Christus Health is a Catholic, not-for-profit health system comprised of almost 350 services and facilities including more than 50 hospitals and long-term care facilities. Ranked among the top ten Catholic health systems in the United States by size, the Christus Health system includes facilities in eight states and Mexico.
Christus relied on Oracle’s Hyperion Enterprise for consolidation of its multiple GL systems including Oracle EBS, Lawson, Yardi, MAS 200, McKesson, Peachtree, and Great Plains. Data was loaded into Enterprise via LedgerLink and included extracts from Meditech as well as spreadsheets and flat files. With Hyperion Enterprise stretched to its limits of scalability and Oracle support for the product winding down, it was clear that a new consolidations platform was needed for the long term
Oracle Hyperion Financial Management (HFM) was selected as the new consolidation platform along with Financial Data Quality Management (FDM) for data loading, and reporting through SmartView and Financial Reporting. This solution allows for a more efficient close process and improved reporting capabilities; plus, Christus no longer relies on external processes for elimination reporting. HFM provides Christus business users a centralized repository for managing actuals from multiple general ledger systems and reporting processes.
The HFM system was seeded with actuals by using FDM to map the chart of accounts from the general ledgers to HFM. A repository of mappings was created in FDM to allow updates to be made in one place. With FDM and HFM in place, Christus was able to produce real-time financial statements with less effort including ad-hoc reporting capabilities through SmartView. Key objectives for this project included automating the month-end close process, improving visibility into results, streamlining internal and external reporting, and establishing a platform for Enterprise Performance Management. Additionally, the Hyperion solution streamlines data loads from multiple ledgers, inputs non-ledger information, automates calculations, facilitates inter-company transactions and journal adjustments, and easily generates financial statements. Financial Reporting increases the availability of reports to the end users of reports, formal financial statements, and other ad hoc analysis of the current actual data.
Business Value Delivered
- Replaced many complex spreadsheet models and manual processes
- Empowers users to perform monthly actuals data analysis
- Faster and more accurate reporting
- Efficiency in system use and streamlined month-end close
- Transparency of information of past, current and future business performance
- Ability to respond to business variability with fact-based decisions and plan revisions
- Improvements and flexibility in historical reporting
- Automated integration of data
- Dynamic calculations
- Intercompany Matching Report to provide detail transaction line item detail