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Facing regulatory reforms and patient demands for greater quality care, it’s critical that healthcare providers have a modern approach to reporting and forecasting. Oracle Modern Best Practice helps you stay ahead of the compliance curve, remain competitive, and improve margins by leveraging mobile, social, analytics, big data, and the cloud. Create insightful and timely financial reports from a unified platform to proactively monitor organizational performance. Quickly review actuals versus forecasts and assess variances where threshold inputs have been exceeded. Accurately identify variance trends in historical data, such as seasonality. Sandbox what-if scenarios to discover potential issues and reforecast with period flexibility (quarterly versus monthly or daily). Securely socialize the financial plan with stakeholders anytime, anywhere—from any device.
Report actuals by entity, line of business, department, or other category. Report on a monthly, daily, or other time period.
Create new forecast scenario by updating the current period forecast with the most recent actual data.
Retain the forward outlook by extending forecast horizon to incorporate actuals.
Review actuals versus forecasts. Assess variances where the threshold inputs have been exceeded.
Drill into variances (such as back to source system) and analyze trends in historical data (such as seasonality) by using built-in time series regression analysis.
Generate sandbox scenarios using what-if assumptions based on trend analysis and the latest information from across the organization.
Use workflow, dashboards, and alerts to monitor forecast progressions. Consolidate into an integrated forecast for the organization.
Based on the latest forecast, update the financial plan and communicate it to the lines of care. Report to stakeholders with a narrative context.