I recently wrote a blog post on Perficient’s Healthcare blog about Healthcare Performance Management moving to the cloud and the impact the cloud is having on healthcare organizations. One of the components of my post was the reasons why CFO’s are considering the cloud. According to Gartner the issues driving CFO’s to consider the cloud are:
Faster Development = Increased ROI: A recent study by Nucleus Research reported that Cloud applications deliver 1.7 times the ROI of on premise applications including less consulting and infrastructure.
Quicker facilitation for Mergers and Acquisitions: Cloud applications deliver the agility to shorten lengthy business process alignment and more quickly realize the strategic benefits that drove the merger.
More Flexibility to Enter New Markets: Healthcare is now in a state of consolidation and realignment and cloud solutions can help organizations support newly established or acquire offices with many of the locked-in hardware, integration and support costs previously required.
Shifting from CAPEX to OPEX: With Cloud CFOs enjoy the advantage of a Operational Expense approach without the upfront hardware, software and other costs of a Capex (Capital expense) model. This both alleviates cash flow concerns and increases ROI.
Updates as a Service: Instead of lift and shift upgrade processes that must be planned for months in advance, with the cloud, they are automatic, secure and installed by the vendor on a regular basis.
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So what does Oracle have to offer? Lets take a closer look at Oracle’s Performance Management Cloud solution. We are all aware that the healthcare industry is faced with a changing regulatory landscape, transforming reimbursement models, and increasingly low margins. Because of this, it is critical for organizations to lower costs and make budgets more realistic by linking operational business drivers to both the annual plan and the rolling forecast. With Oracle Planning and Budgeting Cloud Service (PBCS), both health plans and providers can now break free from their reliance upon spreadsheets and other outdated processes by elevating their budgeting procedures to the Oracle Cloud. New and existing customers of all sizes can leverage Oracle Planning and Budgeting Cloud Service (PBCS) to deploy a world-class planning and budgeting solution in record time, without hardware costs or reliance on IT support. The solution is designed to provide a rapid return on investment, with less risk than a traditional implementation.
Want to learn more about healthcare performance management trends, including innovation in the cloud? Download our new guide 6 Healthcare Performance Management Trends and learn how your healthcare organization can thrive in a data-driven, cost-management culture.