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The heavily regulated healthcare industry requires providers to be agile, timely, and accurate when it comes to financial reporting. With Oracle Modern Best Practice, you can use mobile, social, analytics, and the cloud to rapidly catch regulatory compliance issues. Easily discover transaction anomalies across key performance indicators, like supplies as a percentage of operating budget and supply expense per discharge. Retrieve operational statistics, such as units of service, visits, and procedures for reporting, flex budgets, key ratios, and allocations. Pinpoint budget variances early and resolve them quickly before the period close, preventing expensive mistakes. Collaborate, review, and analyze the day’s activities and forecasts via mobile social networks to anticipate issues and reduce any potential delays.
Automatically post all approved subledger activity to the general ledger to ensure current account balances.
Receive automatic notifications of irregular transactions related to key performance indicators, such as supplies as a percentage of operating budget, supply expense per discharge, FTEs per occupied bed, agency percentage, overtime percentage, and days cash on hand. Review and research using secure social networks.
Automatically collect statistical information, such as the number of units of service, visits, procedures, and operating room minutes. This data can be used for reporting, flex budgets, key ratios, and allocations.
Use any mobile device to secure real-time review, analysis, and interaction on daily financial activities, such as cash position and expense progress versus budget.
Department managers access daily reports to view budget variances and time-tracking data and make adjustments before the period end. Collaboratively analyze any anomalous transactions.