CORUS™: Activity-Based CostingManage true cost of care with manufacturing-style, activity-based costing that is scalable and maintainable.
|Type:||Software Application||Status:||Generally Available||Revised:||2018-Jun-15|
The CORUS™ Suite: Activity-Based Costing Software Application leverages the Health Catalyst® Data Operating System (DOS™) and activity-based costing to deliver accurate and actionable data. Activity-Based Costing helps users manage the true cost of care across the continuum.
Activity-Based Costing provides the following: 1) Ability to run costing cycles and review periods, 2) Configuration of general ledger, cost model, and costing categories, 3) Costing-related tasks (allocations, assignments, standard value sets, and data quality), and 4) Built-in data validation and summary reports.
Background & Problem Summary
Leaner margins and fewer resources mean you need a costing system and costing data that answers targeted questions. Old approaches to healthcare cost management are wholly inadequate for competing in the new reimbursement landscape. Relying on outdated technology and antiquated costing methodologies, traditional systems don't provide the insight leaders need to manage costs or improve quality.
Manage true cost of care with manufacturing-style, activity-based costing that is scalable and maintainable.
Based on more granular data not only from the EMR, but also from claims, payroll, and more, CORUS: Activity-Based Costing uses activities, not just RVUs, to give you an accurate, comprehensive view of all your costs. CORUS: Costing provides a streamlined interface that guides your Cost Accountants through the costing and validation process.
Benefits and Features
- Faster, more streamlined processes save time and reduce errors – The CORUS: Costing interface guides the finance team through the costing process—including validation—to save time and reduce errors
- Transparency into your costs – Integrated and aggregated data not just from your EMR—but also from clinical, financial (claims, GL, payroll, supply chain, etc.), patient satisfaction, operation, and other data sources enable you to identify actionable insights into the real drivers of cost variation
- Costing data shared with the masses – With costing data readily available, analysts can more quickly respond to financial questions and problems reported by the organization and leadership
- Cost accountants
- Department managers
- Service-line leaders
- Clinical & financial analysts
- A health system has acquired a new hospital and the cost accounting team has been asked to generate cost data for this new facility. The team can quickly configure and validate the data for the new team and run the analysis to have this facility included in the costing process in a matter of days instead of months. This gives the health system early and actionable insights into the operations of their acquisition.
A health system had been using charges as the basis of costing for the operating room. Knowing the organization now has the CORUS Suite, the operating room (OR) director wants to find out her true costs; she asks Finance to look at the integrated clinical and cost data to find the specific times and all personnel resources used in the OR during surgeries. Finance is able to use precise times and resources from the CORUS data to easily identify the true labor costs, and look at costs for supplies by linking directly to Supply Chain data sources in the CORUS Suite. Finance compares costs for each surgeon, and displays the data showing labor and supplies. One discovery is that the physician with the shortest time was using additional staff. Finance shares this information with clinical teams, who can then compare time, resource costs, and clinical outcomes to determine best practice and reduce clinical variation.
This product may leverage one or more of the following sources:
|Primary:||EMR - Clinical||See data sources of this type|
|Secondary:||Finance/Costing||See data sources of this type|
|Tertiary:||HR/ERP||See data sources of this type|
Additional Data Source Information
- General ledger (GL)
- Billing system data
- Supply chain sources (optional)
- Department-specific sources (optional)
- Web Browser
- Cost per case
- Margin per case
- Cost per patient activity
- OR utilization rate
- Variation in productivity
- Use of preferred supplies or medications
- OR turnaround time
- Reduce time to develop costing reports
- Improve the ability to identify activity-based costs
- Decrease the time to resolve general ledger, data, and other report discrepancies
- Reduce data quality errors
- Improve transparency to end users
Product ManagerSean Latimer
Product Line LeaderDan Unger
Knowledge DeveloperAmanda Flanders
Knowledge and ContentSoftware Application
Additional Screen Shots