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Prioritizing cost management at U.S. healthcare systems: keys to better margins

The U.S. healthcare system, already burdened with high costs and excess treatments, faces increased challenges due to Covid-19. In response, a process improvement methodology called a value creation framework is suggested. This relies on data and analytics to improve margins and reduce waste. Addressing charge capture leakage is essential, necessitating new technologies, while traditional cost management methods are inadequate. Instead, a shift to activity-based costing (ABC), utilizing detailed data for precise cost allocation, is recommended for better decision-making and more efficient resource use.

Source: www.healthcareitnews.com –

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