Suburban Minneapolis Health System Bolsters Capital Planning, Tracking Processes
CHICAGO – December 18, 2019 – Kaufman Hall, a leading provider of enterprise performance management (EPM) software, data, and management consulting services, announced today that North Memorial Health selected Axiom Software to streamline capital workflow for its growing infrastructure needs.
With its network of more than 350 care providers and 6,000 team members, the Minnesota health system is investing in technology and its facilities to serve its 55,000 monthly patients, today and well into the future. North Memorial Health chose Axiom Capital Planning and Capital Tracking, which includes asset replacement reporting, to improve the accuracy of its long-range financial planning.
“As our organization has grown we’ve seen an increase in complex capital initiatives and needed a method for tracking the details of cost roll-ups to different departments, projects, and managers,” said Brent Hansen, Director of Financial Planning and Analysis at North Memorial Health. “Our manual processes and previous planning tools couldn’t keep pace. Axiom Software will streamline our capital workflow for distribution, gathering, and tracking. It also gives our team members greater visibility into project costs and drives stronger alignment to our strategic priorities.”
Axiom Capital Planning and Tracking software enables hospitals and health systems to use a more structured and disciplined approach to allocate and manage capital. The solution helps organizations compare each capital request objectively and consistently to determine the right amount of investment in capital projects to support strategic growth and effective care delivery.
Kaufman Hall will integrate North Memorial Health’s existing data and interface with current source systems, Hansen added.
“Our partnership with North Memorial Health is cause for celebration, along with the health system’s 80th anniversary this year,” said Kermit S. Randa, chief executive officer of Kaufman Hall Software. “Our Axiom Healthcare Suite is built on a series of best practice methodologies that help healthcare organizations contain project costs, stay within budgets, and manage capital requests. These are critical needs for hospitals and health systems trying to balance expanding care to meet the needs of their communities while containing costs.”
Kaufman Hall provides software and consulting services to 80 of the top 100 health systems in the country, including award-winning North Memorial Health.
About Kaufman Hall
Kaufman Hall provides a unique combination of software, management consulting and data solutions to help society’s foundational institutions 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, rigorous analytics, and industry-leading solutions into their strategic planning and financial management processes, with a focus on achieving their most challenging 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 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.
Amendola Communications (for Kaufman Hall)