Healthcare Services
How Templeton’s Solutions Improve Financial Performance
Healthcare providers need to implement solutions, particularly in financial operations that include clear processes, individual roles and systems. The systems can be used for electronic insurance claims, lab requisitions, lab results, and electronic patient billing. As a result, the organization can enjoy increased profits from its operations.
Contact Us to learn more about improving your healthcare services financial performance.
Critical Issues
Some critical issues in the healthcare industry today include containing the rising cost of medical care. Healthcare officials expect the cost of medical care to continue to grow between 7 and 10 percent annually through 2010, according to First Research™ data. Physician care, hospital services, and prescription drugs are all expected to continue their unprecedented rise in costs. Rising costs and staffing shortages have led to eroding margins, which now average around five percent on this trillion dollar industry. The profits of a healthcare organization depend on a highly efficient operation where there is little room for error.
The participation of federal programs to pay for healthcare is on the rise and may rise if the US moves to more federally funded programs.
Key Drivers
Demographics and technology advances drive demand. The US is an aging population that will need more health care services. This is a labor-intensive industry where revenue per employee is an indicator of financial performance. The combination of employer-sponsored plans, individual insurance, individual payments, state government and national government programs creates a complex payment system that must be managed well.
Contact Us to learn more about improving your healthcare services financial performance.
Health Care Companies Benefit from Templeton Solutions
Financial management
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Provide strong financial controls and audit trails.
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Drill down from summary information to the corresponding detail.
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Adapt quickly to changing needs.
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Deliver reports customized to answer specific business questions.
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Create and manage budgets and forecasts at any level.
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Shorten the budget cycle.
Accounts payable
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Track and analyze extensive vendor information.
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Process payables efficiently.
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Make the most of vendor discounts while maximizing cash flow.
Fixed assets
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Record, track, and report on capital assets.
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Control asset retirement and transfer.
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Get full drill-down to the original vendor invoice.
Human resources management (HRM)
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Easily record, store, and access employee information.
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Automate payroll tasks.
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Track applicant references, education, skills, and interview information.
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Reduce administrative costs with HRM self-service capabilities.
Materials management
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Deliver the right supplies to the right place at the right time.
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Lower costs.
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Get deep visibility into material requirements.
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Reduce stock outages.
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Drive down inventory costs.
Cost control
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Streamline processes.
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Increase productivity.
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Simplify the exchange of financial information between organizations.
Compliance
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Achieve and maintain compliance with a broad range of regulations.
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Implement key practices and procedures throughout your organization.
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Capture and archive changes to all electronic data and documents.
Download Enabling the Information - Driven Healthcare Provider white paper.
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