The MAGIC-Based Costing software program is a computer-based decision-support tool that integrates a healthcare facility's financial and clinical databases. Its architecture by clinical activity sector facilitates the breakdown of costs by expense center, thereby making it easier to identify potential areas for improved performance.
The MAGIC-Based Costing solution generates relevant decision-making information, such as:
By virtue of its structure, the MAGIC-Based Costing software system mimics and accommodates a facility's entire financial architecture. It can provide continual validation of the financial and statistical data included in government reports, such as the AS-471 and AS-478 reports in Quebec.
In an effort to achieve continuous improvement, MédiaMed Technologies has created a MAGIC-Based Costing Users' Club that provides members with a method for comparing the clinical and financial performance of their facility.