A latest suite of software from data analytics vendor Health Catalyst is developed to aid chief financial officers, physicians and clinical/financial analysts to better understand the real cost of giving care across the healthcare continuum and relate the costs to sufferer outcomes.
The CORUS Suite offers a picture of what it costs to give care down to the granular level of how many minutes a nurse spent in the operating room during a surgery, or the financial and clinical outcomes of a surgeon’s processes in contrast with those of other surgeons.
“Never in the history of U.S. healthcare has precise cost accounting been more significant than it is right now, and that significance will just grow in the coming months and years, as operating margins sustained to be squeezed,” claims Dale Sanders, executive vice president at Health Catalyst.
The suite supports integration of electronic health records (EHRs) data at patient clinical and operational levels along with departmental and equipment utilization information to give a comprehensive view of the cost of patient care.
Embedded costing information involves best practices, rules and algorithms from academic hospitals to support cost management transformation.
Moreover, the suite supports more than 160 source systems involving the EHR, claims, general ledger, payroll, supply chain and patient satisfaction metrics, according to the vendor.
CORUS has 2 integrated product lines: Activity-Based Costing and Cost Insights. Activity-Based Costing identifies activities and assigns the cost of each activity based on actual consumption of resources and materials.
Cost Insights observes and delivers actionable information through dashboards customizable to the end user role and purpose to access to the most granular level of activity and costing data for all sufferers.
Professional financial, operational and clinical consulting services also are available.