Under the direction of a chief financial officer, the finance department’s major areas of focus are system financial reporting and cost effective access to capital throughout CHE. Other services include the coordination of internal and external audits for the system; the development and implementation of CHE policies and initiatives regarding budgeting, capital allocation and financial reporting systems of CHE; and developing long-range financial and capital plans for the system. The finance department also provides accounting services for the corporate office.

Services:

• Ensure applicable system and regulatory compliance
• Support system decision makers, governance and external stakeholders by providing accurate and complete financial information
• Perform business analytics
• Establish appropriate financial control and monitor these controls on a regular basis
• Effectively deploy information technology
• Define business process and internal control framework
• Provide prudent financial management of the organization’s assets and liabilities

The Chief Accounting Officer's role is to provide leadership and oversight in the areas of internal and external financial reporting, development of system-wide policies and procedures, financial and operating performance analysis, internal controls, third party reimbursement, decision support, external audit, tax services, and maintenance and support of financial applications.

Services:

• Provides oversight and management of the timely and accureate preparation and distribution of consolidated financial statements including interpretive financial and operational analysis
• Provide oversight and management of quarterly and annual reports for investor relations and other reports as required
• Policy development for all system-wide financial reporting and accounting policies and procedures
• provide leadership and guidance relative to technical accounting issues and pronouncements
• Provide leadership and management of the annual external audit process
• Provide leadership, management and oversight of the system-wide annual budget process
• Oversight of tax services and community benefit reporting
• Implementation and oversight of a system-wide decision support system
• Leadership and oversight of third-party reimbursement
• Oversight and support of the implementation and support of financial systems and applications

The department of Capital Strategy and Management provides oversight and managemebnt of CHE's Capital Structure by identifying strategies and tactics which will further CHE's Capital Management Cycle outcomes. In addition to developing and implementing asset allocation and liability management decisions, the department provides direction and oversight for the Strategic Financial Planning as well as the Capital Allocation process.

Services:

• Asset/Liability Management (asset allocation and liability structure and diversification strategies) that will manage balance sheet risk while maximizing surplus returns
• Oversight to Treasury functions (investments and cash management)
• Development of the Global Debt Strategy, including diversification of financing vehicles and management of various financial risks
• Development of long range financial and capital plans
• Development of the System Strategic Financial Plan
• Provide oversight and management of the Capital Allocation process
• Implementation and oversight of the Construction Planning and Management process
• Management of the CHE Master Lease Program
• Provide leadership and oversight for the Accounts Payable Share Services Center
• Policy development for Capital Structure, Capital Management and Strategic Financial Planning decisions

Claim services and clinical loss prevention assists in supporting CHE’s stewardship responsibilities by protecting its members’ financial, human, real and personal property assets by developing, implementing and evaluating cost-effective claims management, clinical loss prevention and risk management educational programs.

Services:

• The department oversees and directs the risk management quality improvement process to identify potential quality improvement opportunities through claims analysis, trending and information sharing to ensure that the RHCs are implementing appropriate quality improvement plans.
• CHE Claims Committee which provides oversight of CHE claims administration programs, membership includes RHC senior risk management executives, oversight of reporting, reserving and resolution of claims and suits, identifies quality improvement opportunities, and serves as a System risk management advisory group.
• Clinical Loss Prevention which includes risk management quality improvement process, case analysis and trending, risk management program assessments, legal/risk management consultation, and risk management "safe practices".

The revenue management department improves the performance of the revenue cycle for member hospitals throughout CHE. The revenue cycle is defined as those processes that support the patient account flow from time of scheduling or pre-registration to the point of cash collection. Improvements in financial results are achieved by focusing on accounts receivable and net revenue management.

Services include establishing cash acceleration and net revenue improvement targets and developing work plans focused on specific opportunities; standardizing key revenue management policies and optimizing revenue operating models; and managing a web-based revenue performance management system. Through the efforts of the Revenue Management Council, there is an opportunity to elicit breakthrough performance and to improve net revenue performance by delivering methodology and tools that promote hospital-specific, project-specific and system-wide revenue performance improvement.

Services:

• CDM and Accurate Billing Initiative
• Managed Care Contracting Intelligence Initiative
• Revenue Cycle "Best Practice" Standard Processes Initiative

The primary responsibility of the treasury services function is the development, implementation and management of the Consolidated Investment Program, the Pension Investment Program and the Centralized Cash Management Program, and the leadership and management of the CHE Fund Development Council. This also includes responsibility for the corporate reimbursement function and participation with other senior financial management in the capital allocation process and in the provision and monitoring of debt and related programs.

Services:

• Investments: Investment Programs that are overseen by an Investment Committee comprised of RHC representatives; a variety of investment strategies to accommodate various needs. Economies of scale that ensure lower costs and access to better investment managers, which will enhance investment performance over time. A directed brokerage and securities lending program which also reduce costs; and a Socially Responsible Investing program for the CIP that provides the assurance that these assets are managed in a manner consistent with CHE Core Values and Catholic social teaching
• Cash Management: A consolidation of all System entities' operating cash that optimizes efficient disbursement, liquidity, funds transfer, and short-term investment. They also monitor the cash flow and custody of the operating cash of each entity and provide for security and safekeeping. The result is significant economies of scale that yield lower fees and state-of-the-art technology and systems; a combined cash balance large enough to allow prudent investment in higher yielding securities; limited, short-term working capital at a low rate of interest; and unforeseen cah needs and negative positions automatically covered by a large central balance