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RESOURCES CATEGORY: Healthcare

PREDICTif Solutions to Present at Oracle OpenWorld 2015

EVN

oracle

 

PREDICTif Solutions, a Houston-based technology consulting firm, today announces its upcoming presentation at Oracle OpenWorld 2015. The conference, held from October 25 to 29 at the Moscone Center in San Francisco, CA, will be a premier event for business and IT professionals to learn about Oracle technologies through the interactions with Oracle and its business partners. PREDICTif’s CEO, Jeff Huang, VP of Global Sales, Karl Harrocks and OEID Practice Lead, Jimmy Philip will represent PREDICTif at the conference, meeting customers and Oracle colleagues.“This year we are very excited to have two of our customers, Wilsonart and Cox Automotive, speak on our behalf and share with our customers and partners their successes with PREDICTif. The Wilsonart story is featured on the September issue of Oracle Profit magazine, describing the incredible journey that Wilsonart and PREDICTif travelled together to build a fully integrated EPM, BI and Big Data solution” said Huang.

“PREDICTif has built a lot of successes in our three core practices, EPM, BI and Information Discovery/Big Data last couple of years.” , said Harrocks, “We are excited to leverage this platform to share our extensive experience in Oracle cloud offerings and Big Data Discovery. Whether we’re sharing our knowledge or learning from others, it’s our continuous goal to grow as a thought leader in the age of Big Data and bring this advantage to our customers.”

Scalable financial reporting solution for healthcare management

NWS

PREDICTif delivered a scalable financial reporting solution for a leading health management services and equipment company

CUSTOMER:

A leading health management and diagnostic services and equipment company.

REQUIRED CAPABILITIES

  • Financial consolidation and reporting
  • Interactive analysis
  • Forecasting and Budgeting
  • Cognos TM1 Web

CHALLENGES

As one of the leading construction multimedia companies, this customer is faced with the following challenges: inefficient central financial reports, reliance on manual inputs, and cumbersome Excel intensive reporting tool. With financial data coming from 8 different data sources, a central reporting tool to consolidate all the reports is needed. The business is presented in six platforms and each platform gets the data from its own data source.

The chart of accounts is compiled from a string with over 20 characters.  The accounts dimension hierarchy was set up in such a way as to hinder reporting leading to miss interpretation of data and errors in reports.  Each of the six platforms has their own chart of accounts and reporting method making it difficult to consolidate in a single tool. Therefore, a lot of manual methods are involved in creating reports.   Heavy reliance on Microsoft Excel to input budgeting data is present.  As a Solution, PREDICTif Solutions proposes an end to end solution to centralize the financial reporting system to provide budgeting and forecasting for the organization.

SCOPE

  • The objective of the project was to deliver a solution that leveraged TM1’s in-memory OLAP capabilities and simplified the monthly financial consolidation and reporting process.
  • Centralized, efficient and ease of use access application which can reduce preparation time. Instead of spending time on preparing reports, users can now focus on analyzing data.
  • Instill ‘one version of the truth’ consolidation reporting system that can be applied to six platforms
  • Provide a proficient budgeting and forecasting web based process that allows users to input data at the line item level.
  • Give ability to end users to build and analyze reports without reliance on IT or the Accounting department

SOLUTIONS

After evaluating several world class solutions, IBM Cognos TM1 was selected for a number of reasons – one of them being that IBM Cognos TM1 provides a real-time approach to consolidating, viewing, and editing enormous volumes of multidimensional data.

PREDICTif was engaged to provide an end-to-end solution delivering 25 Cubes with dimensions ranging from 5 to 15 in order to provide Financials and Assumptions models. Changes in financial forecasts, assumption metrics and indirect expenses were made via customizable Excel templates as well as directly through the TM1 interface.   Reports created both in TM1 and Excel were readily accessible through the web with no additional effort.

