Management Health Solutions Launches Case Cost 360™
Stratford, CT – March 2, 2017 – Management Health Solutions, Inc. (MHS) announced today the introduction of Case Cost 360™, a clinical operations decision support solution featuring software that captures and analyzes procedural costs at a level not currently available in a single system. Case Cost 360 tracks full supply and product utilization:
- in real-time
- throughout the surgical workflow, including at point of use
- by procedure, by physician
The solution combines mobile case cart and point of use utilization software with an analytics workbench that provides users a steady stream of insights from the MHS analytic engine.
Case Cost 360 delivers evidence from detailed cost variance analysis enabling management decisions that realize major cost reduction and operational improvement opportunities in:
- Preference Card Optimization. Changes to individual physician preference cards create significant reductions in waste, loss from expired product, OR nurse and tech time, and surgery delays.
- Physician Preference Standardization. Data-driven benchmarking drives standardization of products and processes across physicians. That further reduces costly practice variation in preference card items, implants, and physician preference items not on cards.
- Case Level P&L. MHS is refining its analytics to meet the widely-desired ultimate objective of constructing a true picture of individual case profitability – a powerful tool to develop improvement strategies.
“The demand for significant cost savings among healthcare organizations is accelerating,” said Brian Campbell, President & CEO, Management Health Solutions. “Procedural cost control offers fertile ground to realize substantial savings and efficiencies. The materials management, operating room, and electronic health record systems relied upon today are generally not capable of providing the comprehensive, granular data analytics needed. Our combination of technology and on the ground inventory valuation services makes MHS uniquely qualified to help customers tap the enormous savings potential.”
The clinical operations decision support solution derives its power from what MHS terms Procedural Cost Understanding based on data that adheres to four fundamental, essential requirements:
- Granular –gathered at the per-procedure, per-physician level.
- Timely - captured near real-time in a streamlined, efficient way that does not burden OR/Supply Chain labor or unduly interfere with surgical workflow.
- Comprehensive – across multiple dimensions: medical specialties, types of procedures, relevant cost inputs, and more.
- Consistently accurate – using automation and reliance on standardized coding structures such as ICD-10 and UNSPSC.
Several customers have deployed Case Cost 360 and effectively identified millions of dollars each in procedural cost savings. More information is available at www.mhsinc.com/case-cost-360/
About Management Health Solutions
Management Health Solutions is technology and services company offering solutions that give customers a unique Clinical Operations Decision Support system. Through capture and analysis of comprehensive procedural utilization data, healthcare providers gain insights they need to reduce spend and drive efficiency in clinical operations. The company builds its solutions by combining advanced technology with a modular suite of on-the-ground outsourced and advisory services in procedure cost management, master data management, and inventory valuation.
MHS’s recently introduced Case Cost 360™ is the flagship analytics product generating sophisticated procedural cost understanding. The company’s mobile technology is deployed in hundreds of hospitals and integrated delivery systems from the warehouse floor to the operating room. As the premier provider of med/surg and pharmacy inventory valuation services, MHS provides accurate and auditable results for over 500 healthcare organizations annually. Learn more at mhsinc.com.
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