Case Study: Lake Region Healthcare achieves streamlined, automated budgeting and timely financial reporting with Strata Decision Technology

Lake Region Healthcare - Customer Case Study

Lake Region Healthcare, a 108‑bed regional hospital in Fergus Falls, MN, faced the imminent sunset of its legacy budgeting application and needed a more flexible, automated solution that would preserve existing workflows. The organization selected Strata Decision Technology’s Axiom EPM to replace the outgoing system and support its complex budgeting, staffing and value‑based payment processes without disrupting current models.

Strata Decision Technology implemented Axiom EPM to mirror Lake Region’s functional budgeting levels, automate formerly manual Excel consolidations (including value‑based physician payments), and provide customizable worksheets that automatically populate historical data. The result was faster, more accurate budgeting and reporting—finance can now generate bi‑weekly department statements and monthly board reports, reduce manual entry and error risk, and free staff time and stress—while retaining complete ownership and flexibility of the system.

Lake Region Healthcare

Ed Strand

Chief Financial Officer