Oracle Modern Best Practice for Healthcare ProviderBudget to Approval

Optimize Provider Resource Allocation with Accurate Budgeting
Optimize Provider Resource Allocation with Accurate Budgeting

Budget to Approval

To stay competitive, healthcare providers must provide top-notch patient care while reducing costs. With Oracle Modern Best Practice, you can leverage mobile, social, and analytics to optimize resource allocation with accurate budgeting and timely reporting. Make smarter decisions using built-in time series regression techniques to analyze trends in historic data, such as nursing floor productivity or the number of contract employees. Easily collaborate with stakeholders on unit budgets. Use what-if analysis to test key plan assumptions, such as ACA assumptions. Take advantage of the cloud for an easy platform to securely analyze and compare actual results against planned budgets.


Define Budget Strategy
Mobile. Social. Analytics. icon Mobile. Social. Analytics.

Define Budget Strategy

Align with organizational strategy by seeding the budget with high-level targets, such as revenue, margin, and working capital.



Allocate Targets
Mobile. Social. Analytics. icon Mobile. Social. Analytics.

Allocate Targets

Assign targets across department, organization, or cost center using allocation rules (such as gross revenue or gross margin) or a statistic (such as the number of beds).


Determine Baseline
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Determine Baseline Assumptions

Establish global drivers, such as supplier/drug cost increases or salary wage inflation. Set account-based forecast methodologies, such as growth rate year over year or percentage of another account.



Create Bottom-Up Plans
Mobile. Social. Analytics. icon Mobile. Social. Analytics.

Create Bottom-Up Plans

Use historical run rates and advanced predictive planning that incorporates sophisticated, time-series forecasting techniques. Include best/worst scenarios. Analyze variance to allocated targets. Manage tasks using a centralized dashboard.


Validate Assumptions
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Validate Assumptions

Validate plan accuracy using built-in time series regression techniques and comprehensive reporting capabilities to analyze trends in historical data, such as nursing floor productivity or the number of contract employees.


Drive
Mobile. Social. Analytics. icon Mobile. Social. Analytics.

Drive Consensus

Ensure alignment with strategic goals, such as specific physician specialties. Securely collaborate with stakeholders on unit budgets. Use what-if analysis to test key plan assumptions, such as ACA assumptions.


Monitor and Consolidate
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Monitor and Consolidate

Automatically route approval requests based on preset rules and get notifications of unit budget status. Review and roll up submitted budgets to the next level.


Approve Budget
Mobile. Analytics. Social. icon Mobile. Social. Analytics.

Approve Budgets

Approve the final organizational budget and communicate to all stakeholders, such as the Office of the CFO, physician groups, and Board of Directors.


Get Started