  • PREDICTif Solutions was able to create a set of multidimensional cubes utilizing OLAP technology that can dynamically slice and dice through data sources.
  • Design a user-friendly excel input templates which can access through TM1 web. The cubes support consolidation and reporting of both budgeting and forecasting data as well as allocation.
  • An automated data extraction using by TI processes (ETL) tool that can update multi dimensional cubes from 8 different data sources.
  • Users can use dimension editor as primary method to maintain or update dimensions that are not from the source system
  • Setting up different instances for security purposes and separate the finance consolidation modules, budgeting applications and compensation modules will be given access by corporate controller.
  • Substantially reduce time spend on creating monthly financial reports. Reports are easily access and produce with little or no reliance on the accounting and IT department.
  • Provide a real-time consolidation reports and offer an automated tool for producing annual budget and monthly forecast process.
  • Eliminate manual effort and errors of gathering data from multiple reports, spreadsheet and data sources
  • Provide power users training and knowledge transfer to the client so they will be able to build additional reports, budget templates and forecasting procedures out of the cubes.

RESULTS

PREDICTif solutions delivered measurable results to the client.  Now the client is able to provide “one version of the truth” in their reporting system.  Customers can now use the centralized financial reporting cube to analyze data across six platforms and they now have an automated ETL process to update dimensions and cubes from 8 different data sources.  The TM1 web based input budgeting and forecasting system also allows users across the enterprise system to input data at the line item level.  The application significantly speeds up the budgeting and forecasting process and empowers users to create or modify input templates without IT department influence.

  • With the deployment of the TM1 solution, the number of hours spent generating consolidated financial statements were reduced considerably, allowing more time for analysis;
  • Multiple disparate business units were brought together under one streamlined reporting process with a standardized company-wide output;
  • The finance group supported and upgraded the solution and the accompanying infrastructure through its own staff, without dependence on the IT support; and
  • Consolidated financial reports have obtained further reach as a result of the use of TM1 web.

Shanghai East Hospital Enhances Patient Care by Speeding Data Exchange and Analysis

NWS

Shanghai East Hospital Enhances Patient Care by Speeding Data Exchange and Analysis

 

CUSTOMER:

Located in the Lujiazui area, Shanghai East Hospital is a comprehensive health institution providing medical treatment, disease prevention, professional education, and research. The 850-bed hospital is one of the largest healthcare providers in the Pudong New District, employing 22 PhD tutors, 65 masters degree supervisors, and other senior healthcare professionals. The hospital provides up to 1.4 million outpatient services, 25,000 inpatient services, and 100,000 emergency treatments a year.

CUSTOMER QUOTE:

“Oracle’s business solutions streamlined the integration of our hospital’s management systems, lowered overall complexity and costs, enabled intersystem data exchange and connections, and made it easier to-share patient data”

Liu Bo, Director, Information Center, Shanghai East Hospital

CHALLENGES

Integrate hospital management systems to enable information such as doctor and technician schedules to be shared between different clinical and technical departments

Enable staff to improve the use of hospital resources by analyzing doctor and technician workloads and the use of medical equipment

Lower system development and maintenance costs

SOLUTIONS

Engaged Oracle Gold Partner Shanghai Yanhua Smartech to integrate disparate systems using Oracle Data Integrator and Oracle Service Bus, and to build an analysis system using Oracle Business Intelligence and Oracle Essbase

Facilitated a smooth information exchange between clinical and technical departments using the Oracle platform, facilitating up to 100 system queries per second

Enabled hospital management to analyze doctor and technician workloads, allowing accurate schedules that ensure a health professional is always available to treat patients

Optimized the use of medical equipment and avoided scheduling conflicts

Cut system development workload by 50%

Expect to explore the use of Oracle Business Intelligence Enterprise Edition and Oracle Essbase to analyze patients’ prescription rates for preventing drug misuse and analyzing prescription trends

Oracle BI Enterprise edition solution for UK Based Leeds Teaching Hospitals

NWS

Leeds Teaching Hospitals NHS Trust Builds Budget Reports Six Times Faster, Achieves 100% ROI in 12 Months

CUSTOMER:

Leeds Teaching Hospitals National Health Service (NHS) Trust is one of the largest hospital systems in the United Kingdom and includes Europe’s largest teaching hospital. The trust provides acute services for the population of Leeds; is a regional center for specialist services, including cancer and cardiac surgery; and treats more than 1 million patients each year.

