Largest Not-for-Profit Health Care System in Texas Aligns TMS with Growing Business
New York – Nov 22, 2016 – Baylor Scott & White Health, one of the largest health care systems in the United States, is standardizing its post-merger treasury operations on Reval’s scalable cloud platform for treasury and risk management. The company’s corporate treasury function will use Reval to automate cash management, bank connectivity, liquidity planning, intercompany loans, in-house banking and pooling, investments and debt, and interest rate hedging.
“We are still in growth mode at Baylor Scott & White Health, so having a treasury system that will meet our needs today and grow with us is key,” says Cindy Newton, System Director of Treasury Operations and Banking Operations at Baylor, Scott & White Health. “Not only is Reval nimble and scalable, but it is also a workhorse solution with many capabilities and analytics that will move us into the realm of where treasury should be operating.”
Baylor Scott & White is implementing a phased rollout within corporate treasury, which manages the day to day banking operation for the entire health care system. Its future plans include automation of transactions and general ledger integrations at the entity level.
“The treasury team at Baylor Scott & White Health are highly focused and experienced financial professionals who have a clear vision for how they want their integrated organization to function,” says John Mitchell, Executive Vice President, Global Sales, Reval. “We are honored that Reval is their treasury system of choice and are excited to partner with them to meet their needs today, and well into the future.”
About Baylor Scott & White Health
Formed from the 2013 merger between Baylor Health Care System and Scott & White Healthcare, the system referred to as Baylor Scott & White Health is the largest not-for-profit healthcare system in the state of Texas. With total assets of $9 billion* and serving a population larger than the state of Georgia, Baylor Scott & White Health has the vision and resources to provide its patients continued quality care while creating a model system for a dramatically changing healthcare environment. The system now includes 48 hospitals, nearly 1,000 access points, 6,000 active physicians, and 44,000 employees, plus the Scott & White Health Plan, Baylor Scott & White Research Institute and Baylor Scott & White Quality Alliance — a network of clinical providers and facilities focused on improving quality, managing the health of patient populations, and reducing the overall cost of care. For more information, visit www.baylorscottandwhite.com.
* based on unaudited 2015 fiscal year statements