Contract Modeling Capabilities Extend Leadership, Expertise, and Software Tools, Enabling Healthcare Providers to Optimize Financial Performance
SKOKIE, Ill. – January 5, 2017 – Kaufman Hall, a leading provider of management consulting services and enterprise performance management software, today announced the acquisition of KREG Information Systems(KREG), a leading provider of contract management, budgeting, and decision support software for healthcare providers.
With the acquisition of KREG, Kaufman Hall extends its industry leading performance management and decision support capabilities with contract modeling and analytics that enable health systems to more effectively and intelligently transition from traditional fee-for-service to fee-for-value reimbursement models. These tools help organizations to better predict and manage reimbursement and leverage a data-driven approach for improved payer negotiations. With KREG software, organizations can estimate net revenue by patient and better manage contracts, claims, and payments across the organization.
“We are excited to welcome KREG into the Kaufman Hall family, adding extensive industry expertise and new software capabilities that will significantly benefit our clients,” said Tom Walsh, CEO of Kaufman Hall Software. “In today’s healthcare environment, analyzing the impact on net patient revenues of changing reimbursement rules and contract models is integral to both short- and long-term financial planning. KREG’s steadfast commitment to client satisfaction for more than three decades is well aligned with the Kaufman Hall culture of customer excellence.”
Sophisticated contract modeling and claims analytics enables organizations to simulate managed care contracts, estimate third-party contractual allowances, analyze denials, and provide dashboard reporting for improved decision making. Additionally, it empowers staff to negotiate better contracts and ensure payment compliance with payers.
“Leveraging the contract modeling and simulation capabilities provided by KREG, we are able to better predict our reimbursements with the highest degree of confidence and negotiate with payers accordingly,” said Tom Miller, executive director of payer relations at Yale New Haven Health. “The ROI on the technology has been tremendous.”
With the addition of KREG, Kaufman Hall expands its robust enterprise performance management and integrated decision support system, which now includes advanced cost accounting, clinical benchmarking, and revenue cycle management capabilities to drive informed, accurate decisions that impact profitability and patient outcomes across service lines, organizations and the care continuum.
“We are proud to be joining Kaufman Hall, a firm with a long track record of helping healthcare executives develop and execute strategies that optimize financial performance,” said Stephen Kreter, executive vice president and co-founder of KREG Information Systems. “Both Kaufman Hall and KREG have a shared commitment to helping clients improve performance and achieve their goals. Our team is excited about the opportunity to leverage our combined expertise and modern technology to provide best-in-class solutions and service for our customers.”
The addition of KREG is Kaufman Hall’s second strategic software acquisition in 2016. The company acquired Total Benchmark Solution in February, adding data and analytics capabilities that enable hospitals and health systems to reduce clinical variation and improve patient outcomes.
KREG founders Greg Ferguson and Stephen Kreter will continue in leadership roles within Kaufman Hall and the KREG team will continue to operate business as usual in supporting customers and ongoing operations.
About Kaufman Hall
Kaufman Hall provides management consulting and software to help organizations realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of our advisory services are unparalleled, encompassing strategy; financial and capital planning; debt and derivatives-related financial transactions; capital allocation and decision making; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall software includes the Axiom Healthcare Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, performance reporting, capital planning, and cost accounting deliver decision support, reporting, and analytics within an integrated software platform. Kaufman Hall’s PEAK Software empowers healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.