The healthcare industry, also known as the medical industry or health economy, is a comprehensive integration of sectors within the economic system. Its primary purpose is to deliver goods and services aimed at treating patients through curative, preventive, rehabilitative, and palliative care. This industry involves the development and promotion of products and services that contribute to the maintenance and restoration of well-being. In its contemporary form, the healthcare sector encompasses three essential dimensions: services, products, and finance.

Use Case – Financial Planning and Analysis

The Company
An established hospital chain based in India operates a network of multiple hospitals in the surrounding region. The Healthcare institute owns and operates healthcare facilities across different locations in India. The healthcare institute operates ~20 hospitals which provide specialized health services across several medical branches.

  • ~$700M Revenues
  • 20 Hospitals
  • 4k+ Employees
  • 5k+ Doctors
  • Cumbersome data consolidation process, disparate excel models & dashboards running manually
  • Lack of agility and scenario planning capabilities to manage multiple versions of the data
  • Data quality and reconciliation issues between statutory, management, and regulatory sets of data
  • Manually intensive budgeting, forecasting, and reporting proces
  • Budgeting and forecasting

    Forecasting to predict future trends and changes in KPIs, and budgeting to get a roadmap for allocating resources to achieve financial goals.

  • Specialty Planning

    Internal reports used to run the organization, make business decisions, and monitor progress to make more accurate, data-driven decisions.

  • Scenario planning

    Proactive planning for uncertainties, enhance resilience, and adapt swiftly to changing circumstances.

  • Management reporting

    Internal reports used to run the organization, make business decisions, and monitor progress to make more accurate, data-driven decisions.

  • Planning Budgeting, Forecasting
  • Sales Planning at a granular Level at Unit & HO Level (Service profile, channel, patient volume, ARR, occupancy, ALOS, No of beds
  • Expense Planning – Driver-based Direct & Indirect cost planning
  • Captured as-is and to-be processes, reports and templates
  • CAPEX Planning by Asset category
  • Costing - Driver-based cost allocations
  • P&L Statement, Balance Sheet, Cashflow & Solvency
  • What-IF Analysis on the Financial Statement & Solvency KPIs Built complex models and reconciled data across multiple sources
  • Linked corporate plan to financial plans and business unit plans
  • Linked insights to LRP, AOP & Forecasts
  • Ability to perform “what-if” scenario
  • Alignment of Obj, plans & tactics
  • Forecasts now done on a rolling basis
  • End-of-month financial statements are updated every hour. Pre-Anaplan, this took 3x as long
  • Timely & Reliable business insights
  • Significant error reduction and save time and effort by maintaining one version of truth & discipline throughout planning process analysis and consensus planning
  • Able to complete Capacity Planning based on seasonality

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