Business Context
Enterprise performance management (EPM) helps organizations measure and manage performance. It aligns strategic goals to operational, financial, and risk management activities. Such an integrated management approach accelerates growth and safeguards an organization’s business reputation.
Discover how Mastek helped The King Faisal Specialist Hospital & Research Centre (KFSH&RC) reimagine its EPM system and decomplex the digital.
The King Faisal Specialist Hospital & Research Centre (KFSH&RC) is the Kingdom of Saudi Arabia’s (KSA’s) leading specialized medical care provider. The publicly owned hospital is among the top ranked hospitals in the region and across the world.
The Situation
Modernizing an ‘on-premises’ EPM system to comply with mandated changes in healthcare costing.
The KSA Ministry of Health had introduced a new mandate around healthcare costing guidelines. KFSH&RC needed to upgrade its onpremises EPM solution to Oracle Hyperion Profitability and Cost Management (PCM) immediately to comply with the ministry’s new costing guidelines. The challenge was to incorporate the KSA Case-mix standards into the Hyperion application.
The Solution
- Reciprocal cost allocation
- Grouping of cost centers into predefined standard cost groups
- Bucketing of accounts in standard defined account groups
- Single application for three entities
Our digital transformation journey with Mastek will bring significant value to our customers. As a result of this implementation, our healthcare services will become more efficient, flexible, cost-effective, and transparent.
– A senior executive of KHSH&RC
Our digital transformation journey with Mastek will bring significant value to our customers. As a result of this implementation, our healthcare services will become more efficient, flexible, cost-effective, and transparent.
– A senior executive of KHSH&RC
The Outcome
Delivering better healthcare planning at optimized costs powered by a simplified EPM system.
This project established Mastek as the first implementation partner of its kind in the KSA region. The scalability of the solution, along with Mastek’s deep understating of the healthcare industry helped KFSH&RC to successfully incorporate the ministry’s recent mandates.
Mastek’s solution enabled KFSH&RC to:
- Standardize its costing methodology
- Optimize cost through flexible modeling of profitability
- Achieve better healthcare services planning through Informed decision-making
- Execute uniformed reporting across the organization
