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Oracle Modern Best Practice for Healthcare PayerPeriod Close to Reports

Reduce Your Close Time by 80%
Reduce Your Close Time by 80%

Learn how customers have achieved significant reductions in close time with Oracle’s cloud-based financial applications.

Period Close to Financial Reports

Operating under strict regulations, healthcare payers need timely statutory reporting. Oracle Modern Best Practice for Healthcare Payer—Finance enables you to create financial statements compliant with regulatory requirements—in days instead of weeks. Leverage mobile, social, analytics, and the cloud to control the close status by monitoring and interacting with your entire organization, finalizing any outstanding transactions and exceptions. Review and confirm statutory and management reports for each subsidiary and government agency. Securely socialize the period close with your extended team.


Close Subledger
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Close Subledger

Monitor the close status throughout the organization. Interact on and finalize outstanding subledger transactions and exceptions.


Pro-Forma Close Ledgers
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Pro-Forma Close Ledgers

Prepare and review preliminary statutory statements (such as balance sheets, income statements, cash flow statements, and premium schedules). Prioritize outstanding transactions based on initial results.


Reconcile Accounts
Mobile. Analytics. icon Mobile. Analytics.

Reconcile Accounts

Reconcile subledgers to the general ledger, automatically matching transactions to entries.


Close Ledgers
Mobile. Analytics. icon Mobile. Analytics.

Close Ledgers

Automatically route close tasks to task owners. Collaborate to streamline the close for each entity. Monitor close status throughout the organization.


Consolidate Subsidiaries
Consolidate Financial Statements icon Mobile. Analytics.

Consolidate Subsidiaries

Transform each subsidiary’s results to the corporate chart of accounts. Revalue nonmonetary balances and translate them to the corporate currency. Eliminate intercompany activity and minority interest.


Review and Confirm Financial and Management Reports
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Review and Confirm Financial and Management Reports

Review consolidated results using the same key performance indicators (such as average-cost-per-claim, customer satisfaction, and claims ratio) and reports as each subsidiary (where applicable). Enter final adjustments.


Publish and Securely Share Financial Statements
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Publish and Securely Share Financial Statements

Distribute statutory statements to the state insurance agency and all internal interested parties. Incorporate feedback using secure social collaboration.


Update Financial Forecast
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Update Financial Forecast

Modify forecasts and financial plans in light of the results from the just-closed period.


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