Barnabas Health Selects Kaufman Hall’s Software Tools to Drive Next-Generation Financial Management
SKOKIE, Ill.--(BUSINESS WIRE)--Kaufman, Hall and Associates, a leading provider of integrated management software for healthcare organizations, is pleased to announce that Barnabas Health, the largest integrated healthcare delivery system in New Jersey, has licensed Kaufman Hall’s Hospital Advisor® and Budget Advisor® software products to support financial decision making throughout the organization.
“The breadth and depth of its products and services gives us great confidence that we have selected a partner that will help Barnabas take a major step forward in how we plan and manage our organization.”
Based in West Orange, NJ, Barnabas provides treatment and services for more than two million patients annually through a network that includes six acute care hospitals, two children’s hospitals, ambulatory care centers, geriatric centers, a free-standing behavioral health center, New Jersey’s largest statewide behavioral health network, comprehensive home care and hospice programs, pharmacy services, multi-site imaging centers, three accountable care organizations, and a medical group. The system is comprised of 18,500 employees, making Barnabas the second largest private employer in New Jersey, and 4,600 physicians, representing one-fifth of the state’s actively practicing physicians.
With healthcare reform creating new challenges to the way hospitals and health system plan and manage their operations, Barnabas identified the need for a next-generation financial management system that will help the organization understand the impact of industry changes that are occurring and be nimble and effective in its response.
“We conducted a rigorous review and selection process, and Kaufman Hall clearly stood out as the firm best equipped to meet our diverse needs,” said Jay Picerno, Barnabas’ Chief Operating and Financial Officer. “The breadth and depth of its products and services gives us great confidence that we have selected a partner that will help Barnabas take a major step forward in how we plan and manage our organization.”
The advanced reform modeling and risk analysis capabilities within Kaufman Hall’s Hospital Advisor software will enable Barnabas to run sophisticated scenarios related to reimbursement, volume, and expenses to ensure strategies are in alignment with its long-range financial plan. In addition, as Barnabas implements a new Rolling Forecasting process to supplement annual budgeting later this year, the organization will be able to use Kaufman Hall’s Budget Advisor to translate changes in key business drivers into new financial projections.
The organization also will utilize Budget Advisor’s extensive capabilities for facilitating budgeting and reporting with medical groups and conducting financial variance analysis.
“Barnabas has recognized the important role that strong analytics play in today’s healthcare environment,” said Ken Kaufman, Chair of Kaufman Hall. “Kaufman Hall is proud to partner with the organization and provide the software that will help Barnabas continue on a strong path forward.”
About Barnabas Health
Barnabas Health is the largest not-for-profit integrated health care delivery system in New Jersey and one of the largest in the nation, with more than two million patient visits and delivery of more than 17,600 babies annually. The system includes six acute care hospitals, two children’s hospitals, a freestanding behavioral health center, ambulatory care centers, geriatric centers, the state’s largest behavioral health network, comprehensive home care and hospice programs, pharmacy services, a medical group and two accountable care organizations. As the second-largest private employer in New Jersey, Barnabas Health includes 18,200 employees and 4,600 physicians – or one-fifth of the actively practicing physicians in New Jersey. For more information, visit www.barnabashealth.org.
About Kaufman Hall
Since 1985, Kaufman Hall has been a leading software provider and advisor to hospitals and health systems, helping them incorporate proven methods into their strategic and financial management processes and consistently achieve their goals. Kaufman Hall continues to be exclusively focused on helping healthcare organizations succeed in a rapidly changing industry. We contribute to our clients’ success by providing the industry’s most advanced offering of integrated management solutions, which includes consulting services and software tools designed to facilitate and sustain organizational improvement. More than 600 hospitals and health systems across the country use Kaufman Hall software to help plan and manage their operations. To learn more, please visit www.kaufmanhall.com.