Financial Management Solutions for Healthcare
Keep a steady finger on the pulse of your operations
Today’s healthcare systems have undergone significant changes to business and revenue models. To keep pace, you need timely and accurate budgeting, planning and forecasting processes so you can stay on top of the patient, procedure and staffing costs that are critical to the future operations of your organization.
With CCH Tagetik, health systems worldwide have dramatically reduced the time, effort and costs of budgeting, planning and forecasting - not to mention, produced more actionable reports. Easy-to-use and designed for the healthcare industry, CCH Tagetik is a simple solution for your reporting processes.
Benefits
Quickly implement corporate strategies while managing and controlling overall performance
Quickly create detailed costing analysis, drilling down by physician, healthcare provider and/or operating unit
Improve patient revenue planning by breaking down and identifying KPIs for both operational and non-operational variables
Simplify reimbursement modeling, workforce management, driver-based and capital expenditure planning
Effectively manage costs with activity-based costing models across departments like emergency and outpatient care
Easily comply with changing reporting regulations and new governance requirements
CCH Tagetik's unified performance management solution for Healthcare delivers
Integrated Business Planning
Use a single enterprise planning solution to integrate sales forecasts and operational plans with financial goals and corporate objectives. Create operational models and perform ‘what-if’ scenarios to optimize costs, margins and profitability; while dynamically updating financial plans, budgets and forecasts.
Capital Planning
Align finance with operations and standardize the capital plan and budget. Assess the impact on cash flows and profitability for purchasing or replacing equipment, funding research and development, opening new - or closing other - care units or facilities, other making other major expenditures.
Cost Allocation & Profitability Analysis
Allocate direct and indirect costs for more accurate profitability analysis by HMO, hospital, care giver, service or region. By applying indirect (activity-based) costs and expenses to cost centers, entities, services, etc - finance gains a better picture of financial drivers and outcomes.
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Business & Operational Modeling
Model different operational and business scenarios, assess the impact and outcomes, then instantly incorporate results into budgets, plans and forecasts. Real-time data updates allows for variance analysis and what-if scenario playing without waiting for data synchronization, recalculation or reconsolidation.
HR Planning
Get insights into how workforce changes, turnover, overtime, contract and detailed employee-level variables (salary, sick leave, bonus, benefits, new hires, transfers, etc.) affect the strategic plan, P&L, cash position and operational productivity. With CCH Tagetik, finance, HR and operations are aligned.
Seamless Close-to-Disclosure
Cut days off the monthly close cycle and accelerate management and external reporting with a single solution. Confidently manage and control journals, adjustments, intercompany eliminations and reconciliation, then seamlessly produce disclosure reports that provide drill-down to the underlying data.
Reporting & Analytics
With easy to use, packaged templates, all contributors - including non-financial and non-technical users - can report on key metrics and performance with CCH Tagetik’s reporting toolset. Create custom reports, interactive dashboards, visualizations and ad hoc analytics - without depending on IT.
Unified Corporate Performance Management
Automate and modernize key financial management processes using a single, enterprise software solution. CCH Tagetik is the only solution that is purpose-built for finance, optimized for non-financial users and available on the Cloud, on-premise and your mobile device.
CCH Tagetik Software is trusted by leading companies in the HEALTHCARE industry
Consolidation, Disclosure Management
Budgeting, Planning & Forecasting, Cash Flow Planning, Consolidation
Financial Close (on cloud)
Budgeting & Planning, Disclosure Management
Budgeting
IFRS Consolidation, Budgeting, Disclosure Management
Testimonials
Customer Quotes
HUNTERDON MEDICAL CENTER
John Torley - Director, Financial Planning and Analysis
“CCH Tagetik has provided Hunterdon Medical Center with a unified solution that is able to meet our budgeting and cost accounting needs in a timely fashion. From the beginning, CCH Tagetik was a company that Hunterdon Medical Center felt we wanted to do business with because CCH Tagetik cared about the success of our business.”
HUNTERDON MEDICAL CENTER
John Torley - Financial Manager
“CCH Tagetik has reduced some of the issues we’ve had in the past when nobody could remember who or why changes were made. This has been especially beneficial to me because in February, a VP called asking me why an expense was eliminated from the budget and I was able to audit and find out that it was the same VP that removed the expense. It was a quick call.”
NEXUS DAY HOSPITALS
Steven Evans - chief financial officer
“Being on the cloud was another key factor that meant we could go live immediately with zero IT involvement. The system is very intuitive and the fact that it works through Microsoft Excel has enabled me to begin using it with virtually no training.”
NEXUS DAY HOSPITALS
Steven Evans - chief financial officer
“Our hospitals all use different operational and financial applications, so I needed software that could very easily collect data from multiple systems, consolidate and produce highly formatted reports from one source. I am delighted with CCH Tagetik in all of these aspects.”
Browse our Resources
Brochure
tagetik for healthcare
CCH Tagetik has helped companies worldwide dramatically reduce the time, effort and costs of budgeting, planning and forecasting.
Case Study
The Divine Budget - Hunterdon Medical Center Customer Story Yes, I’d like to know more about CCH Tagetik
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