CUSTOMER QUOTE:

“Oracle Business Intelligence Enterprise Edition enabled us to move to a balanced scorecard approach for strategy management and planning. The insights it provides will be critical to our ability to identify where we can make operational savings of US$33 million each year for the next four years while continuing to deliver excellent quality healthcare to the public”

Robert Angel, Assistant Director of Finance, Leeds Teaching Hospitals NHS Trust

CHALLENGES

Consolidate financial and non-financial clinical and corporate data from all hospital departments into balanced scorecards to monitor performance against national and local indicators, deliver timely and accurate statistical returns to the Department of Health and central NHS, and achieve near 100% accuracy for strategic planning

Allow senior clinicians in radiology, neurology, oncology, trauma, orthopedics, pathology and analysts to access and interrogate real-time cost and performance statistics for the medical procedures carried out by their departments, identify the cost of each patient episode, and compare costs and outcomes between departments

Enable hospital managers to drill down into financial data on both clinical spend and non-clinical expenses, such as administration, catering, cleaning, utilities, and estate management, and enable analyzing multi period extracts of expenses in each area and identifying variances against the plan

Minimize training requirements for nontechnical medical and administrative staff and deliver new analytical and reporting capabilities at the speed of user and business demand

Meet government target of saving US$33 million for the next four years without negatively impacting critical factors, such as the availability of beds, wait times for appointments with consultants, timeliness of operations, and the quality of patient care

Solutions

Used Oracle Business Intelligence Enterprise Edition to deliver personalized budget and Leeds Teaching Hospitals NHS Trust

Nominal roll reports via monthly dashboard e-mails, delivering extensive management reports to 750 clinical and nonclinical cost center managers from all disciplines

Enabled Corporate Finance to see individual transactions in just a few clicks, using Oracle Business Intelligence Answers to drill down from high-level summary to journal and subledger details, accessing scanned-in invoices from links embedded in the dashboard e-mail

Enabled all budget holders to render up to eight reports simultaneously on a single page in approximately three seconds, a process that took up to six minutes with the legacy system and involved opening multiple workbooks Gained immediate adoption from previously resistant users who gained competency with minimal training

Leveraged Oracle Business Intelligence Enterprise Edition’s intuitive development tools so key users could build new reports, meeting rapidly expanding user demand in 5 to 30 minutes instead of three to four hours using legacy tools

Used drag-and-drop functionality to feed quarterly balance sheet statements and statistics from the enterprise resource planning (ERP) system and other sources into Oracle Business Intelligence Enterprise Edition

Conducted rapid modeling of complex data to compile balanced scorecards

Benefited from Oracle Business Intelligence Answers to shift the focus from extracting data to gaining timely business knowledge

Studied period-on-period comparisons and analyzed price and volume element variances to assist forecasting and future planning with 99.9% accuracy for outturn projections based

Benefited from Oracle Business Intelligence Answers to shift the focus from extracting data to gaining timely business knowledge

Studied period-on-period comparisons and analyzed price and volume element variances to assist forecasting and future planning with 99.9% accuracy for outturn projections based on half yearly figures when tested on historic data over a three-year period

Conducted detailed spend analyses to determine how best to achieve US$33 million annual savings while minimizing impact on front-line services

Gained 100% payback on investment in Oracle Business Intelligence Enterprise Edition within 12 months, an outstanding achievement for a complex and large-scale solution

Progressed with Oracle Business Intelligence Delivers roll out to provide budget holders with automated e-mail alerts if KPI thresholds were being exceeded, facilitating exception-based management

Committed to further roll out of Oracle Business Intelligence Enterprise Edition to all hospital departments within two years

Leeds Teaching Hospitals National Health Service Trust chose Oracle over alternative business intelligence solutions for its unrivalled functionality and scalability and because it could extract data from multiple sources without manual intervention.

“The leading competitor tools that we evaluated could not offer automated data extraction. It would have taken an IT team member around one-and-a-half days per month to manually extract the data into spreadsheets and load it into the solution for analysis with alternative solutions. Or we would have been looking at solutions where revenue costs increased with each step change in functionality or data refresh,” Robert Angel, Assistant Director of Finance, Leeds Teaching Hospitals NHS Trust.

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