Oracle Modern Best Practice for Healthcare PayerBudget to Approval

Optimize Payer Resource Allocation with Accurate Budgeting
Optimize Payer Resource Allocation with Accurate Budgeting

Budget to Approval

To maintain optimal financial performance, healthcare payers need to optimize resources. Oracle Modern Best Practice for Healthcare Payer enables you to leverage mobile, social, and analytics to create timely reports and make smarter decisions. Collaborate with your entire organization—underwriting, finance, HR, claims, sales, actuarial, and risk engineering to create more accurate budgets. Take advantage of the cloud for an easy platform to securely analyze and compare actual results against planned budgets.


Define Budget Strategy
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Define Budget Strategy

Using secure, role-based dashboards, review strategic corporate indicators (such as average-cost-per-claim, amount of pending claims, and net income). Perform what-if scenarios to define and link budgets for income (such as policy premiums, commissions, and investment returns) and outgoings (such as settlements and operating expenses).



Generate the Allocations
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Generate the Allocations

Allocate budgets across the organization (divisions, programs, line of business, and departments).


Maintain Budgets
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Maintain Budgets

Securely collaborate across the organization on budgets and key plan assumptions to deliver the desired net income, Assumptions include member/enrollment growth, expenses, and claims ratios.



Monitor and Consolidate
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Monitor and Consolidate

Monitor budget participants’ progress and approval status.


Approve Budget
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Approve Budgets

Approve the final organizational budget and communicate to all stakeholders.


Predictive Forecasting and Monitoring
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Predictive Forecasting and Monitoring

Automatic review of budget status. Analyze budget results with what-if scenarios.


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