Barnabas Health Chooses Kaufman Hall’s Software Tools to Drive Next- Generation Financial Management

Kaufman, Hall and Associates, a provider of integrated management software for healthcare organizations, announced that Barnabas Health, an 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.

According to a release, 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 behavioral health network, 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 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."

Barnabas Health is an integrated health care delivery system

Kaufman Hall is a software provider and advisor to hospitals and health systems.

More Information:

www.barnabashealth.org

www.kaufmanhall.com

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