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Hyperion Financial Management: Monthly consolidation and reporting made easy

“Hyperion Financial Management automates our consolidation and allows us to transform data into insight in just minutes to drive informed business decisions.”
Sharon Harrell, Senior Manager, Technology Solutions, Grant Thornton LLP

The client
A nonprofit health system with more than 200 care sites and affiliates throughout central Indiana, Community Health Network’s full continuum of care integrates thousands of physicians; hundreds of specialty and acute care hospitals; and numerous surgery centers, home care services, MedChecks, and behavioral health and employer health services.

Community Health Network at a glance
Patient encounters: 2 million annually
Staffed hospital beds: 1,200
Hospital admissions: 54,000 annually
Outpatient visits: 1 million annually
ER visits: 275,000 annually
Outpatient surgeries: 85,000 annually
Inpatient surgeries: 13,000 annually
Physicians: 2,000; 500 employed
Employed physician visits: 700,000 annually
Employees: 13,000
Operating revenue: $2.1 billion annually
Numbers are approximate.
The situation
For Community, monthly consolidation required manual journal entries of data from legacy financial systems. Multiple touch points of key data elements were managed in a complex spreadsheet environment. Data analysis for management reporting could take as long as three months.

The challenges
The network was planning a total overhaul of its finance infrastructure. Leaders sought to replace an unwieldy maze of disparate general ledger, budgeting, planning, purchasing, supply chain and related systems with a single set of integrated applications.

Although Community’s leaders determined that most operating units would leverage PeopleSoft as the general ledger platform, the change would not initially be universal. In addition, the organization would continue to change through acquisitions and other growth initiatives. To automate financial consolidations, Community wanted a tool that would import and map data from external general ledger systems with differing account structures. This would allow Community to quickly incorporate new entities into the month-end financial reporting and, ultimately, streamline financial reporting and analysis.

What the team did
Grant Thornton LLP implemented Oracle’s Hyperion Financial Management (HFM) system to:
•    Map financial data from multiple disparate systems to a common chart of accounts
•    Automate eliminations for intercompany transactions
•    Provide monthly statutory closing of the network’s books
•    Facilitate monthly and quarterly statutory reporting
•    Enable management reporting and analysis
As a network that has grown through M&A and alliances over many years, Community’s organizational structure includes a number of complex relationships. HFM streamlined accounting for the varied ownership structures, including joint ventures and not-for-profit and for-profit operating units.

Outcomes
HFM eliminated the manual Excel data entries and reduced Community’s monthly consolidation from days to hours, allowing finance leaders to reallocate hundreds of staff hours each month to higher-value activities.

In addition, HFM integrates seamlessly with the network’s new suite of Oracle finance applications, including PeopleSoft, Hyperion Data Relationship Management, Hyperion Planning, Hyperion Profitability and Cost Management, Oracle Business Intelligence Enterprise Edition and Oracle Essbase, as well as the other electronic health record, timekeeping and HR-related systems that form the heart of Community’s IT infrastructure.
Community Health Network
Contacts
Bryan Wiggins

Principal
Technology Solutions
T +1 513 345 4630

Sharon Harrell
Senior Manager
Technology Solutions
T +1 404 475 0020

Maura King
Key Account Executive
Health Care Advisory Services
T +1 312 602 8216

Todd Wegener
Consulting Senior Manager
Business Advisory Services
T +1 913 272 2708