Cost to Cash AnalyticsTM

How To Measure Cost of Care?

Every healthcare provider has to be financially healthy to deliver healthy patient outcomes. With daily regulatory uncertainty, payment caps and cuts, providers are forced to look internally on how to minimize the cost of care to stay viable. Without a net margin, providers can’t fulfill their mission – at least for not a long time.

Hoap Health’s Cost Intelligence solution addresses a tough challenge faced by providers – what’s the cost of care per visit and how can we improve the net revenue with the same level of care?

Cost Intelligence solution gathers, normalizes and connects the cost data points across the entire patient life cycle from pre-patient care, patient care, care coordination, discharge, to billing and reimbursement. With visit level analytics, providers can compare the cost, charge, cash, and denials to assess whether the encounter was profitable. Empowered with this rare visit level actionable insight on a net revenue per visit, Providers can identify and address issues at every touch point of the patient life cycle from cost of supplies, drugs, coding, billing, charges, to denials and adjustments. Profitable departments, case types, and physicians can be encouraged while corrective course of action are set up for under-performers.

  • Include all the fixed and variable resources consumed to provide care
  • Connect all the dots: supply & drug costs, service cost, charges, payments (payer & patient), denials, adjustments and write-offs
  • Cost vs Charge vs Cash per episode

Providers can make informed decisions on how to optimize cost, plug revenue leakages, and improve outcomes.

Key Features & Benefits:

  • Longitudinal view of the full life cycle of an episode – financial, clinical, and operational – level
  • Integrates pharmacy, and supply costs, charges, remittance, denials, and audit
  • Creates a linear patient record across all care providers for HIEs & ACOs
  • Links Item Master with Charge Master and Remits to provide Cost, Charge, Cash @ Line Item Level per encounter
  • Aggregation at many levels – physician, department, procedure, location, time – with multi-dimensional analysis at any touch point of an encounter
  • Enables care coordination between different phases of a care and departments
  • Provides insight on costs savings, revenue leakage and recovery opportunities
  • Establishes a data-driven defensible pricing strategy based on acquisition costs
  • Highlights high cost – money losing items & suggests “like” items

Bottom Line:

Cost Intelligence provides hard to obtain insight on total cost of care and net revenue per visit leveraging proprietary analytics platform. With analytics across any touch point of a patient life cycle, Providers can optimize costs, improve efficiency, maximize net revenue and deliver better patient outcomes. Net Revenue gain is in our DNA. Click here and find out how !!