In this guest blog, Daniel Groom, Senior Vice President of Finance, shares his team’s experiences, offering six best practices for a smooth and effective implementation of customer profitability analysis.

implementation of effective cost improvement strategies will continue to be a top priority for organizations, but in this era of healthcare reform, it has become even more critical for hospitals and health systems.

Hospital and health system executives benefit from having processes in place that help ensure capital allocation decisions align with strategic goals.

Learn about the four essential characteristics of financial tracking and reporting software systems that help ensure the long-term success of cost management efforts.

Incentive compensation management (ICM) programs are one of the most critical factors in determining the success of financial institutions. After all, a financial institution is, at its roots, a sales and services organization. Learn more.

Hospital leaders need to access accurate and reliable data and analytics in order to identify opportunities to improve financial and clinical performance.

Finance teams need an accurate and consistent methodology to analyze profitability and performance. Learn more in our article on utilizing funds transfer pricing.

Best practices for creating and supporting a high-functioning cost accounting and decision support team.

The banking industry is full of hope with expectations of higher interest rates and decreased regulation. However, banks and credit unions still find themselves mired in one of the most...

Use of advanced techniques and tools with the right capabilities can help executives track and balance interdependent priorities—all while managing costs and optimizing care quality. This article describes how to effectively convert strategy to actionable and sustainable operational initiatives.

Syntellis’ Axiom Higher Education Suite provides sophisticated, industry-specific software that supports institutional planning and reporting. Learn more!

(Part 2 of a 3-part blog series) Financial institutions with effectively developed and executed strategic plans have a clear competitive advantage, but such institutions are all too limited in number. Leaders often cite the lack of appropriate data and tools as a reason that strategic initiatives lose momentum amid the daily “fire drills” in financial institutions.