Business Objects, a leading provider of business intelligence (BI) solutions, announced the availability of BusinessObjects Activity Based Costing for Healthcare. Built using Business Objects planning technology, this new performance management application enables healthcare organizations to identify and analyze trends in key clinical and financial indicators across patient groups. Using these trends, health care organizations can more easily formulate strategies that drive improvements in operational and financial performance. For health care organizations to plan effectively, they need a way to accurately assign costs, typically stored in summary form on their general ledger, to the specific tests and procedures used to care for patients. BusinessObjects Activity Based Costing for Healthcare delivers a sustainable framework for collecting and reporting timely, accurate, and reliable costing data. The solution helps organizations compute costs and margins on a per-patient basis to allow them to more easily analyze the information by physician, across service lines or by HMO contract to identify trends in volume, cost, and margin. This innovative application enables clinical managers to better understand and manage the costs associated with patient care and provides health care executives with performance reporting and dashboards that support improved strategic and operational decision-making. For example, a hospital network could use the application to identify that it is more cost-effective to service particular cardiac patients at a specialty clinic with comprehensive cardiac services, than it is at the main hospital. By shifting patients seen more regularly to these clinics, the healthcare network could save money while increasing the level of service it provides patients.
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