Skokie, IL, (PRWEB) January 20, 2016
Kaufman Hall, a leading provider of strategic, capital and financial advisory services and software tools to healthcare organizations, today announced that Woman’s Hospital, one of the first and largest women's specialty hospitals in the nation, has selected the company’s cost accounting software solution. Woman's Hospital selected the solution based on its ability to provide a clear understanding of key volume, cost, and profitability measures across clinical service lines for improved performance management.
A Kaufman Hall customer since 2010, Louisiana-based Woman’s Hospital will also upgrade to the latest version of the company’s financial management software platform, which enables complete integration of multiple and disparate finance functions. With the right data, analytics and insights upon which to make calculated business decisions, Woman’s Hospital will be better equipped to address the financial challenges associated with new value-based care models.
“We see Kaufman Hall as a trusted partner with a proven track record for providing both the guidance and software tools necessary to respond to and thrive in today’s market,” said Greg Smith, Vice-President, Finance/CFO at Woman’s Hospital. “The company’s cost accounting solution will enable us to streamline the process of developing patient-level costs and ensure timely and accurate reporting of performance analytics across patient populations, which has become increasingly central to long-range and tactical planning, as well as data-driven decision making.”
Kaufman Hall’s sophisticated cost accounting solution empowers finance professionals to deliver insightful views of volume, cost, and profitability measures across clinical service lines. Trended views of key indicators and analytics can be presented by any dimension, including by service line, DRG, physician and payer. And with powerful ad hoc reporting capabilities, users can quickly drill from consolidated reports to the underlying details, including to patient and charge item detail levels.
“Accurate and timely cost data is critical to understanding performance drivers and controlling costs to positively impact operational and financial outcomes,” said James Bodan, Executive VP of Kaufman Hall’s Healthcare Software Division. “We are excited that Woman’s Hospital has chosen Kaufman Hall’s cost accounting software and we look forward to continued partnership and their long-term success.”
About Woman’s Hospital
Woman's Hospital was one of the first women's specialty hospitals in the nation, and is currently one of the largest in the United States. Opened in November 1968, Woman's is a private, nonprofit organization that is consistently recognized for its innovative programs for women and infants. For more information, visit womans.org.
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.