Infor Healthcare TrueCost to Track, Manage, and Reduce Labor and Supply Costs
Infor, a leading provider of business application software serving more than 70,000 customers, today announced that Community Medical Centers, the Fresno, Calif., region’s largest health care provider and private employer, has signed on as a development partner for Infor TrueCost, part of the Infor Healthcare suite of solutions. Generally available later this year, Infor TrueCost offers clinical and operational leaders near real-time, actual labor and supply cost information across the entire care continuum to help manage and reduce costs.
“Every day we face new challenges supporting the evolving environment of accountable, patient-centered care, and the shift to value-based reimbursement. Knowing we wanted to get ahead of the curve, and be able to better track and measure direct, actual, real-time patient costs in order set our organization up for success, partnering with Infor on TrueCost was a clear choice for us,” said Tim Brown, director of Business Systems, Community Medical Centers.
Infor TrueCost will deliver innovative tools with near real-time data on labor and supply costs at the patient level to help optimize the cost of care. As a result, users will be able to capture labor costs which can aid in adjusting staffing levels based on patient needs, streamline ordering and delivery of supplies, receive real-time information about patient requirements and aggregate operational and clinical data so leaders can get actionable information faster, while helping to maintain patient confidentiality by offering HIPAA-compliant data protection.
In addition, Infor TrueCost will provide analysis and risk management in a value-based environment to support the transformation to an ACO organization. Teams will be able to proactively manage patient costs with a solution that delivers actual patient and supply information directly to managers, support operational and fiscal efficiency, and help identify variations in patient care in acute and sub-acute settings.
“In order to successfully reduce cost, you first need to know where it’s coming from. Infor TrueCost offers healthcare organizations the tools to determine actual direct variable patient costs in near real-time, which ultimately helps them to focus more on offering safe, quality care to the communities they serve,” said Barry Chaiken, chief medical information officer, Infor.