Cost of Care


Analytics-driven cost accounting for healthcare
Cost accounting in healthcare is no longer a nice-to-have. It is absolutely critical!

The quest for rigorous and accurate costing in healthcare compels providers and health systems to improve upon their cost accounting methods. One of the significant ways to achieve such improvements is by utilizing analytics to develop a better understanding of the huge volumes of cost-related data that emanates from various sources in a bid to make better informed decisions.

As pressures grow on cost containment, health care organizations do not only need to understand and manage costs, they also have to be aware of the changes in reimbursement models, as well as the increased awareness of patients on the variation in the cost of medical services across providers. Without an effective analytics-driven cost accounting initiative, making smarter decisions related to utilization, services rendered, measured outcomes, and pricing would be a tough challenge.

The uniqueness of hospital operations and data makes it quite a struggle for healthcare organizations to consistently use the appropriate costing methodologies to accurately identify cost drivers, appropriately allocate costs (including overheads) to responsible departments, and capturing the full cost of products and services. Analytics can play a key role in making these challenges more manageable.

 Leumas Solutions can help your healthcare organization leverage the power of analytics to make your cost accounting methodologies more meaningful and relevant. We have the expertise to help you develop and apply various proven healthcare cost accounting models to enable your organization stay on top of its healthcare related costs.

Now more than ever, your healthcare organization has the opportunity to optimize the use of analytics to support the rigorous and accurate costing that you desire. Learn how we can help you use analytics-driven methodologies to:

  • Utilize activity-based costing to improve the allocation costs based on the actual drivers
  • Develop customized hybrid solutions using multiple cost accounting methodologies to suit your specific scenario
  • Support standard costing procedures for routine and straight-forward costing scenarios
  • Develop a better understanding of the costs associated with patients, service lines, procedures, specialty, disease, etc.
  • Evaluate activities and processes that produce value, enhance quality, and improve outcomes













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