THE INTRODUCTION:
The company in question is one of India’s largest healthcare organisations, listed on NSE and BSE. They offer treatment across all 29 health specialities and operate in homecare and pathology businesses.
THE PROBLEM:
A hospital renders services that are both tangible and intangible, and hence gauging accurate cost against such services becomes a daunting challenge. In addition, a significant portion of the cost chunk in a hospital is indirect (approximately more than 40%). Therefore, accurately assigning costs to various procedures, specialities, patients, etc., becomes cumbersome.
THE SOLUTION:
To develop a structured costing decision support system that seamlessly integrates its Administrative, Technical and Financial Information Systems, enabling the creation of timely and effective operational/ financial insights. To this end, the following accurate cost/ profitability reports should be generated on a real-time basis:
Patient-wise/ Bill-wise
Diagnosis Related Group (DRG)-wise/ Speciality-wise (Neurology, Cardiology, Nephrology, etc.)
Package-wise
Procedure-wise
Doctor-wise
Key Infrastructures - Intensive Care Unit (ICU), Operation Theatres (OT), Ward-wise (OPD, IPD, etc.)
Lab Testing Services-wise (Radiology, Pathology, Blood Bank, etc.), etc.
THE RESULTS:
After rigorous deliberations and continuous collaboration with the client for over six months, our Chandra Wadhwa & Co. team implemented a detailed costing decision support system that integrated and generated data from 6 systems. This helped us not only to derive profitability for the above-mentioned key metrics but also assisted in achieving excellent results in the following domains:
