Time is Money: Aurora Health’s Journey of Implementing and Advancing Cost Accounting

It’s been over a year since Aurora Health Care started one of the most efficient implementations of Strata’s Decision Support module. During the implementation Aurora not only built an improved cost accounting model, but also built an improved cost accounting process that engages a cross-functional team in cost development. Since the implementation Aurora now has more accurate and consistent cost data to inform decision making across the organization, but the work isn’t done. The next phase in advancing Aurora’s costing program is leveraging actual procedure and visit times to allocate cost. This presentation will provide a detailed view into both the implementation and future direction of the Strata Decision Support program within Aurora.

Learning Objectives:
1. Learn how one complex provider organization quickly developed a meaningful cost accounting model using Strata Decision Support
2. Understand methodologies for creating a sustainable costing program that incorporates expertise from multiple business functions
3. Learn how to take your cost accounting data to the next level by leveraging time stamp data contained in your electronic health record to more accurately allocate cost and identify variation.