Topmed is an innovative-focused entity that empowers the Healthcare and Wellness Industry.
Topmed Financial Suite helps healthcare organizations improve cost visibility, profitability analysis, pricing decisions and executive financial performance monitoring. It combines healthcare-focused analytics, activity-based costing models and decision-support dashboards, built for hospital and clinic leadership.
Most healthcare organizations hold cost data across the HIS, ERP, billing, finance and a stack of manual reports. Leadership still cannot say with confidence what a service costs, which services make money, and whether prices reflect either. Topmed Financial Suite turns that scattered data into financial and operational insight that supports better decisions.
of those responsible for delivering care do not know what it costs
of hospitals and health systems have advanced cost accounting that produces accurate cost data
of healthcare organizations still cost services with the ratio of cost to charges
of ABC adopters say it gives more useful information for process improvement than conventional accounting
Figures come from published US surveys and are quoted to show the scale of the gap. Full references at the foot of the page.
A structured costing cycle turns fragmented operational and finance data into a reconciled, repeatable decision model, built on data you already hold.
HIS or EHR, finance, HR and payroll, supply chain and activity data, mapped source to cost under agreed governance.
Define cost pools, cost drivers and direct and indirect allocation rules that reflect how resources are really consumed.
Calculate patient and encounter cost, reconciled to the general ledger, with drill-down to activity and procedure.
Use profitability, pricing, variance and benchmark insight to decide what to grow, fix, reprice or reconsider.
Reconciled to the general ledger, with drill-down from the hospital total to the individual patient.
Hospital › Service line › Department › Physician › Procedure › Patient
The questions we help answer, and the view you get in return.
A measured cost for each service, procedure and patient, overhead included.
Margin by service line, department, physician and payer, refreshed on a schedule.
Price lists, packages and payer negotiations grounded in cost floors and margin data.
A measured cost for each service, procedure and patient, overhead included.
Margin by service line, department, physician and payer, refreshed on a schedule.
Price lists, packages and payer negotiations grounded in cost floors and margin data.
Variation between physicians, sites and pathways becomes visible and quantified.
One view of cost, profitability and operational performance for the board.
Cost paired with outcome data, so quality projects show what they saved.
Variation between physicians, sites and pathways becomes visible and quantified.
One view of cost, profitability and operational performance for the board.
Cost paired with outcome data, so quality projects show what they saved.
One screen for cost, margin and the drivers behind them, with drill-down to procedure and patient.
Illustrative visual with sample data. Layouts and metrics are configured to each organization’s structure and data.
A thirty-minute call with our financial analytics team. Bring one service line or payer contract you are unsure about, and we will show you what the model would reveal and what it takes to build.
Sources: HFMA and Strata Decision Technology, L7 Cost Accounting Adoption Model · HFMA and IMA, Costing Practices in Healthcare Organizations · Becker’s Hospital Review, Healthcare cost accounting: preparing for the future.
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