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Managing the Cost of Care

Managing the Cost of Care
How Are Provider Organizations Tackling the Cost of Care?

Authored by: | Read Time: 4 minutes

With healthcare costs at unsustainable levels, the industry finds itself on a trajectory from fee-for-service to value-based care. Provider organizations who aren’t prepared to manage cost and take on risk while also maintaining or improving quality will have a hard time surviving. In this first-time report, KLAS takes an early look at the various ways organizations that already have a strategy are tackling this challenge and what vendors they are using or considering to help them. Interviews were conducted mainly with C-level executives, mostly from organizations with 500+ beds. Only the strategies and vendors most commonly brought up in interviews are discussed below.

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Key Topics

  1. Strata Decision Technology Continues Cost Accounting Growth; Health Catalyst Gains Attention in Evolving Area of Activity-Based Costing
  2. Consulting Firms Used More Often Than Cost Accounting Software
  3. Utilization Management Most Prevalent Reported Methodology for Managing Cost
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This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2018 KLAS Enterprises, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.