KREG’s Unit Cost Accounting and Ongoing Maintenance
Our experienced cost accounting consultants have worked on a daily basis with all different sizes and types of hospitals over the past 15 years to help them develop accurate, reliable unit costs for every item in the charge master. We also provide a unique outsourcing option that many of our recent clients have elected to use.
We have found over the years that cost accounting is one process that lends itself very well to outsourcing. It requires a unique knowledge of hospital operations and finance so you can ask department managers the right questions to get to the necessary information. Our experienced consultants will bridge the gap between Finance and the operational departments to gather, review and analyze this critical data with the end result being accurate costs for 100% of the items in your charge master.
We can provide the initial unit cost development for all departments and charge items in conjunction with the system implementation. We can then come back on a quarterly, semi-annual or annual basis and update these unit costs for you. We also offer an option to work closely with your internal cost accountants on three departments to train them on the Cost Accounting Analytics system and process and then your cost team completes the remainder of the departments on their own. In other words, we customize the unit cost development process to meet your specific organization’s needs.
At KREG we combine the capabilities of our state-of-the art decision support technology with the experience and expertise of our Strategic Services consultants. Our professionals bring over 45 years’ experience in healthcare to your engagement. They have completed hundreds of cost development engagements in an effective and efficient manner and our proven cost implementation process will be customized for your organization. They have the tools and skills to review your data and find inconsistencies that may normally escape detection such as lost charges or ‘unofficial’ inventories.