Award winning healthcare system leverages best-in-class EPM software and services to streamline strategic financial decision making across 28 hospitals
CHICAGO – March 26, 2019 – Kaufman Hall, a leading provider of enterprise performance management (EPM) software, data, and management consulting services, announced today that Banner Health, one of the nation’s largest non-profit health systems, selected Axiom software solutions to optimize financial and operational performance.
Twenty years ago, a merger of Lutheran Health Systems and Samaritan Health System created Banner Health, a $9 billion organization today, that now covers six states with more than 50,000 employees. Two decades of growth and change created enterprise-wide challenges for Banner.
“As our enterprise evolved in terms of scale and complexity, we outgrew some of the software solutions we built to manage different business functions,” said Dennis Laraway, chief financial officer at Banner Health. “As a large healthcare enterprise we required a comprehensive view of our business, and a single source of truth, to make well-informed strategic financial decisions. Our team felt that an integrated enterprise performance management solution would add efficiencies and transparency to our work – from the home office to our leaders in the field. During our research it was clear that Kaufman Hall’s Axiom software was best in class and aligned to tackle our unique needs. We knew Kaufman Hall could be counted on to serve as a long-term partner with Banner.”
The Axiom Healthcare Suite utilizes best-practice methodologies to streamline processes, manage costs, model industry changes, enhance efficiency, and highlight variances. The software works in an integrated manner to help hospitals, health systems, and physician practices take action and hold organizational leaders accountable for results. To tackle their unique needs, Banner chose to implement Axiom’s financial and capital planning and tracking, asset replacement planning, budgeting, performance reporting and analytics, and rolling forecasting solutions.
“We are excited to partner with Banner Health, one of the nation’s premier health care providers, to help optimize financial clinical and operational performance, ultimately leading to an enriched patient care experience,” said Kermit Randa, chief executive officer of Kaufman Hall Software. “Our Axiom team is dedicated to providing easy-to-use solutions that help the nation’s healthcare providers tackle some of their greatest challenges.”
Kaufman Hall provides software and consulting services to 80 of the top 100 health systems in the country.
About Kaufman Hall
Kaufman Hall provides management consulting and software to help organizations realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall software includes the Axiom Software Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, performance reporting, capital planning, and cost accounting deliver decision support, reporting, and analytics within an integrated software platform. Kaufman Hall’s Axiom Clinical Analytics empowers healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.