Closing the insurance gap

One of the top Medicare Advantage plans in California, this supplemental insurance not-for-profit wanted to lay the foundation for growth. For 40 years, this organization has been committed to providing health and independence. When the Centers for Medicare and Medicaid can’t cover everything, this health plan offers the benefits and services people need to close the gap. 

Like so many other healthcare organizations, this one maintained costly and disparate systems that relied on manual processes and significant staff support. It needed more than a secure back office; it needed to cut cycle time and streamline systems to position for future expansion and provide quality coverage for the people it serves. 

By implementing an Oracle Cloud-enabled solution, the organization could increase efficiency and prepare for the future by eliminating manual processes, closing quickly, and adding work flows to become more nimble as it grows. The new solution:

• replaces multiple systems with one unified system to improve services and operations
• achieves greater transparency and compliance through better reporting and analytics
• shifts to more proactive business decision making based on accurate, single source data
• continuously drives improvement in the finance function through the power of SaaS and eliminates the need for costly upgrade projects every few years
• achieves cost savings by removing upfront costs
• drastically reduces close cycle and improve the procurement process through general ledger automation.

For 40 years, this not-for-profit has been improving access to care for people in California through supplemental insurance, but archaic, inefficient back-office systems were holding them back. The organization turned to cloud technology to overhaul finance and procurement IT systems and become not only up-to-date and in compliance, but future-ready.

Through KPMG Powered Enterprise, leading practice business processes were implemented in Oracle Cloud. Working shoulder-to-shoulder with the organization, KPMG conducted workshops to redesign the chart of accounts. A new, unified system application was developed and built to improve the organization’s business today and incorporate the add-ons and projects of tomorrow, such as planning and budgeting, human capital management (HCM), and payroll.

With the new system created, the next step was to train users to manage it and put the improved finance and procurement functions into practice. With these functions now driven by business needs, the organization is ready to expand for the benefit of the people they serve.

Groupthink gets you there

Business transformation isn’t the work of a single team. When organizations leverage the power of finance transformation professionals and technologists working together, they can reach their go-live date with better results.

Understanding is everything

It’s difficult to modernize and automate if organizations don’t understand the current state of their systems. Realizing and communicating a clear overview of their challenges, pain points, and suggested areas of improvement can lay the foundation for a streamlined solution.