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.
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
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.
Implementing Oracle Hyperion PCM to deliver regulatory compliance.
After assessing multiple vendors, the client selected Mastek as its partner of choice, guided by Mastek’s ‘decomplex digital’ approach towards digital engineering services and proven track record in the healthcare space. Its extensive partner network and proven longterm relationship with KFSH&RC were other deciding factors.
Mastek successfully integrated the updated version of Oracle Hyperion PCM over KFSH&RC’s existing EPM solution to meet KSA’s regulatory compliance requirements. It introduced the following features to ensure compliance:
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
The solution enhanced financial reporting and consolidation, flexible cost modeling and profitability, and cost management and revenue allocations across healthcare institutions within the group.
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