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Copyright © 2018, Oracle and/or its affiliates. All rights reserved. Copyright © 2018, Oracle and/or its affiliates. All rights reserved.
F i n a n c e a n d H R : B e t t e r To g e t h e r i n t h e C l o u d
Mike AndrusVP HCM Transformation
Oracle
Mary KilmerExecutive Director
Oracle Healthcare
Copyright © 2017, Oracle and/or its affiliates. All rights reserved.
WAREHOUSING
You can’t think of business as usual
REGULATORY COMPLIANCE
BUSINESS
TALENT CRISISWORKFORCE ENGAGEMENT
SIN
GLE
VIE
WO
FYO
UR
AC
RO
SSA
LLC
HA
NN
ELS
WIN
CU
STO
MER
S
SUPERIOR SERVICE LEVELRECRUITING
PROCESS STANDARDIZATION
OP
ERA
TIO
NA
L A
GIL
ITY
COST REDUCTION
IFRS15 & ASC606
INVENTORY MANAGEMENT
Fin
anci
al C
on
solid
atio
n
GLOBALEXPANSIONPROFIT
MA
RG
IN
PLANNING, BUDGETING & FORECASTING
PATIENT EXPECTATIONS
TRANSPORTATION
IOT
LOGISTICS
SOCIAL MOBILE
SEGMENT OF ONE
TECHNOLOGY
CLOUD
MACHINE LEARNINGCHATBOTS
MO
BIL
E
ARTIFICIAL INTELLIGENCE
INTERNET-OF-THINGS
BLOCKCHAIN
HY
BR
ID
SAA
SSO
CIA
L
DATA
3D PRINTING
OPEXCAPEX
REAL TIME
VIRTUALREALITYIN-MEMORY
BIG
DA
TAAR
PREDICTIVEANALYTICS DATA
SCIENCE
DRONESAUTONOMOUS DRIVING
VO
ICE
CO
NTR
OLL
ED
SENSORY DATA
GESTURECONTROL
UB
ER
Walgreens
UHGAmazon
Berkshire
Drivers
MergersCVS
Ris
k
Connected Care
Population Health
2
Walmart
Healthworks
Niche Providers
Cohorts
Bundled Payments
Precision Medicine
ConsumerismQuadruple Aim
Consolidation
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• Complicated payment methodologies
• Complicated organizations
• New Operating Models
• Focus on community care
• Changing priorities
• Standardization
• Growth
New Drivers Necessitate New Management Skills
3
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• Challenges from new entrants
• Non traditional providers bring a new paradigm
• Focus on experience and consumerism
• Adoption of new technologies mean new skills
• Transformation
Convergence Necessitate New Management Skills
4
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Competition for Caregivers
▪ Healthcare Industry unemployment at 2.4% (1.1% hospitals subsector)
▪ Turnover second highest since 2000 for hospital CEOs: 18%
▪ Average total turnover rate for first year healthcare employees: 23.8%
▪ By 2020, nearly half of all registered nurses will reach traditional retirement
Sources: US Bureau of Labor Statistics (August 2018), American College of Healthcare Executives (June 2018), Nursing Solutions Inc. (2018)
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Linking Engagement to the Patient Experience
Leadership Development
Succession Planning
Mentoring
Staffing Models
Social Sourcing
Employee Engagement
Patient/Member Experience
58%Patient Safety Incidents between
engaged (top half) and disengaged
(bottom half) work units
+189%Median HCAHPS Overall rating
between bottom quartile and top
quartile organizations
Sources: Gallup 2016, Press Ganey 2017
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CHRO Top PrioritiesWith major shifts in focus on population health, reduction in cost and improving patient experience, healthcare leaders are challenged to bring innovative strategies and practices to their organizations to ensure agile business functions and a workforce ready to meet the needs of a rapidly changing continuum of care.
❖ Leverage analytics to link employee performance and engagement with patient experience, cost and safety
❖ Develop leadership models and talent pipelines to align with rapidly changing and expanding organization structures
❖ Develop strategic workforce planning processes to model effects of shifting case mix and service lines on staffing needs
❖ Create employee relations environment that promotes improved patient safety & experience and addresses clinician burnout
❖ Integrate an increasing number of mergers & acquisitions into the organization more quickly
❖ Streamline processes and data for the increasing demands of compliance reporting
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CFO Top PrioritiesWith major shifts in focus on population health, reduction in cost and improving patient experience, healthcare leaders are challenged to bring innovative strategies and practices to their organizations to ensure agile business functions and a workforce ready to meet the needs of a rapidly changing continuum of care.
