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

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1 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 Mary Kilmer Executive Director Oracle Healthcare Mike Andrus VP HCM Transformation Oracle

2 OPERATIONAL AGILITY IOT MARGIN Financial Consolidation VOICE CONTROLLED Risk WIN CUSTOMERS SINGLE VIEW OF YOUR ACROSS ALL CHANNELS BIG DATA HYBRID MOBILE UBER PROCESS STANDARDIZATION SUPERIOR SERVICE LEVEL RECRUITING SOCIAL MOBILE TALENT CRISIS WORKFORCE ENGAGEMENT SEGMENT OF ONE PATIENT EXPECTATIONS BUSINESS REGULATORY COMPLIANCE PLANNING, IFRS15 & ASC606 BUDGETING & FORECASTING COST REDUCTION GLOBAL EXPANSION PROFIT INVENTORY MANAGEMENT TRANSPORTATION LOGISTICS You can t think of business as usual WAREHOUSING SAAS SOCIAL INTERNET-OF-THINGS MACHINE LEARNING CHATBOTS VIRTUAL IN-MEMORY BLOCKCHAIN AR CLOUD PREDICTIVE ANALYTICS TECHNOLOGY 3D PRINTING ARTIFICIAL INTELLIGENCE OPEX CAPEX DRONES REALITY REAL TIME DATA SCIENCE GESTURE CONTROL DATA AUTONOMOUS DRIVING SENSORY DATA Mergers CVS Healthworks Amazon Walgreens Berkshire Drivers Quadruple Aim Connected Care Google UHG Walmart Niche Providers Cohorts Bundled Payments Consumerism Precision Medicine Consolidation Population Health Copyright 2017, Oracle and/or its affiliates. All rights reserved. 2

3 New Drivers Necessitate New Management Skills Complicated payment methodologies Complicated organizations New Operating Models Focus on community care Changing priorities Standardization Growth 3

4 Convergence Necessitate New Management Skills Challenges from new entrants Non traditional providers bring a new paradigm Focus on experience and consumerism Adoption of new technologies mean new skills Transformation 4

5 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)

6 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

7 CHRO Top Priorities With 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. 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 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

8 CFO Top Priorities With 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. 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 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

9 The Opportunity for Collaboration Office of the CEO 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 Decisions 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 Profit Focused Cost Cutter Data Driven Healthy Business vs. vs. vs. vs. People Focused Cost Center Culture Driven Happy Employee

10 The Opportunity for Collaboration Office of the CEO 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 Decisions 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 Profit Focused Cost Cutter Data Driven Healthy Business vs. vs. vs. vs. People Focused Cost Center Culture Driven Happy Employee

11 $ Identifying Opportunity The What Executing Strategy The Who Actionable Insights Why and How

12 CFO and CHRO Are Business Partners: Healthcare Management is a Team Sport

13 CHRO and CFO: Business Partners for the New Healthcare 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 13

14 CHRO and CFO: Business Partners for the New Healthcare 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, 14

15 Finance and HR Value Unified in the Cloud Consistent look, workflow and reporting platform One User Experience One Data Model Universal Reporting & Analytics One Provider More efficient and effective control with comprehensive security Faster, easier innovation through a single provider

16 Streamline Finance and HR Operations One Data Model Organizational Hierarchy Drive approvals globally with single real time organization hierarchy Role-Based Reporting Access the right information at the right time and in the form that suits your role Segregation of Duties Centralize segregation of duties and policies across global organization Role Definition Employee Definition Improve data integrity and control with single global employee definition Access & Provisioning Everything from systems to assets

17 Enterprise-wide Data that Provides the Full Picture Universal Reporting and Analytics Direct real-time access to enterprise-wide data, no integrations required HCM Data Finance Data Both preconfigured and easily customizable reporting & analytics Customizable and role based dashboards Correlated enterprise data that provides true business insights

18 HR and Finance: Power Partnership Source: MIT Technology Review: Finance and HR: The Cloud s New Power Partnership 2017

19 Source: Aberdeen Group, Integrated HCM and ERP Solutions in the Cloud Lead to an Agile, High-Performing Healthcare Enterprise 2016

20 Proven Value Delivered 5X 30% 7% Speed of Processing Variable Compensation Recruiter Productivity Avg. Back-Office Productivity Time to complete employee reviews System Costs Month-End Closing Speed -2 mos. -29% -50% Sources: Oracle Customer Case Studies available on Oracle.com, Nucleus Research 2016

21 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 holistic platform 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 21

22 Let s Discuss! Submit questions online

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