How to secure healthcare cost calculations and bring structure and clarity to price lists with LOGEX Costing
Like many healthcare providers, the Örebro Region Laboratory Medicine Clinic found working with manually calculated price lists a real challenge. Particularly when it was not always clear how historically calculations were made and what costs were included. With the introduction of the LOGEX Costing solution, it is now much easier to work with (and calculate) price lists.
By using the LOGEX Costing solution, the Örebro Region’s Laboratory Medicine Department team is now able to quickly calculate costs prices for all their services. It also means they can easily update prices without having to redo the entire data gathering and calculation process.
Magnus Palm, Business Controller at the Laboratory Medicine Department in the Örebro Region and the manager of this project: “We want to be able to produce reports that form the basis of our price lists, bring clarity to why the prices are the way they are,” he says.
“We want to be able to produce reports that form the basis for our price lists, bringing clarity to why the prices are the way they are,” says Magnus Palm, Business Controller at the Laboratory Medicine Department in the Örebro Region and project manager for this project.
The value of accurate cost calculations
The clinic has already implemented the LOGEX Costing solution for its clinical chemistry and transfusion medicine disciplines and will soon add pathology and microbiology.
During that process, Heads of Departments and Process Managers provide a wide variety of information as well as verify that calculations consider all direct and indirect costs.
Most of the work in the project is done by two LOGEX consultants, together with Magnus Palm as the project manager from the region.
“There is a high interest in the project, both at the operational and the management level,” says Magnus. “The process managers do time and material estimates, which is a job they have to do next to their regular work, but everyone sees the benefits of getting clarity and structure in the cost calculations, for once and for all. You can’t use old, indexed prices forever, and manual calculations in Excel are labour intensive and bring on risk of manual errors or missing something.”
Flexibility is built-in
LOGEX Costing is a cloud-based solution that brings together data from various systems: from medical record systems to patient lists and from HR to purchasing systems. It is used for reporting in-patient care to the SKR and monitoring operations, as well as in clinics that do in-house billing and need to make cost calculations based on real data.
LOGEX Costing is a very user-friendly and intuitive solution.
Magnus Palm, Business Controller, Region Örebro
“It is a very user-friendly and intuitive solution,” says Magnus Palm. “It’s adapted to how we work with costing, so it matches the flow of our work. It gives us an unparalleled insight into all costs included in our cost prices. My feeling now is that it won’t be a problem for me to make yearly updates.”
Costing
Gain more grip and control to further improve financial and operational results. Our next-generation activity-based costing technology includes a state-of-the-art online application, an experienced support team and powerful benchmarking and reporting possibilities.
Make cost calculations for healthcare providers that are easy to understand, apply, and optimize.
Allocate resources and costs to patients, care activities and episodes.
Benchmark unit costs with national and international peers to identify areas for improvement.
Deliver information to national regulators automatically and in full compliance with National Cost Collection requirements.
Futureproof decision-making
Jan Forslid, the Head of Operations at the Laboratory Medicine Clinic, is also pleased with how the work is progressing. “The LOGEX consultants have shown amazing commitment while analysing our costing data, which is a crucial factor in meeting our cost control goals,” he says.
LOGEX and the Laboratory Medicine Clinic expect that all internal price lists and cost calculations will be based on actual data by mid-2022. This will allow Magnus Palm, Jan Forslid, and the rest of the organisation to get the clarity needed to make decisions they can stand by, with impact you can measure.