28 October, 2014
In a new partnership, Australian company PowerHealth Solutions is providing PowerPerformance Manager (PPM) as the costing engine to power UK company Albatross Financial Solutions’ Patient, Education & Research Costing System (PERCS) in the United Kingdom.
PERCS is a National Health Service (NHS) costing package that delivers detailed patient-level activity based costing data, including non-patient care activities such as education & research. PERCS uses a preconfigured and comprehensive costing model which meets all Monitor and the Healthcare Financial Management Association (HFMA) clinical costing standards to drive consistency across NHS Trusts.
The NHS is facing huge challenges as demand increases with population growth, as it has to do more with less. With a third of NHS Trusts reportedly in deficit, PERCS is a tool that individual Trusts can use to scrutinise their performance in order to identify inefficiencies and where improvement strategies can make the most difference.
Albatross Financial Solutions Managing Director, Dmitry Dorsky said, "PowerPerformance Manager from PowerHealth Solutions was selected as the costing engine component for PERCS due to the combination of powerful functionality, flexibility and ease of use. One feature that we were drawn to was PPM’s ability to break costs down into direct and indirect components at the resource level. Furthermore PPM’s ability to group cost areas and outputs compliments the One Consistent Model approach that PERCS delivers."
PowerPerformance Manager (PPM) is the most popular activity based costing solution in Australia, among public and private hospitals as well as State Health Departments and Area Health Services. As the PERCS costing engine, PPM will process vast volumes of data quickly to produce quick results for each Trust in a standardised format for easy comparison.
PowerHealth Solutions Europe Director, Nigel Michell said, "We are delighted to partner with Albatross in the United Kingdom. Albatross Financial Solutions are known for their financial and information management expertise with the NHS and are ideally positioned to put PPM to good work within the PERCS context."
About Albatross Financial Solutions
Albatross Financial Solutions is a UK company widely acknowledged for delivering proven NHS Financial and Information Management professional services supported by innovative solutions. Albatross specialises in patient level costing, national patient cost benchmarking, service line reporting, reference costing and integrated patient acuity monitoring systems, as well as the associated consultancy services. With an established and loyal customer base of over 200 Trusts, Albatross has a reputation for high customer care standards.