CostFlex Systems, Inc.’s Post

The U.S. Department of Health and Human Services has healthcare specific cybersecurity resources available. CMS also has resources available. The focus is that cyber safety is patient safety. #CostFlex #hospitaldecisionsupport #costaccounting CostFlex offers on-site as well as cloud-based hospital decision support software. www.CostFlex.com https://hhscyber.hhs.gov/

Some of the five trends that Definitive is watching are: 1) artificial intelligence & the role in predicting analytics & helping with cybersecurity 2) life science companies and D2C strategies for medicines like GLP-1s 3) Mental health clinics in the urgent cares 4) non-opioid therapies and 5) medical cost growth reaching highest level in 13 years. Costs are due to rising supplies and labor. Healthcare will need cost management strategies. #CostFlex #hospitaldecisionsupport #costaccounting Let us know if we can help with your decision support software needs at www.CostFlex.com https://lnkd.in/g9pQ4qFh

September saw a decrease in travel nurse pay according to data from Vivian, a healthcare career marketplace. The decrease is .24 percent since August and down 4.58 percent from last September. #CostFlex #hospitaldecisionsupport #costaccounting On average labor is 60 cents per every dollar of costs. Let us know if you need help with cost accounting software. We offer on-site decision support services. www.CostFlex.com https://lnkd.in/gQFyMscP

America’s Cybersecurity and Infrastructure Security Agency has declared October to be Cybersecurity awareness month. There are free resources available to rural and community hospitals along with free webinars starting tomorrow October 2, 2024. Make sure to review the 4 tips from the Agency to enhance your cybersecurity measures. #CostFlex #hospitaldecisionsupport #costaccounting www.CostFlex.com https://lnkd.in/eU_sZX28

Walmart is retreating from open health clinics due to disappointing results. Walgreen’s is also planning on closing its VillageMD primary care clinics in 160 locations due to Medicare reimbursement. The retailers see the health care delivery as unprofitable, and the AMA is pushing for Medicare reform citing unsustainability for the physicians. #CostFlex #hospitaldecisionsupport #costaccounting Make sure you are reimbursed properly. CostFlex’s Payer Contract Analyzer automates 100% of all reimbursement contracts (including government). https://lnkd.in/de3-ZiCR https://lnkd.in/g_hNiC6W

On September 20,2024 the FTC brought a lawsuit against Caremark RX, Express Scripts and OptumRx and their affiliated GPO’s alleging unfair rebating practices that have artificially inflated drug prices for insulin. The average list price in 1999 for Humalog manufactured by Eli Lilly was $21. By 2017 the list price was $274. The lawsuit also alleges certain drugs being excluded in exchange for formulary placement. #CostFlex #hospitaldecisionsupport #costaccounting Has your hospital’s pharmacy been overcharged? CostFlex is a healthcare decision support software company designed for all healthcare provider types. www.CostFlex.com https://lnkd.in/ekdA45j4

A recent analysis found that in the month of June 2024 medical prices grew 3.3% more than the previous year, higher than the 3% overall inflation rate. This is the first month since 2021 that medical care has been higher than overall inflation. The analysis was based on the consumer price index (CPI), producer price index (PPI) data for the Bureau of Labor statistics, and personal consumption expenditures data from the Bureau of Economic Analysis. #CostFlex #hospitaldecisionsupport #Costaccounting Understanding where you are making or losing money is critical to any organization. CostFlex is healthcare specific and offers a total cost accounting software suite. www.CostFlex.com https://lnkd.in/gekKjY6s

A study in the Journal of General Internal Medicine found that a significant amount of time is being spent by physicians across all specialties in mandatory clerical work for EHR. Physicians with the highest times were Infectious disease, Endocrinology, Nephrology, Primary Care and Hematology. The time is being spent on documentation, chart reviews, orders and inbox management. Dr. Sinsky said in the study that physicians are spending personal time for EHR work which is uncompensated labor and possibly leading to burnout. #CostFlex #hospitaldecisionsupport #costaccounting Are you calculating your physicians’ costs? CostFlex provides financial decision support software for all healthcare provider types. costflex.com https://lnkd.in/ggqnfGJF

According to Mercer’s “Health and Benefit Strategies for 2024” report there is a growing trend in employers interested in offering deductible-free health plans. Health Care Service Corp is introducing a new plan available on Dec. 1 that will offer no deductibles and in California the state’s ACA marketplace will eliminate deductibles for certain silver ACA plans. #CostFlex #hospitaldecisionsupport #costaccounting If you need help with modeling contracts, we are here to help! www.costflex.com https://lnkd.in/gCp7TzdT

Fitch ratings reports are showing that fewer workers are quitting and there has been a slowdown in contract labor. Hospitals have increased their payroll and increased wages which has resulted in a more predictable monthly expense and improved organizational culture. #CostFlex #hospitaldecisionsupport #costaccounting CostFlex has benchmarking available for hospitals curious as to whether their labor costs are in line with others. Typically, labor costs are at least 60 cents of the dollar. www.CostFlex.com https://lnkd.in/gmvvj7EE