Oracle’s recent acquisition of Cerner demonstrates their investment and dedication to healthcare technology. While the industry as a whole covers organizations across providers, devices, pharmaceuticals, insurers, and more, Oracle Cloud EPM addresses these unique challenges with configurable business processes. Below are three Healthcare customers that demonstrate the breadth and depth of the Oracle Cloud EPM platform.
Implementation Project: Oracle Capital & Projects
SSI Group is a leading software provider for Revenue Cycle Management solutions, interfacing with hospital systems and insurance companies in the United States. Given their investment in software updates and data releases, the finance team needed better visibility into R&D spend and resulting revenue upon product release. SSI partnered with EPMI to migrate their capital expenses from R&D projects to Cloud EPM for enhanced visibility and accuracy of planned vs. actual data.
From a broader industry perspective, companies that provide services and technology to healthcare systems are constantly improving their offerings in order to support the growing options of medical services. For any organization whose revenue is dependent on alignment with new medical procedures, capturing R&D cost is critical to realizing profitability.
LSU Health Shreveport
Implementation Project: Oracle Workforce Planning
LSU Health Shreveport represents Louisiana’s leading medical research institution. As a public sector research-driven organization, the bulk of their costs are related to their workforce. By implementing Workforce Planning, LSU captures employee costs, forecast future job requisitions, and lifetime employee costs. There are a number of data points to consider when planning for employees, and the Workforce Planning module in EPM has prebuilt frameworks for planning across total compensation, 401k, benefits, training & more. Additionally, as a public sector entity, LSU adheres to GAAP accounting principles, which is supported by Oracle Cloud EPM.
Implementation Project: Oracle Account Reconciliation
Hillrom is one of the largest manufacturers and distributors of medical products around the world. EPMI partnered with Hillrom to migrate their aging Hyperion Account Reconciliation Manager instance to Cloud EPM – Account Reconciliations. Given their team’s emphasis on cost savings and access to new technology, the EPMI team migrated their customized ARM instance to Cloud EPM to capitalize on reduced maintenance costs and enhanced product functionality.
In an accelerated 12-week timeline, the EPMI team delivered:
- A centralized global database of account reconciliations
- 40% reduction in reconciliation volume
- 75% auto match rate for Intercompany reconciliations
- Reduced FTE allocation to monthly reconciliation process