Situation
Six years ago, Ingalls was experiencing financial difficulties and working with a turnaround firm to regain and then maintain performance. The finance team was challenged to step up financial monitoring and respond more nimbly to changing conditions.
Reasons
At the time, the hospital’s paper-based financial management system couldn’t deliver data fast enough, nor could it give managers the analytic capabilities they needed to constantly monitor, manage, and modify what happened in their departments. Inefficiency and duplicated effort were inherent in the system, draining operating funds and straining staff resources even further. Reporting delays and redundancies made it possible for costly problems to go undetected for long periods of time.
What they needed
Interactive tools and resources that facilitate access to information and empower staff to meet productivity and performance goals consistently over the long term.
What we provided
A sophisticated, yet simple-to-use, software and service suite that delivers automated, desktop access and features advanced functions for monitoring and analyzing data in real time, taking corrective action quickly, and correlating actual daily performance with strategic goals.
Some of the results Access to data—Frontline managers can access real-time data as soon as it’s loaded. Completed productivity reports are available almost as soon as payroll closes—no more waiting for monthly financials. Fresher data allows faster response and more immediate impact on productivity and the bottom line.
Controlling costs—Advanced interactivity allows managers to engage in deeper analysis of performance and fix things rather than just report on them. Costs are controlled in real time, so problems don’t persist or go unaddressed indefinitely.
Performance improvement—Since installing INSIGHTS, Ingalls has hit budget every year and been successful at meeting all productivity targets.
Ingalls Health System serves the South Suburbs of Chicago at a 564-bed hospital, four family care centers, an outpatient rehabilitation facility, and a wellness center. Installed INSIGHTS® software and service solution in March 2000. Current number of users: 67
Feedback “INSIGHTS is more than aggregated data we can tabulate, analyze, graph, and manipulate. It functions as a dynamic system that automatically and constantly monitors our financial performance. We don’t have to compile monthly reports to find out there’s a problem. INSIGHTS alerts us to discrepancies in real time and gives us the ability to drill down, discover the facts behind the variance, and take immediate action to rectify the problem. Simply put, INSIGHTS is a powerful tool that enables us to perform at the level we need to.”
Vince Pryor
Corporate Vice President
for Finance & CFO
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