NEWS

Harris Affinity Provides Costing as a Service for Hospitals Overwhelmed by COVID-19
May 5, 2020

Harris Affinity has a 25-year track record of providing accurate cost accounting to the healthcare industry. Learn how our cost accounting services can help you cut labor costs without losing access to vital financial information and historical data.

You’re a hospital CFO facing the unprecedented reality of a global pandemic that effects every aspect of your business. You’re in triage mode, trying to help as many patients as possible while facing a shortage of vital supplies like Personal Protective Equipment (PPE) for your essential workers, ventilators for the seriously ill and managing a massive uptick in volume that’s never been seen before. You’ve thrown your 2020 budget out the window due to the crisis; you’re in survivor mode. The situation continues to change rapidly and you’ve been forced to furlough non-essential positions in administration and finance. But you’re still responsible for understanding the financial costs of treating COVID-19 patients and how those related expenditures affect all departments. You need a full grasp of the financial situation in your environment in order to make the best decisions possible and remain a financially viable organization both now and in the future. That’s where Harris Affinity Decision Support (ADS) comes in.

Mitigate Chaos with an Effective Decision Support System

Harris Affinity has been providing decision support and cost accounting solutions to the healthcare industry for the past 25 years. Its flagship solution, ADS, helps hospital CFOs like yourself gain clear visibility into key volume, cost and profitability across the continuum of care. Without an effective Decision Support System (DSS) in place, you run the risk of erroneous charges, duplication of charges, inaccurate estimates of supply and the like. Such chaos can be mitigated by analyzing the data and making necessary adjustments to help tomorrow run a bit more smoothly, at least in the financial arena. However, with much of your administrative staff on furlough and COVID-19 patients tumbling through the door, who has time to sit down and analyze a financial report? Harris Affinity can do the work for you with its cost accounting services, which may help save money both now and in the future.

Save Money with Cost Accounting as a Service

Instead of having to hire, train and employ a full-time cost accountant to run the necessary costing reports from your facility’s DSS, why not have the experts of that DSS do the reporting and analysis? Not only does this save your hospital a significant expense by eliminating an FTE, it maximizes efficiency by smartly using available resources, which provides peace of mind. Outsourcing cost accounting services is a huge cost-saver in an environment where every penny counts. It allows you to cut labor costs for non-essential positions so that doctors and nurses can remain on the front lines, where they are needed most. It also maintains access to vital financial data like current and projected operating costs, modeling and budgeting along with the historical data needed to identify trends and patterns that could help shape plans for the future. Take a look at our ROI calculator.

Benefits of Costing as a Service

When your hospital engages with Harris Affinity’s cost accounting services, you receive:

  • Necessary financial reports and data analysis used for better decision-making at a reduced cost
  • The ability to cut labor costs for non-essential positions without losing out on vital information
  • Visibility into current cash flow management along with projected revenues and costs
  • A big-picture view of hospital financials for accurate, data-driven decisions
  • Peace of mind knowing your facility’s cost accounting needs are satisfied by experts

About Harris Affinity

Harris Affinity, with licensed systems for use at more than 240 hospitals across North America, has a 25-year track record in providing decision support and cost accounting solutions to the healthcare industry. Harris Affinity consultants understand the challenges of hospital staffing, administration and system migration because many have worked in a hospital environment. In fact, its professional services team has 125 years of combined experience. Contact us to engage with our cost accounting services.