Memorial Healthcare System to implement ExactCost Cardiovascular Service Line

Oct 30 2010

ExactCost, Inc., a technology company that provides activity-based costing and performance management software solutions for the healthcare industry, today announced that Memorial Healthcare System, headquartered in Hollywood, Florida, has signed a multi-year license agreement to implement the ExactCost^® Cardiovascular Service Line.

“Through the use of the ExactCost software tools, we will gain insight into our Cardiology workflow processes by each activity - from diagnosis, to treatment, to rehabilitation.”

"ExactCost's activity-based, healthcare performance software serves as both a clinical and financial tool that will enable us to quantify ongoing efforts and help manage our costs," states Matt Muhart, Chief Financial Officer, Memorial Healthcare System. "Through the use of the ExactCost software tools, we will gain insight into our Cardiology workflow processes by each activity - from diagnosis, to treatment, to rehabilitation."

ExactCost develops performance management solutions based on activity-based cost analysis and activity-based management for the healthcare industry. One of the implications of the new healthcare reform law is that now more than ever healthcare organizations must know their exact costs in terms of their activities and clinical procedures.

The adoption of ExactCost's Cardiovascular Service Line at Memorial Healthcare System will provide the basis for enabling this hospital network to migrate from traditional financial methods to activity-based methods - a core competency of ExactCost's solutions. Memorial Healthcare System will utilize the ExactCost Cardiovascular Service Line for process improvement, to decrease costs and to further enable quality of care by enhancing internal efficiencies.

"We are very pleased that Memorial Healthcare System has chosen ExactCost Software Solutions," comments Ilan Mintz, President & CEO, ExactCost, Inc. "With ExactCost's solutions, healthcare organizations use activity-based costing to achieve increased visibility needed to realize internal efficiencies and to improve performance in a sustainable way - a fundamental priority of any healthcare provider."