"We use Cost Accounting to measure profitability, and rely on it to make informed decisions. As a small, independent facility, it's one of the reasons we've stayed profitable, and in business."

Rob Hritz Director of Finance, Alliance Community Hospital

What makes Affinity Cost Accounting perfect for your organization?

Our Cost Accounting solution integrates with each of your clinical and financial systems, allowing you to make well-researched, cost-effective and fact-backed strategic operating decisions.

Affinity Cost Accounting interfaces to all necessary systems: ledgers, payroll, accounts receivable, electronic health records, patient billing, materials management, and so on.

What do our clients do with Affinity Cost Accounting?

Affinity Cost Accounting answers a myriad of questions for our clients.

Here’s a sample:

  • How are we performing on a particular service? e.g. “Are we making money on this ortho service?”
  • Which of our physicians are most cost-effective for certain services?
  • How much money are readmissions costing us?
  • Our insurance provider is pushing a capitated model—we are intrigued, but will we lose money?
  • Which DRGs are profitable?
  • If we eliminate our clinic, will we lose revenue downstream?
  • If we assume a 6% increase on the new union contracts, how can we still afford the equipment needed in radiology?
  • Can we justify the more costly shoulder prostheses some of our surgeons prefer by linking it to better patient outcomes?

Get Departmental Definition

Affinity Cost Accounting provides users complete control over departmental costing and reporting requirements, whether inpatient or outpatient. The solution supports multiple costing methods allowing you to use different cost factors such as self-generated RVUs, national RVUs, RCCs or engineered standards. We use the Simultaneous Equation Allocation Method, or SEAM (vs. the step-down method) which allows cross-allocation between departments and provides full overhead costs of all departments, revenue and overhead.

Use Data Modeling for Predictive Analysis

Affinity Cost Accounting includes powerful and practical utilities to ensure that your organizational needs are met, but also that the value of every procedure, every process, every decision is fully understood. All expenses and revenues are accounted for and reported on. Further, our modeling features allow you to quickly modify large amounts of data—easily forecasting change impact and the associated pros and cons.

You can:

  • Import assumptions between datasets
  • Conduct full data analysis to find discrepancies and keep your data reliable
  • Define and modify assumptions to evaluate the impact of facility changes such as inflation, new services, equipment purchases, pay raises, etc.
  • Modify charge item data to forecast changes to pricing, payor mix (Medicare, Medicaid, etc.) or volume fluctuations
  • Create reports for revenue, department and facility reconciliation
  • Build and maintain costing task lists and check off items as you go

Best Practice Reporting

The detailed reporting available with Affinity Cost Accounting ensures informed, productive and cost-effective clinical and business operations. We provide an impressive array of fundamental best practice reports. As a standard, these include:

  • Summary reports for upper management review
  • Departmental reports to make managing department costing a breeze—includes income statements, overhead analysis, and many others
  • Item and product reports, available by charge item, APC, and CPT with multiple sort and categorize variations
  • Patient reporting by financial class, patient type, DRG, ICD, doctor, surgeon, insurance, service type, product group or any demographic loaded into the system

All Affinity Cost Accounting reports can be quickly reviewed on screen, printed or downloaded. Files can be easily emailed, scheduled and automated to department managers or directors.

Ready to make informed decisions to improve your bottom line? See the difference we can make by contacting us today!