“Sustaining a broad portfolio of service lines may no longer be a viable option for hospitals and health systems”. 1 According to HFMA’s recent financial planning newsletter, discussing the viability of a service line can be difficult for healthcare executives, board members and clinical leaders. The article encourages an analysis many metrics that need to be evaluated such as competitive position in the market, volume of patients, reputation, and more.
What data is being used to support these discussions? Ideally, a provider has strong financial analytic platform in place that provides transparency to operational and financial data sources to enable a view of the business transactions and their impact to direct and indirect cost and profitability of a service line. A platform such as Oracle’s Hyperion Profitability & Cost Management gives organizations the power of the Essbase analytic engine to build and interrogate these business models.
Perficient is uniquely positioned to provide thought leadership to help drive these solutions to meet your organization’s needs. Visit us at booth #401 at OpenWorld 2013 #OOW13 in the Moscone South Hall to “See the Future” and learn how Perficient can help implement the Oracle Hyperion solutions.
1 HFMA’s Fall 2013 Strategic Financial Planning newsletter
