Integrated health system will add enterprise cost accounting, strategy and contract management, decision support, and analytics to its existing instance of Axiom
CHICAGO – October 17, 2019 – Kaufman Hall, a leading provider of enterprise performance management (EPM) software, data, and management consulting services, announced today that Scripps Health, a nonprofit, integrated health system headquartered in San Diego, Calif., has expanded its use of the Axiom Healthcare Suite from the strategic financial planning modules to an enterprise license for the entire suite of Axiom healthcare products. The new product capabilities will empower Scripps Health’s offices of Finance, Strategy, Quality and Revenue Cycle/ Payer Relations to understand the cost and quality implications of every decision they make, helping the organization deliver better health outcomes while reducing total cost of care.
Scripps Health selected Axiom based on the software’s leading technology, as well as their successful 15-year partnership with Kaufman Hall. During that time, Kaufman Hall has helped Scripps Health address and navigate many strategic challenges, including healthcare’s ongoing evolution to value-based care. The volatility within healthcare due to changing government regulations, the rise of consumerism, and the desire for detailed reporting on quality and other metrics has increased the need for reliable, data-driven insights to guide planning. The extended capabilities of the full Axiom Healthcare Suite will help Scripps Health fulfill those needs.
“The changes witnessed so far, especially in how providers are reimbursed for the care they deliver, are only the beginning,” said Loucas Koutoufidis, CPA, corporate vice president and corporate controller at Scripps Health. “It seems like new demands and requirements are being imposed every day, which means healthcare providers like Scripps Health must respond quickly. We must also do a better job of incorporating performance improvements into planning for tomorrow, as well as five or 10 years down the road, to ensure we’re on a sustainable path. We need to be able to implement these plans enterprise-wide, across our multitude of care lines and lines of business. The Axiom Healthcare Suite will provide us with real-time insights so our team can continually focus on the highest quality of care, while lowering costs for patients in the greater San Diego area.”
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.
Axiom implementation will move forward in two phases. First will be the addition of Axiom Cost Accounting — which improves the accuracy and reliability of cost results, delivers powerful analytics, and empowers profitability — and Axiom Contract Management, which helps health systems transition from traditional fee-for-service to new value-based reimbursement models.
The second phase focuses on decision support and analytics. This phase will include implementation of Axiom Decision Support to deliver a comprehensive view of patient, physician and service line performance to ensure accurate patient-level costs; Axiom Clinical Analytics, which will provide morbidity, mortality, cost and patient experience as a balanced set of outcomes to improve patient care and provider performance; and Axiom Comparative Analytics to help Scripps Health understand how its performance in areas such as financial, payroll and utilization metrics compare internally to past performance and externally to health systems of similar size and/or demographics.
“We are thrilled to be expanding our long-standing relationship with such a prestigious health system as Scripps Health,” said Kermit S. Randa, chief executive officer of Kaufman Hall Software. “The financial and clinical challenges healthcare organizations face today will only become more complex in the future. Scripps Health is proactively taking steps to get ahead of these challenges so they can continue to address healthcare complexities and deliver unmatched care, no matter what the future holds. Their use of the full Axiom Healthcare Suite will help them deliver improved financial outcomes and focus on what they do best – providing quality care to patients.”
Kaufman Hall provides software and consulting services to 80 of the top 100 health systems in the U.S.
About Kaufman Hall
Kaufman Hall provides a unique combination of software, management consulting and data solutions to help society’s foundational institutions to 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.