SOURCE: Infor

Infor

February 24, 2014 09:00 ET

Infor Announces Plan to Help Healthcare Industry Better Manage Costing in Wake of Healthcare Reform

Infor Healthcare TrueCost to Focus on Direct Variable Patient Expenses, Reduce the Cost of Care

NEW YORK, NY--(Marketwired - Feb 24, 2014) - Infor, a leading provider of business application software serving more than 70,000 customers, today announced Infor Healthcare TrueCost, part of the Infor Dynamic Enterprise Performance Management Suite and Health 3.0 initiative. Expected to be available later this year, this solution is designed to help solve the cost crisis in the era of healthcare reform and value-based reimbursement. Infor Healthcare TrueCost will leverage Infor's unique understanding of healthcare business processes and ability to leverage clinical and operational data to help organizations more accurately measure and track cost across the continuum of care. Infor Healthcare TrueCost is designed to deliver fast, innovative tools to empower health system leaders with actionable data at the point of decision to proactively support workflow and process improvement in near real-time.

Built to accurately capture direct, actual costs at the patient level, Infor Healthcare TrueCost consolidates cost information across an episode of care, so that organizations can truly understand what it costs to deliver care. The solution combines unique technology with unsurpassed clinical and operational data integration and sophisticated analytics to help organizations improve operational and fiscal efficiency while delivering clinical excellence. This solution will allow decision makers to analyze and manage risk in a prospective payment or ACO environment, identify patient care variation in both acute and sub-acute care settings, and support the evolving environment of value-based reimbursement and patient-centered care.

In addition, Infor Healthcare TrueCost lets organizations more effectively analyze care delivery across departments and facilities by combining disparate data sources including Human Capital Management and Supply Chain systems, Business Intelligence platforms, Electronic Health Records and other clinical systems. By engaging in more detailed analysis to facilitate more effective management of an organization, Infor believes organizations can improve clinical and financial outcomes.

"Value-based reimbursement challenges the economic assumptions healthcare organizations relied upon for decades, and cost accounting solutions available in the market today will not be able to support the evolving environment of value-based reimbursement and accountable patient-centered care," said Barry Chaiken, chief medical information officer, Infor. "Infor is developing this solution to help combat the complexities associated with delivery and completely transform the financial side of healthcare with accurate measurement and reporting."

About Infor
Infor is fundamentally changing the way information is published and consumed in the enterprise, helping 70,000 customers in over 200 countries and territories improve operations, drive growth, and quickly adapt to changes in business demands. Infor offers deep industry-specific applications and suites, engineered for speed, and with an innovative user experience design that is simple, transparent, and elegant. Infor provides flexible deployment options that give customers a choice to run their businesses in the cloud, on-premises, or both. To learn more about Infor, please visit www.infor.com.

Infor customers include:

  • 19 of the top 20 aerospace companies
  • 12 of the top 13 high tech companies
  • 10 of the top 10 pharmaceutical companies
  • 21 of the 25 largest US health delivery networks
  • 16 of the 20 largest US cities
  • 84 of the top 100 automotive suppliers
  • 31 of the top 50 industrial distributors
  • 5 of the top 9 brewers

This announcement reflects the direction Infor may take with regard to the specific product(s) described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this document or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product or functionality, even if such is described in this announcement and even if such description is accompanied by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "predict," "should," "will," and/or similar expressions. Many factors can affect Infor's product development plans and the nature, content and timing of future product releases, all of which remain in the sole discretion of Infor. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement.