MAGIC-Based Costing Module (activity-based costing)

"To determine the actual or simulated cost per episode of care for a facility"

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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:

  • Cost by case, activity sector, episode of care or program
  • Cost of non-quality
  • Budget planning
  • Activities with little or no added value
  • The relationship between the cost of an activity and its funding, particularly with regard to surgical cases
  • The relationship between resource utilization and the facility's case mix
  • The simulated financial impact of a change made in clinical practice or work organization.

 

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.

MAGIC-Based Costing Users' Club

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.


More Information
Regional Manager/Performance Solutions
Dan Chiasson
Phone : 647-969-7863
Email : dchiasson@mediamedtech.com