Company Expands Healthcare Solutions with Enhancements to Service-line Budgeting, Forecasting and Scenario Modeling to Help Clients Meet Healthcare Reform Demands
June 17, 2013 — Orlando, FL (HFMA ANI Booth #1334) — Axiom EPM, a leading provider of financial planning and performance management software for enterprises, today announced that it has enhanced capabilities in its healthcare solution portfolio. Axiom EPM’s solution enhancements include service-line based budgeting and forecasting, scenario modeling and initiatives-based planning features. The company developed these to help provider organizations evolve their financial planning and forecasting solutions with sophisticated methodologies that drive plan accuracy and efficiency. Axiom EPM will showcase its enhanced healthcare portfolio at the 2013 Healthcare Financial Management Association’s Annual National Institute (HFMA ANI).
During the HFMA conference, attendees will be able to meet with Axiom EPM and see how the company is addressing the increased demand on healthcare organizations to simultaneously manage cost structures while sustaining high quality of care outcomes with its suite of performance management solutions. Axiom EPM’s integrated solutions allow more informed and dynamic business planning — the driving force behind the following enhancements to its performance management platform:
• Service-line based budgeting and forecasting – integrates volume, revenue and workload forecasting by clinical service line to produce more accurate departmental and reimbursement projections
• Scenario modeling – performs “what if” modeling and shows alternative views of the future, enabling provider organizations to prepare for and respond more nimbly to market and/or organizational changes
• Initiatives-based planning – identifies the impact of various initiatives on final budget targets and reflects changes in underlying assumptions, allowing finance to model initiatives discretely and in detail
“The pace of change in healthcare is accelerating rapidly, creating unique challenges for finance departments,” said Dan Albaugh, Senior Director of Financial Planning and Analysis, Dignity Health. “The need to flex financial projections according to a wide variety of external factors is essential, and Axiom’s solutions provide the level of sophistication and scalability needed to ensure we can model efficiently and accurately in an ever-changing environment.”
“The advancements we’ve made to our healthcare solutions are designed to support provider organizations as they work to succeed in today’s challenging business landscape,” said Jay Spence, VP of healthcare solutions, Axiom EPM. “In this post-reform era, Finance is being asked to model increasingly complex scenarios that can integrate key volume, revenue and expense planning assumptions. Our performance management solutions make it easy for Finance to efficiently model and evaluate the bottom-line impact of various scenarios allowing them to better guide and direct strategic and tactical decision–making.”
Axiom EPM offers solutions specifically designed for enterprises that unify financial planning and decision support functions in a single platform. Axiom EPM’s flexible, scalable solutions address the complicated needs of a wide variety of organizations and provide finance executives with the tools they need to improve performance. Axiom EPM embraces and extends familiar Microsoft Excel® functionality, allowing finance professionals to manage data in a familiar environment – while providing unmatched modeling flexibility and enterprise performance. Its applications promote end-user adoption as well as actionable participation across business processes.
Visit booth #1334 at HFMA ANI from June 16-19 in Orlando, FL for a demonstration of Axiom EPM’s performance management solution.
To learn more about Axiom EPM’s healthcare solutions visit: http://www.axiomepm.com/solutions/industry/healthcare
The Healthcare Financial Management Association (HFMA) provides the resources healthcare organizations need to achieve sound fiscal health in order to provide excellent patient care. With more than 39,000 members, HFMA is the nation’s leading membership organization of healthcare finance executives and leaders. HFMA helps its members achieve results by providing education, analysis, and guidance, and creating practical tools and solutions that optimize financial management. The organization is a respected and innovative thought leader on top trends and challenges facing the healthcare finance industry. From addressing capital access to improved patient care to technology advancement, HFMA is an indispensable resource on healthcare finance issues. hfma.org
About Axiom EPM
Founded by industry leaders with over two decades of experience in enterprise planning and reporting, Axiom EPM delivers performance management solutions for mid-sized and large organizations around the world. Solutions for budgeting & forecasting, reporting & analytics, strategy management, capital planning, profitability & cost management are delivered on a single unified platform. Axiom EPM embraces and extends familiar Microsoft Excel® functionality, allowing finance professionals to manage data in a familiar environment – while providing unmatched modeling flexibility and enterprise performance. For more information, visit www.axiomepm.com.