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Health-Specific Cost Accounting Methods

We specialize in time-driven activity-based costing methods that provide a detailed, accurate breakdown of your true service costs.

Granular Cost Per Procedure
Unlike financial accounting, which aggregates costs, cost accounting provides detailed breakdowns for each procedure, allowing you to see exactly what it costs to deliver care at the service level.
Activity-Based Costing for Labor and Resources
Track and allocate labor and resource costs by specific activities, such as time spent in surgery or patient prep, giving you a more accurate view of operational costs.
Cost Allocation Across Departments
Cost accounting identifies and assigns costs from shared departments (like radiology or lab services) to the specific treatments or procedures that use them, ensuring every cost is accounted for accurately.
Labor Utilization and Efficiency
Analyze how labor is used in each procedure, helping to identify overstaffing or inefficient use of personnel, which is critical for optimizing healthcare’s largest expense—labor.
Identification of Cost Drivers
Pinpoint the specific activities or resources that are driving up costs, such as high labor in certain procedures or excessive use of supplies, enabling targeted cost reduction efforts.
Support for Value-Based Payment Models
Cost accounting provides the precise cost information necessary to succeed under value-based care models, unlike financial accounting, which focuses on total profit without detailing the cost of individual patient outcomes.

Optimize Labor Management

Unlock Efficiency with Labor Cost Solutions

Labor is the largest expense in healthcare. Our advanced tools ensure that your workforce is aligned with patient demand, reducing unnecessary costs while maintaining high-quality care.

Real-Time Labor Cost Tracking
Monitor labor usage as it happens, allowing you to see exactly how staff time is allocated across services. Spot inefficiencies and adjust before they impact your bottom line.
Predictive Workforce Analytics
Analyze patterns in labor costs and receive actionable insights on staffing optimization. Identify underutilized hours and fine-tune labor to match service demands efficiently.

Accurals basis, done right

Healthcare accounting isn't complicated, but it's complex.
Every month, we deliver GAAP-compliant, accural basis books
paired with easy-to-understand cash based metrics.

Revenue Recognition
We ensure revenue is recognized when services are provided, not just when cash is received, providing accurate financial reporting. Our focus on healthcare helps us manage revenue cycles and complex billing processes to capture earnings correctly.
Expense Matching
Our team aligns expenses with corresponding revenues, offering a clear picture of financial performance. Our expertise ensures accurate matching of costs like salaries, supplies, and overhead to reflect the true financial health of your practice.
Accounts Receivable Management
We track receivables from patients and insurance accurately, improving cash flow visibility and collection efficiency. We provide expert management of accounts receivable, streamlining collections and reducing outstanding balances.
Prepaid Expenses and Deferred Revenue
Proper management of prepaid expenses and deferred revenues helps maintain an accurate financial position by recognizing future obligations and payments. Our team handles these complex transactions, ensuring they are correctly reflected in your financial statements.
Compliance with GAAP and Regulatory Standards
Adhering to GAAP and healthcare regulations ensures accurate and compliant financial reporting. Our accountants are experts in these standards, ensuring your practice’s financials meet all regulatory requirements.
Accurate Financial Forecasting
Accrual accounting enables realistic financial forecasting, crucial for strategic planning and decision-making. We provide precise projections tailored to healthcare, supporting informed decisions and effective budgeting.

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