Infor Healthcare TrueCost to Focus on Direct Variable Patient Expenses, Reduce the Cost of Care
NEW YORK - Feb 24, 2014
Infor, a leading provider of business application software serving more than 70,000 customers, today announced Infor Healthcare TrueCost, part of the Infor Dynamic Enterprise Performance Management Suite and Health 3.0 initiative. Expected to be available later this year, this solution is designed to help solve the cost crisis in the era of healthcare reform and value-based reimbursement. Infor Healthcare TrueCost will leverage Infor's unique understanding of healthcare business processes and ability to leverage clinical and operational data to help organizations more accurately measure and track cost across the continuum of care. Infor Healthcare TrueCost is designed to deliver fast, innovative tools to empower health system leaders with actionable data at the point of decision to proactively support workflow and process improvement in near real-time.
Built to accurately capture direct, actual costs at the patient level, Infor Healthcare TrueCost consolidates cost information across an episode of care, so that organizations can truly understand what it costs to deliver care. The solution combines unique technology with unsurpassed clinical and operational data integration and sophisticated analytics to help organizations improve operational and fiscal efficiency while delivering clinical excellence. This solution will allow decision makers to analyze and manage risk in a prospective payment or ACO environment, identify patient care variation in both acute and sub-acute care settings, and support the evolving environment of value-based reimbursement and patient-centered care.
In addition, Infor Healthcare TrueCost lets organizations more effectively analyze care delivery across departments and facilities by combining disparate data sources including Human Capital Management and Supply Chain systems, Business Intelligence platforms, Electronic Health Records and other clinical systems. By engaging in more detailed analysis to facilitate more effective management of an organization, Infor believes organizations can improve clinical and financial outcomes.
"Value-based reimbursement challenges the economic assumptions healthcare organizations relied upon for decades, and cost accounting solutions available in the market today will not be able to support the evolving environment of value-based reimbursement and accountable patient-centered care," said Barry Chaiken, chief medical information officer, Infor. "Infor is developing this solution to help combat the complexities associated with delivery and completely transform the financial side of healthcare with accurate measurement and reporting."
Infor is fundamentally changing the way information is published and consumed in the enterprise, helping 70,000 customers in more than 200 countries and territories improve operations, drive growth, and quickly adapt to changes in business demands. Infor offers deep industry-specific applications and suites, engineered for speed, and with an innovative user experience design that is simple, transparent, and elegant. Infor provides flexible deployment options that give customers a choice to run their businesses in the cloud, on-premises, or both. To learn more about Infor, please visit www.infor.com.
Infor customers include:
19 of the top 20 aerospace companies
12 of the top 13 high tech companies
10 of the top 10 pharmaceutical companies
21 of the 25 largest US health delivery networks
16 of the 20 largest US cities
84 of the top 100 automotive suppliers
31 of the top 50 industrial distributors
5 of the top 9 brewers
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