1. As Chief Financial Officer, you are
the steward of your hospital or health
system’s financial health.
You manage, plan, and organize financial operations,
from capital and operational budgeting to analysis,
controllership, payer management, and revenue
cycle. You advise management and board members
on all things that can have a financial impact on
operations. And you manage all of this with an eye
toward changes in the industry, such as completing
Meaningful Use certification and participating in
Accountable Care Organizations, that will affect
your health system’s bottom line.
In this environment, you and other CFOs share a
common vision: the desire for the most up-to-date
and accurate business intelligence to help you
make more informed decisions on a daily basis.
Because data tends to reside in departmental silos,
many CFOs gather their analytics through a variety
of methods, including the following:
• A combination of disparate, point-based
software solutions.
• Excel documents that require poring over
line items and other information.
• Manual gathering of information housed
in files, paperwork, and PDFs.
While you might have heard about a better way to
aggregate and analyze data through an enterprise-
wide solution, you likely haven’t seriously explored
what it would take to implement such a tool – perhaps
in part because of a general perception that it would
require an investment that far exceeds the capital
budget or a time commitment that would hurt the
day-to-day productivity of internal teams.
The reality, however, is an enterprise data warehouse
(EDW) can help you overcome the challenges
you face and give you a significantly broader view
of information than ever before. A variety of options
are available for implementing an EDW, from
packaged solutions to services-heavy offerings to
the time-intensive task of building an EDW in-house.
The KnowledgeEdge™ EDW from Health Care
DataWorks is a powerful, flexible choice that can
help you meet your goals and overcome your
daily challenges in five key ways:
1. Provides access to organization-wide
business intelligence in the most efficient
and broadest manner. The KnowledgeEdge EDW
aggregates, organizes, and analyzes data from
administrative, financial, clinical, and research
functions. As a result, you can access information
from across the entire organization through
an easy-to-use portal. You can view standard
information, such as copay volume or gross
days in AR, or run your own queries for specific
information to establish trends or make decisions.
You and your team save valuable time because
you can access information when and how
you need it.
2. Arms you with timely and accurate information.
The KnowledgeEdge EDW creates a single,
trusted source of information and serves as a
foundation for both retrospective data analysis
and predictive analytics. The EDW sits atop a
robust unified data model that can be implemented
across every department, giving users access
to information in nearly real time. Users will
appreciate both the standard and ad-hoc
reporting capabilities.
HEALTHCARE RAPID READ
Five Ways a Healthcare CFO Benefits from an Enterprise Data Warehouse

2. 3. Enables you to increase or retain revenues.
The KnowledgeEdge EDW contains pre-built
reports, dashboards, and applications that
enable you to monitor a host of metrics, such
as profitability, cash flow, patient population risk,
charitable care, and AR/AP. The Value-Based
Purchasing (VBP) application, for example,
allows you to monitor patient satisfaction and
all other VBP metrics – and also to run “what-if”
scenarios to identify specific metrics that can
be improved in order to earn back withheld
Medicare reimbursements.
4. Is fast and easy to implement.
The KnowledgeEdge EDW can be a hosted
solution or it can be implemented within your
organization’s IT environment. Either way, the
EDW prevents your health system or hospital from
having to build its own enterprise-wide solution,
minimizing IT time and resource requirements.
5. Fits the budget and brings a rapid and
measurable return on investment.
Because the KnowledgeEdge EDW contains
pre-built dashboards, reports, and applications,
once you’ve loaded your data into the EDW, you
gain immediate insight for quick ROI. Additionally,
if budgets are tight, you can take a departmental
approach to implementing the enterprise-wide
solution, bringing specific areas online in stages
to fit the operating or capital budget.
An EDW provides the enterprise-wide solution you
need to enhance business intelligence capabilities
and gain deeper insights into operations. Additionally,
it empowers the entire organization to make more
informed and timely decisions, from the operating
room to the board room. With its power and flexibility,
the KnowledgeEdge EDW is a win-win for the CFO
and the organization as a whole.
About HCD
Health Care DataWorks, Inc., a leading provider
of business intelligence solutions, empowers
healthcare organizations to improve their
quality of care and reduce costs. Through its
pioneering KnowledgeEdge™ product suite,
including its enterprise data model, analytic
dashboards, applications, and reports, Health
Care DataWorks delivers an enterprise data
warehouse necessary for hospitals and health
systems to effectively and efficiently gain
deeper insights into their operations. For more
information, visit www.hcdataworks.com.
Contact HCD
1.877.979.4239
www.hcdataworks.com
1801 Watermark Dr. Suite 250
Columbus, OH 43215
info@hcdataworks.com
HEALTHCARE RAPID READ
hcdataworks.com | 1.877.979.4239 | 1801 Watermark Dr. Suite 250 Columbus, OH 43215 | info@hcdataworks.com