❖ Streamline budgeting process and leverage rolling forecast as part of a more continuous financial performance monitoring process
❖ Support due diligence modeling and integration activities for mergers, acquisitions and affiliations
❖ Predict and manage the impact of changing payment models; value-based contracts, bundled payments, capitation
❖ Drive cost reduction accountability by getting actionable insights to leaders to help understand cost structures and inefficiencies
❖ Improve organizational access to clean, consistent & trusted data and cost measurement systems
❖ Develop models for prioritizing demands for raising and allocating capital, such as technology innovation
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Chief Human Resources Officer• Enables Workforce Strategy• Ensures Compliance &
Governance• Aligns Talent to Meet
Corporate Objectives• Designs Employee
Engagement and Retention Strategies
• Develops Performance Initiatives & Succession Strategies
Chief Financial Officer• Develops Business Strategy• Oversees Mergers &
Acquisitions• Executes Financial
Stewardship• Establishes Long Range
Planning• Drives Corporate Forecasts &
External Reporting• Delivers Strategic Reports &
Analytics
Office of the CEO
Decisions
Profit Focused
Cost Cutter
Data Driven
Healthy Business
vs.
vs.
vs.
vs.
People Focused
Cost Center
Culture Driven
Happy Employee
The Opportunity for Collaboration
Copyright © 2018, Oracle and/or its affiliates. All rights reserved.
Chief Human Resources Officer• Enables Workforce Strategy• Ensures Compliance &
Governance• Aligns Talent to Meet
Corporate Objectives• Designs Employee
Engagement and Retention Strategies
• Develops Performance Initiatives & Succession Strategies
Chief Financial Officer• Develops Business Strategy• Oversees Mergers &
Acquisitions• Executes Financial
Stewardship• Establishes Long Range
Planning• Drives Corporate Forecasts &
External Reporting• Delivers Strategic Reports &
Analytics
Office of the CEO
Decisions
Profit Focused
Cost Cutter
Data Driven
Healthy Business
vs.
vs.
vs.
vs.
People Focused
Cost Center
Culture Driven
Happy Employee
The Opportunity for Collaboration
Copyright © 2018, Oracle and/or its affiliates. All rights reserved. Copyright © 2018, Oracle and/or its affiliates. All rights reserved.
$Identifying Opportunity Executing Strategy
The “What” The “Who”
ActionableInsights“Why” and “How”
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CFO and CHRO Are Business Partners: Healthcare Management is a Team Sport
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Work Together to Achieve:
• Organization’s mission, vision and values supporting the goals and strategies that will push the organization forward
• Align the strategic planning with the talent needed to achieve new care models, new products, new technologies, new venues
• Synergy with Workforce Planning with Strategic Budgeting, Planning, and Modeling
CHRO and CFO: Business Partners for the New Healthcare
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Work Together to Achieve:
• Care Costing managing care giver resources most effectively across the continuum
• Develop and enforce productivity metrics that fuel efficiencies and cost reduction – adding to the bottom line and funding transformation
• Embrace, adopt, train for new innovation and technologies utilizing AI, Machine Learning,
CHRO and CFO: Business Partners for the New Healthcare
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Finance and HR Value Unified in the Cloud
OneUser Experience
One Data Model Universal
Reporting & Analytics
One Provider
Consistent look, workflow and reporting platform
More efficient and effective control with comprehensive security
Faster, easier innovation through a single provider
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Streamline Finance and HR Operations
Organizational Hierarchy
• Drive approvals globally with single real time organization hierarchy
Segregation of Duties
• Centralize segregation of duties and policies across global organization
Access & Provisioning
• Everything from systems to assets
Role-Based Reporting
• Access the right information at the right time and in the form that suits your role
• Improve data integrity and control with single global employee definition
Employee Definition
Role Definition
One Data Model
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Enterprise-wide Data that Provides the Full Picture
Direct real-time access to enterprise-wide data, no integrations required
Both preconfigured and easily customizable reporting & analytics
Customizable and role based dashboards
Correlated enterprise data that provides true business insights
Universal Reporting and AnalyticsHCM Data Finance Data
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Source: MIT Technology Review: Finance and HR: The Cloud’s New Power Partnership 2017
HR and Finance: Power Partnership
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Source: Aberdeen Group, Integrated HCM and ERP Solutions in the Cloud Lead to an Agile, High-Performing Healthcare Enterprise 2016
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Proven Value Delivered
Avg. Back-Office Productivity
Speed of Processing Variable Compensation
Month-End Closing Speed
Sources: Oracle Customer Case Studies available on Oracle.com, Nucleus Research 2016
Time to complete employee reviews
Recruiter Productivity
5X
30%7%
-50%-2 mos.
System Costs
-29%
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• Don’t stay in your traditional lane
• Respect each other’s point of view
• Speak with one voice- one governance approach
• Embrace cloud technology that supports a holistic operating model and business processes with a holisticplatform
• Plan and Execute the strategic vision where each dimension is valued- talent- revenue- etc.
• Utilize robust analytics with data visualization which Will support decision making and change management
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Let’s Discuss!Submit questions online
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