Posts Tagged ‘EPM’

Assembling the vast amounts of data in healthcare is both a technical and political challenge. I’ve worked at or with multiple hospitals where the finance and clinical teams never really collaborate and therefore the lens put on either domain is not terribly realistic. Truly merging and using the data requires organizational transparency and a commitment […]

I recently wrote a blog post called The Value of Care: The Secret Sauce in which I talked about the importance of having transparency of data. Costing is an evolutionary process perhaps starting with one type of procedure, one clinic or one service line or perhaps starting with a hybrid of costing methodology.   The great […]

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: […]

Healthcare enterprise performance management (EPM) creates visibility and accountability throughout the organization to identify financial performance gaps continuously, and quickly change course when needed. Embracing data-driven decision-making in a healthcare provider setting requires agile thinking to pinpoint and respond to the short- and long-term needs of the organization. In our latest infographic we we take […]

TREND #6: INNOVATION: MOVEMENT TO THE CLOUD Enterprise performance management solutions are in a period of rapid transformation to the cloud. According to Gartner, the issues driving CFOs 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 […]

TREND #5: VALUE OF CARE: THE SECRET SAUCE Costing is an evolutionary process that begins with one type of procedure, one clinic, or one service line, or perhaps with a hybrid costing methodology. The great news is that technology can help realize the goal of improved costing by allowing for the use of multiple costing […]

TREND #4: FINANCIAL TRANSPARENCY: MODERNIZE YOUR DECISION-SUPPORT SYSTEM As the healthcare industry moves toward value-based payment models and population health management, the need to innovate is paramount when it comes to cost management. Today’s CFO needs a new generation of decision-support technology solutions along with unprecedented access to transactional data to address tough questions across […]

TREND #3: DE-MYSTIFYING THE BUDGET PROCESS: PERFORMANCE MANAGEMENT LEADS TO PERFORMANCE IMPROVEMENT Budgets have traditionally been an aggregation of numbers molded into a financial statement to measure margins and then asking business leaders to explain actual-to-budget variances. Healthcare leaders are now building strategies to mature this process into a compilation of metrics that are representative […]

TREND #2: BUDGETS: DAILY, WEEKLY, MONTHLY, ANNUALLY OR CONTINUALLY? Historically, budgets were compiled once per year (if that often) and variance analysis was a monthly activity. Hospitals started looking at multi-year, year-over-year analysis first, then eventually actual-to-budget, reinforcing the variance analysis process once data became more transparent. This led to “re-forecasting” the budget into a […]

Link to Part 1 Link to Part 2 One of our clients’ favorite features of DRM is the ability to configure custom governance rules for their dimensions. Without DRM, many organizations are forced to use manual enforcement coupled with inadequate tools such as Excel, Access, and SQL procedures. Simply maintaining these processes becomes a job […]

TREND #1. DATA-DRIVEN DECISION MAKING: BUILDING A PARTNERSHIP BETWEEN CLINICAL AND FINANCIAL LEADERS Performance management is a series of business processes to correlate financial and operational data to manage the margin and drive informed business decisions that support sound strategic and tactical planning and execution. Many healthcare organizations are in the midst of a transformation […]

In spite of the push by vendors to move to cloud based applications, many organizations are still installing software in their own data centers. Oracle University offers a couple great classes on the Oracle Hyperion infrastructure, specifically for installation and configuration of Oracle Hyperion Financial Management and Oracle Hyperion Planning.  Both of these classes provide […]