Skokie, IL (PRWEB) January 06, 2015
Kaufman Hall, a leading provider of strategic, capital and financial advisory services and software tools to healthcare organizations, today announced that it has expanded its relationship with Presence Health, one of the largest health systems in Illinois. Presence Health selected Kaufman Hall’s solution to streamline Presence’s cost accounting processes and fully integrate resulting service line and population volume and cost analytics into its planning and performance monitoring. Presence Health spans multiple hospitals, long-term care and senior living facilities, and dozens of physician offices and health centers.
With Kaufman Hall’s recent acquisition of Axiom EPM – an industry-leading enterprise performance management software company - it remains committed to a 30-year history of providing healthcare organizations with the consulting expertise and enabling software solutions to promote effective strategic and financial decision making. Presence Health, already a user of Kaufman Hall’s financial planning and budgeting tools, will be implementing Kaufman Hall’s Cost Accounting and Decision Support solution as part of fully unified performance management platform.
“The ability to fully integrate patient-level costing and service line reporting through sophisticated financial planning and modeling will help our organization meet the demands of today’s changing industry,” said Tony Filer, CFO of Presence Health. “As an existing customer, we knew we had a very capable partner that was committed to our success. Through our evaluation process, Kaufman Hall demonstrated they have a modern software platform and the consulting expertise to help us optimize the tools and processes necessary to successfully navigate that change.”
Leveraging Kaufman Hall’s cost accounting and service line analytics solutions, Presence Health will have insight into volume, cost, and revenue trends to better support tactical and strategic planning initiatives. Using a variety of costing methodologies, detailed patient-level costs can be efficiently computed, promoting greater visibility into the cost of care by patient encounter or population, by episode of care, and across clinical service lines. With rich data visualization and reporting capabilities built in, the Presence team will have more timely access to information to impact decision making.
“In the wake of healthcare reform, understanding the cost of patient care has become a critical input to cost management initiatives as well as overall strategic and financial planning,” said James Bodan, Executive Vice President of Kaufman Hall’s software division. Presence Health will be joining the rapidly growing group of healthcare providers that rely on Kaufman Hall’s cost accounting and service line analytics solutions. “We are excited to be working with Presence Health by providing both the expert consulting and the sophisticated software solutions needed to help their organization achieve its full potential.”
About Presence Health
Presence Health is the largest Catholic health system based in Illinois, created in November 2011 through the merger of Provena Health and Resurrection Health Care. With more than 150 sites of care, including 12 hospitals and 27 nursing and senior facilities, Presence Health has 21,000 employees, 4,000 medical professionals and a revenue base of nearly $3 billion. Visit http://www.PresenceHealth.org to learn more.
About Kaufman Hall
Leveraging 30 years of experience, Kaufman Hall helps hospitals and health systems implement best practice strategic financial management, empowering organizations to reach their full potential. Combining management consulting and advisory services with innovative enterprise performance management applications, Kaufman Hall enables data-driven decision making that quantifies the financial impact of plans, scenarios, and actions. Kaufman Hall provides sophisticated, integrated, and intuitive software solutions for budgeting & forecasting, long-range planning, capital planning & management, performance reporting, and decision support & analytics, delivered on Axiom EPM’s unified platform via the cloud or on premise. To learn more, visit http://www.kaufmanhall.com.