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Strategic Budgeting & What-if Modeling

Take the Guesswork Out of Strategic Budgeting

Wins with Oi Strategic Budgeting & What-if Modeling

Organization

  • Simple, case-level planning and budgeting
  • Save time quantifying strategic and performance improvement initiatives
  • Easy evaluation of decision impact on staffing, resources, and financial outcomes
  • Improved performance metrics including ALOS, readmission rate, bed occupancy, and asset utilization
  • Improved reaction time to value-based care contract changes
  • Optimized adjustments to staffing shortages
  • Expand, add, or reduce service lines with confidence
  • Plan in decades, not months or years

It

  • Low-impact implementation
  • Minimal maintenance
  • No software installation: Our browser-based technology means you don’t have to worry about installing software on any of your client workstations.

Why Strategic Budgeting & What-If Modeling with Oi

This module stands out from other options for the sheer fact that all data flows in from other Oi modules. This establishes high confidence levels thanks to “honest data” that has been viewed and vetted before you begin constructing any budgets or building hypothetical scenarios.  

Get to Know Strategic Budgeting & What-if Modeling

Tracking financial outcomes is a pleasure with the Oi Financial Performance module.

You’ll have streamlined access to general ledger data, journal entries, and sub-system detail as well as financial statement-based formats that encourage flexibility and ease of use.

This adaptable module includes Oi’s dynamic drill-down functionality, empowering your users to make the decisions that keep your organization financially healthy and supporting the quality care you’re known for.

Features That Make a Difference

Forecasting

  • Develop alternative scenarios for comparison and evaluation of potential impact to staffing, other resources, and financial outcomes
  • Ability to perform what-if scenarios for changes in
    • Case mix
    • ALOS
    • Patient utilization
    • Rate changes
    • Reimbursement
    • Multiple other scenarios

Planning

  • Allows users to build base models incorporating charge-level patient utilization and revenue, net revenue, and unit by cost type
  • Inflation factors can be applied at the cost type level, with a pro forma income statement for up to ten years
  • Ability to add or subtract physicians or utilization improvements
  • Ability to create or reformulate department budgets using enterprise-wide encounter utilization and cost data
  • Create department and account level “guideline” operating budgets using strategic budgeting functionality
  • Push-Down analysis to evaluate the model before creating a guideline budget
  • Flexible roll-up structure to meet modeling needs and match strategic planning initiatives

Self-Service Reports

  • Side-by-side reporting for comparison with drill-down through the rollup structure (down to charge-level detail)

IT

  • Developed in a 100% Microsoft environment
  • Uses the latest Microsoft and browser technologies, including Microsoft SQL Server
  • Oi delivers full support for the browsers your organization uses: Internet Explorer, Edge, Chrome, Firefox, and Safari.

Support

  • Support services with a guaranteed initial response time ranging from 4 working hours to 24 working hours depending on the request
  • Oi Pulse: We proactively monitor your system, 24/7/365, to make sure all your data feeds are functional, disk space is sufficient, and memory is plentiful.

Integrates with all other Oi modules

Oi Strategic Budgeting & What-if Modeling: In Depth

Providing simple, powerful case-level planning, What-If Modeling & Strategic Budgeting is our capstone module and a cornerstone of smart healthcare decision support.

This module can be used for myriad what-if analyses and forecasts to quickly quantify strategic and performance improvement initiatives, develop alternative scenarios, and keep your organization ready to respond to a constantly changing reimbursement environment.

Like all Oi modules, What-If Modeling & Strategic Budgeting is built on endlessly flexible functionality that equips your users to create the base models they need to envision and chart any number of variables they choose — users can apply inflation factors at the cost type level, adjust models for anticipated changes at various “nodes” throughout the roll-up structures they define (according to custom specifications), and view their forecasts in a pro forma income statement for up to ten years.

The true beauty of this module is the role it plays in your budgeting. What-If Modeling provides strategic budget functionality that aligns precisely with your organization’s plans, creating department and account level guideline operating budgets. Our proprietary Push-Down Analysis evaluates the model before creating the guideline budget, ensuring that your calculations are reliable, honest, and optimizing your decisions at every iteration. Your models also have the ability to create multi-year forecasts based on year-by-year adjustments to rollup values and inflation factors.

Oi on the Ground

Columbia Memorial Hospital Steps Into a New Era of Financial Management With Organizational Intelligence Decision Support

Optimizing With Oi

All Oi modules work together to optimize your healthcare finance decisions, but these achieve the best synergy with Oi Strategic Budgeting & What-if Modeling. Click to learn more.

Patient Utilization and Clinical Financial Performance

Profitability analysis by service line, physician, case type, payor, and more, combining information from your billing and medical records systems with unit costs calculated in Oi.

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