Total Control Over Your Unique Costing Needs
Affinity ERP Cost Accounting is designed to simplify, streamline, and thoughtfully automate your organization’s cost management requirements. Our Cost Accounting solution integrates with and reports on data from clinical and financial systems allowing healthcare professionals to make sound, cost-effective operating and strategic decisions.
Working with your organization’s costing data requires soundly-designed, flexible utilities: data auditing, import/export, and more. Affinity ERP Cost Accounting is flexible and easy to use, and comes loaded with powerful and practical utilities to ensure your organizational needs are met.
What is Cost Accounting?
Cost accounting is the process of determining the full and incremental costs of providing goods and services to patients and customers. To make sound management decisions, all costs must be known at the procedure, patient, and department levels. This includes costs for departments that do not provide direct patient or customer services but are absolutely essential to the operation of your organization.
Costs may be determined based on historical methods of charging for services, such as patient days and procedures. Products or product lines may also be defined for cost analysis, such as DRGs or a specific type of day surgery patient. Knowing the cost of each procedure and major product line is essential to financial stability of every healthcare institution.