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  • Home 
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  • ASO 
  • Financial Empowerment 
  • General Ledger Explorer

 

 

In this section

Department: Emergency

Department: Surgery

Financial Management Explorer

General Ledger Explorer

HIM Documentation

Key Process Analysis

Patient Experience

Patient Flow

Revenue Cycle Advisor Hospital

Revenue Cycle Advisor Professional

Supply Chain


Visit HealthCatalyst.com View Data Sheet PDF

General Ledger Explorer

Quickly organize, summarize, and investigate traditional general-ledger data
Type: Analytics Accelerator ID: 1188
Status: Custom Services Revised:  2019-Jun-21

The General Ledger Explorer analytics accelerator allows users to quickly organize, summarize, and investigate traditional general-ledger data (actual and budget) to see and understand variances and take action as needed to improve financial performance.

The General Ledger application provides a single source of truth to identify and analyze financial performance and support sound management decisions.

The problem

To make informed decisions about employee productivity, supply utilization, and other areas that have a direct impact on a hospital’s bottom line, leaders need quick access to a blend of financial and operational data. Yet, these data types are often housed in separate subsystems—creating a challenge to pull together accurate data, analyze budget performance variances, and share results efficiently to guide decisions. 

Our approach

General Ledger Explorer provides actionable visualizations of general ledger data (actual and budget) and an interactive variance analysis feature that allows users to identify major variances within the cost center hierarchy and account hierarchy. The result? Users have easy access to timely, accurate financial data for better insight and wiser management.

Benefits and features

  • Access a single, shareable source of truth. High-level financial and operational performance measures are combined in a predictable and consistent manner—ensuring that stakeholders can review the same data and access the same insight.
  • Understand the drivers of financial performance. The application gives users ample means to explore the data. Guided navigation and drill-down capabilities provide answers to the series of questions typically asked, and embedded variance analysis makes it easy to zoom in on major contributors to variance.
  • Review the latest data, for the best decisions. The General Ledger application can be set to automatic refresh as new data is available, allowing users make timely management decisions to help meet budget expense targets.

Use cases

One hospital system’s leadership and operational managers had become increasingly frustrated by their inability to get timely data or access an accurate view of their current variances; as in many systems, their data collection and analysis was a manual process requiring coordination across multiple departments and systems. By implementing General Ledger Explorer, these leaders gained access to integrated financial and operational data as soon as it became available—and the ability to conduct reliable and timely trend and performance-variance analysis. These leaders can now identify issues much sooner, drill down to understand the cause of a variance, and take corrective action.

Intended users

  • Financial leadership
  • Cost-center leadership and management
  • Finance and accounting staff

Potential data sources

  • Finance/Costing

Financial subsystems, such as Payroll and Accounts Payable/Receivable


Key measures

  • Revenue and expenses
  • Budget variances
  • Key ratios
  • Margin

Success Stories

For examples of how customers have used Health Catalyst products and services to improve outcomes, see our success stories at healthcatalyst.com.

Contact us

For more information on how Health Catalyst products and services can help your organization, please contact us:

  • Reach out to          your sales representative
  • Call us at               (855) 309-6800
  • Email us at             info@healthcatalyst.com

ADDITIONAL INFORMATION

Visualization modalities:

  • QlikView
  • Tableau

Success stories

  • How Hospital Financial Transparency Drives Operational and Bottom Line Improvements

2016-2022 Health Catalyst Products & Data Sheets • Content Updated: 2019-Jun-21 • CMS: PROD CMS-8.18.4 (SQLE-8x-PROD) • Admin

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Health Catalyst Datasheets

This application is a catalog of technology products, applications, analytics and professional services that are available from Health Catalyst.

Content Updated:    2022-June-01
Previous Publish Date:    2021-May-27
Code Updated:    2022-June-14
Umbraco Version:    PROD CMS-8.18.4 (SQLE-8x-PROD)
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