Managing Capital Spending Across the Enterprise at Catholic Health Partners
Catholic Health Partners (CHP) is the largest health system in Ohio, as well as one of the largest nonprofit health systems in the United States. It is the fourth largest employer in Ohio and has over 4800 acute beds spanning across many hospitals, service and wellness centers.
CHP struggled with costly challenges that contribute to effectively allocating capital, such as timeley and accurate information on expenditures and limited visibility and transparency into the budget and planning process. Catholic Health Parnters wanted to demonstrate greater returns on capital investments and needed a solution to effectively manage its capital dollars that would allow opportunities to leverage group purchasing and negotiate better pricing.
CHP needed a common platform for its regions to track capital spending against their budgets. It also needed a tool to update information on future capital spending plans, as well as offer enhanced reporting and tracking tools to manage construction projects. CHP selected VFA.spendManager capital spend management software to help solve their challenges. VFA.spendManager provides an end-to-end software solution that centralizes capital planning and expenditure tracking, automating review and approval processes and accurately monitoring all capital projects, including multi-year projects.
VFA.spendManager has provided:
- A more consistent means of tracking and reporting on large construction projects;
permitting both regions and the system to have timely reporting
- Standardization of data input and output
- The ability to identify group purchasing opportunities across the system
- A collaborative environment for executives to strategically manage capital budgets
CHP can now think more strategically about what capital projects should move forward.
Contact us to learn more about VFA.