, visit volumes and staffing information, FinHealth 2000 can help you to:
- Calculate estimated levels of productivity/ non-billable time by level of staff
- Recognize which operations are efficient
- Understand which factors have the most significant impact on the bottom line
- Compare operations and costs across multiple sites
- Model the impact of operation, volume, and service mix changes
- Optimize service
- Set fee schedules
- Determine utilization based capitation rates
- Generate forecasts for planning and sensitivity analysis and
- Improve the allocation and utilization of scarce resources
Cost And Implementation Support
The FinHealth software plus five hours of consulting by HealthMETRICS cost $2,000.
Cost consulting includes:
- Introduction to the concepts and features of the system
- Review of costing options and determination of which options works best for your organizations
- Advice on how to collect data necessary to cost services and
- Review of final reports