Maimonides Medical Center is a non-profit, non-sectarian hospital located in the New York City borough of Brooklyn. Maimonides is both a treatment facility and academic medical center with 711 beds, and more than 70 primary care and sub-specialty programs.
Business Challenges
- Limited Flexibility and Antiquated Processes – Multiple department managers involved in Excel-based budgeting process with lengthy cycle times and limited flexibility to adjust models to meet changing needs
- Manual Offline Planning – Excel-based budgeting process frequently resulted in inconsistent data, corrupted files, and lagging information
- Siloed Processes – Lack of integration between departments, data sources (PeopleSoft), and technology increased the manual effort to integrate data for the yearly budget cycles
Solution
- Cloud EPM Planning – Implemented to give the ability to create a Consolidated P&L and detailed Workforce Planning
- Integrated Planning Process – Between workforce (employee level planning), detailed revenue planning and the P&L
- Enhanced Analysis – Automated framework for the revenue planning process utilizing key metrics
Impact
- Reduced Budget Cycle Times – Cloud-based planning platform significantly reduced manual effort to input and consolidate budget data across departments
- Improved Budget Data Quality and Accuracy – Systemized calculation logic to support standardized spreading and trending methodologies along with consistent calculation of revenue and compensation data
- Increased Visibility to Budget Details – Centralized cloud-based planning platform provides real-time visibility into budget details across the organization
