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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
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Define Budget Strategy

Aligning with corporate strategy, seed the organizational budget with high level targets such as revenue, margin, and working capital.



Allocate Targets
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Allocate Targets

Assign targets across department, organization, or cost center using allocation rules such as gross revenue, margin, bed numbers, space occupation, budgeted headcount and full time employee.


Determine Baseline
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Determine Baseline Assumptions

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



Create Bottom-Up Plans
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Create Bottom-Up Plans

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


Validate Assumptions
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Validate Assumptions

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


Drive
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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
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Monitor and Consolidate

Automatically route approval requests based on preset rules. Consolidate, review, and roll up submitted budgets to the next level.


Approve Budget
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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.


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