Case Study: LifePoint Health achieves 80% faster, more accurate cost accounting with Strata Decision Technology (Axiom)

LifePoint Health improves cost accounting data accuracy and efficiency to drive strategic planning

LifePoint Health, a community hospital provider operating more than 60 campuses, faced rising costs, shrinking reimbursements, and a “black box” costing system that was time-consuming, manual, and undermined confidence in cost data. To address this, LifePoint Health selected Strata Decision Technology’s Axiom Cost Accounting and Decision Support to replace labor-intensive processes and deliver transparent, timely cost information.

Strata Decision Technology implemented Axiom to automate data processing, allocations, and reporting, producing service-line and payor analyses, contribution-margin metrics, and interactive executive reports. The change cut data processing and reconciliation from four weeks to four days (an ~80% reduction), enabled automated audit alerts for >2% variances, sped onboarding of new hospitals to about two weeks, and shifted staff time from auditing to strategic analysis—supporting decisions such as divesting four hospitals and improving payor negotiations.

LifePoint Health

Aaron Frazier

Manager of Strategic Resource Group