Temple University Health System Selects Health Catalyst's Data Platform to Help Strengthen Financial Performance and Optimize Value-Based Care
Health Catalyst (Nasdaq: HCAT) announced its partnership with Temple University Health System on Feb 23, 2022. Temple Health will implement PowerCosting™ from Health Catalyst's Financial Empowerment Suite to enhance financial performance and clinical outcomes. CFO Nick Barcellona emphasized the strategic investment for delivering high-value patient care. This engagement aims to provide insights into true costs and improve resource utilization amidst challenges like shifting payer mixes and rising expenses. Health Catalyst’s CEO Dan Burton expressed confidence in the partnership's potential for measurable healthcare improvements.
- Partnership with Temple University Health System to implement PowerCosting™, enhancing financial performance.
- Focus on improving clinical outcomes and resource utilization through advanced data and analytics.
- CFO's commitment highlights strategic investment in patient care amidst economic challenges.
- None.
SALT LAKE CITY, Feb. 23, 2022 /PRNewswire/ -- Health Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading provider of data and analytics technology and services to healthcare organizations, today announced an engagement with Temple University Health System, a major Philadelphia-based academic health system recognized for its work driving medical advances through clinical innovation, pioneering research and world-class education.
Temple Health selected Health Catalyst PowerCosting™, a part of Health Catalyst's Financial Empowerment Suite, to power the healthcare organization's financial transformation while ensuring excellence in clinical outcomes and improvements.
Nick Barcellona, Temple Health's Chief Financial Officer, shared his excitement over this announcement and how it reinforces the health system's commitment to being a leader in delivering high quality and high value care to the community it serves in Philadelphia. Barcellona's roots in finance were established in long-cycle manufacturing cost accounting, which fostered his passion to constantly enhance his team's ability to provide cost insight to their operational and clinical partners. "The Temple Health team views this engagement as a key strategic investment to ensure the highest value in clinical care for patients, while successfully focusing on population health and risk-based contracting," Barcellona commented.
Health care executives across the country continue to navigate the perfect storm of a shifting payer mix, ongoing COVID-19 challenges, and ever-increasing expenses. This navigation requires an integrated and comprehensive view of data. The Financial Empowerment Suite leverages the Health Catalyst Data Operating System (DOS™) platform and gives healthcare leaders across the organization this critical view. PowerCosting, as part of the Financial Empowerment Suite, helps Temple Health to understand its true costs as the healthcare organization works to use resources more effectively and provide the best care possible for patients.
Chris Snyder, Temple Health's Vice President of Financial Operations and Business Intelligence, said his team is pleased to partner with Health Catalyst for activity-based costing solutions. "Health Catalyst's experience implementing precise cost accounting methodologies and business intelligence tools at complex academic healthcare providers gave us confidence that we will garner the insight we need into ways to optimize the value-based patient care we provide," Snyder said. "With reimbursement under continued pressure, identifying efficiencies and reducing variability of care are critical steps to maintaining performance. These tools will equip us to meet that challenge," he added.
Dan Burton, CEO of Health Catalyst shared, "We are honored to partner with Temple Health, a top-tier academic and healthcare organization, in their effort to transform their financial future and achieve continued clinical success. I'm confident that our PowerCosting solution combined with Temple Health's commitment to excellence, will enable the organization to achieve measurable, data-informed healthcare improvement."
About Health Catalyst
Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed.
Media Contact:
Amanda Hundt
Vice President, Corporate Communications
amanda.hundt@healthcatalyst.com
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SOURCE Health Catalyst
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