As Ascension continues to integrate its national ministry, it is seeing the benefits of its Symphony solution – which standardizes business processes in the areas of finance, human resources and supply chain – and other initiatives to transform the organization. A focus on centralization, standardization, optimization and collaboration is beginning to be reflected in Ascension’s financial results. As a result, Ascension was able to report a strong first quarter fiscal 2015, with a recurring operating margin of 3.3 percent, excluding self-insurance trust investment return. These results support Ascension’s Mission of serving all persons with special attention to those who are poor and vulnerable.
Across the System, Ascension’s Health Ministries are engaging in value-based healthcare delivery through a variety of approaches. As Ascension broadens its healthcare delivery platform to provide person-centered care across the care continuum, it is driving greater efficiency through consolidation of services, creating joint venture partnerships, engaging in regional clinically integrated systems of care, and pursuing new opportunities for growth.
The Affordable Care Act also is having a positive impact. Medicaid expansion – particularly in Michigan, Illinois, Washington and the District of Columbia – has helped reduce both the percentage of Ascension revenue that comes from those who pay their own charges directly, and uncompensated care. This has resulted in an increase in net patient service revenue across Ascension.
For the full Management’s Discussion and Analysis, click here [PDF].
