LifePoint Hospitals improves cost accounting data accuracy and efficiency to drive strategic planning with Kaufman Hall

LifePoint Hospitals is a community hospital provider operating 61 hospital campuses in 20 states with more than $3.7 billion in revenues, 32,000 employees and 3,400 physician partners. As costs rose and reimbursements continued to shrink, Brentwood, Tennessee-based LifePoint Hospitals had some important decisions to make to ensure profitable growth in both the short-term and long-term. However, their costing system was fraught with issues that wouldn’t support their growth strategy.

Time intensive, manual processes were preventing them from providing timely cost data for critical decisions. “We were doing costing but it was so time and labor intensive. Our analysts were only doing maintenance in the system but they weren’t analyzing anything,” says Aaron Frazier, Manager of Strategic Resource Group at LifePoint Hospitals.

Read this case study to see how Lifepoint Hospitals:

-Streamlined reconciliation and validation tasks associated with cost data

-Improved executive reporting with timely, comprehensive views of service line performance

-Gained visibility to crucial granular detail to control costs and achieve budget

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