The Benefits of Activity Based Costing & The Role Technology Plays
Most healthcare providers don’t know how much it costs them to deliver care, but that’s starting to change. Several trends are hurting providers’ bottom lines, and the organizations that will survive and thrive in the long run will be those that have a true understanding of cost.
From the pandemic pressures on finances and the government’s new emphasis on price transparency to the healthcare environment’s slow but sure move to value-based care, it’s imperative for leaders to shift to activity-based costing to understand them accurately and effectively manage them to avoid losses. In this white paper, you’ll learn:
- The difference between traditional activity-based costing (ABC) and time-driven ABC
- How to automate your ABC
- How to reduce reporting time and boost finance team efficiencies in the process.