As we celebrate the Memorial Day Holiday, CostFlex would like to recognize the men and women who died while serving in the United States Military. We are thankful for the liberties and freedoms that we have today.
Five Facts about Memorial Day
  1. In December 2000, the National Moment of Remembrance Act was signed. The Act encourages every citizen to pause for one minute beginning at 3 p.m. local time on Memorial Day to "honor the men and women of the United States who died in the pursuit of freedom and peace."
  2. It is believed that Memorial Day is celebrated in late May since flowers would be in bloom across the country and fresh flowers can be placed on the graves.
  3. The oldest, continuously running Memorial Day parade is located in Ironton, Ohio. It began in 1868.
  4. "Taps" was an adaption of the Civil War bugle call "Scott Tatoo" which meant lights out.
  5. In 2020, the American Automation Association (AAA) did not release its annual travel forecast for Memorial Day 2020 due to the pandemic.

Speaking Engagements at
HFMA Region 6 Conference
Last month, CostFlex was invited to speak at the HFMA Region 6 Conference: Boldly Removing Borders for Better Health. Michael Ryan and Keith Parker represented CostFlex for this event in Sandusky, Ohio.

The following session information is found in the Conference Agenda on the event website.

"Healthcare Cost Accounting: As Easy as ABC"
Michael Ryan, President

Healthcare specific cost accounting has matured over the past 30 years in the United States. In the process, the application of healthcare cost accounting has also become more critical, accurate and at the same time, more routine in its application. The basics of cost accounting are very simple and can be easily understood.

Key learning objectives:
  • Overview of healthcare specific cost accounting and its uses.
  • Explaining the process of implementing an accurate and complete healthcare cost accounting model.
  • Understanding the many important financial applications associated with having a cost accounting data and reporting for healthcare financial management.

"Putting the Pieces Together: Combining Cost Data with Reimbursement for Contract Analysis"
Michael Ryan, President
Keith Parker, Director of Operations

While cost accounting and payer contract analysis are valuable by themselves. Through combining the data associated with each, the hospital finance department is able to truly maximize potential reimbursement as a result of identifying breakeven points and positive potential trends.

Key learning objectives:
  • The importance of cost accounting
  • The importance of payer contract automation and analysis
  • The potential gains by combining cost accounting and payer contract analysis

If you would like a copy of the presentations, please send us an email. | (800) 398-5753