Baptist Health Care Taps Syntellis Performance Solutions to Strengthen Rolling Forecasting, Expedite COVID-19 Recovery
Health system selects Syntellis’ Axiom Rolling Forecasting module to navigate COVID-19 disruption
CHICAGO – July 9, 2020 – Syntellis Performance Solutions, the leading provider of enterprise performance management (EPM) software, data, and analytics solutions, announced today that Baptist Health Care, based in Pensacola, Fla., has added the Syntellis Axiom Rolling Forecasting module, expanding their existing partnership with Syntellis. Baptist Health Care will use the new capabilities to improve agility amid the unprecedented financial challenges caused by the COVID-19 pandemic.
Syntellis, which was previously Kaufman Hall Software, brings together Axiom Software and Connected Analytics capabilities recently acquired from Change Healthcare to help clients acquire insights, accelerate decisions and advance their business plan – so they can transform their vision into reality.
The Axiom Rolling Forecasting solution features a method of rolling forecasting that leverages timely data and sophisticated analytics to provide healthcare finance professionals with the flexibility required to adjust to highly unpredictable and complex near- and long-term factors. Baptist Health Care has previously employed Axiom Clinical Analytics to discover opportunities to improve clinical outcomes, optimize revenue, and reduce costs. Baptist Health Care has been an Axiom partner since 2011.
Today’s forecasting and budgeting circumstances are the most tumultuous ever experienced by hospitals and health systems, with widespread uncertainty about the pandemic’s short- and long-term effects on profitability, liquidity and capital structure. In response, leading health systems have begun implementing quarterly forecasting techniques adopted from Fortune 500 companies to assess changes and adjust quickly to a volatile environment. Axiom Rolling Forecasting leverages timely data and sophisticated analytics to empower healthcare finance professionals to adjust to highly unpredictable and complex factors.
“We are pleased to expand our existing and productive collaboration with Syntellis as we strengthen our ability to predict and plan for changing market forces,” said Donny Bass, director of finance and decision support, Baptist Health Care. “We are using Axiom Rolling Forecasting to help us improve forecast speed and provide actionable data. We will use that information to navigate the short-term and long-term effects of COVID-19 on profitability, liquidity and capital structure.”
Baptist Health Care consists of three hospitals, four medical parks, a physician enterprise, a behavioral health network, child protective services, work placement for persons with disabilities, and an institute for orthopedics and sports medicine. Baptist Health Care is a member of the Mayo Clinic Care Network, a select group of hospitals with special access to Mayo Clinic knowledge, resources and expertise.
“Even before the COVID-19 pandemic, many hospitals struggled to produce accurate financial forecasts, due to a business environment where declining revenues, rising expenses, and increasing market volatility are the norm,” said Kermit S. Randa, chief executive officer of Syntellis Performance Solutions. “Axiom Rolling Forecasting helps healthcare organizations leverage data to thoughtfully act in a rapidly-changing economic climate by creating alternative operational and financial scenarios which, in turn, empower hospitals and health systems to confidently execute on their business priorities.”
Axiom recently added several new data and analytics tools to help hospitals and health systems gain insights on the ongoing clinical and operational impacts of COVID-19.
About Syntellis Performance Solutions
Syntellis Performance Solutions, previously Kaufman Hall Software, provides innovative enterprise performance management software, data and analytics solutions for healthcare, higher education and financial institutions. Syntellis’ solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions and advancing their business plans. With over 2,800 organizations and 450,000 users relying on our solutions, we have proven industry expertise in helping organizations transform their vision into reality. For more information, please visit www.syntellis.com.
Amendola Communications (for Syntellis)