Time Factor capability added to ADS Activity-Based Costing Method
Wakefield, MA, February 10, 2022 – Harris Affinity (Affinity) is proud to announce the latest innovation in Activity-Based Costing (ABC). A new “resource intensity” element has been added to patient utilization and charge item records. This greatly improves the accuracy and specificity of staff and labor related cost insights while reducing overall maintenance of the decision support system.
“Historically, users would have to use the patient-level quantity field in conjunction with the separate Relative Value Unit (RVU) table to achieve Activity-Based Costing. With the new Time Factor field, the ABC method reduces/eliminates the RVU table maintenance,” stated Nikhil Bhatia, Vice President of Research and Development. “Instead of maintaining the separate RVU table, the resource intensity values will be extracted directly from the source system as part of the utilization (or charge item) extracts, saving users time and improving the usability of ADS.”
The RVU method, which is a common costing method in many Decision Support systems, limits a cost model to a single value per product. The improved capabilities of this solution provided by these labor costing enhancements help users to provide more precise information and a granular understanding of true labor costs while reducing the time spent maintaining their data.
For more information on this new labor costing feature, please see our Solution Brief.
ABOUT HARRIS AFFINITY
Harris Affinity (Affinity) is a worldwide provider of software solutions to help healthcare organizations optimize the financial potential of their facilities and services. Through integrated and standalone solution options, Affinity’s flagship product offerings combine sophisticated cost accounting and contract modeling, budgeting, and financial planning, and analytic tools to deliver the financial details healthcare providers need to support the sustainability of the organization. Harris Affinity, a wholly-owned subsidiary of N. Harris Computer Corporation, is headquartered in Wakefield, Massachusetts with licensed systems for use at more than 350 hospitals worldwide.