M&A - Optimizing Operations and Data Governance
Healthcare Provider
The Target
a mid-sized healthcare provider, faced challenges with system integration, manual reporting processes, and data governance, leading to inefficiencies and compliance risks.
Key Challenges
- Integration Gaps: Manual data entry due to the lack of integration between the EMR and CRM systems, and delays in financial reporting from disjointed financial systems.
- Manual Reporting: Time-consuming and error-prone financial reporting processes due to manual data extraction.
- Data Governance Risks: Insufficient data governance practices, particularly in managing third-party access and ensuring data security.
Solutions Implemented
- System Integration: Integrated the EMR with the CRM and financial systems to automate data flows, reducing manual entry and speeding up reporting.
- Reporting Automation: Deployed automation tools to streamline reporting processes, cutting the month-end close time by 50%.
- Enhanced Data Governance: Established a robust data governance framework with improved access controls and regular audits.
Results
- Efficiency Gains: 30% reduction in manual workloads and a 50% faster month-end close.
- Improved Compliance: Zero data breaches, ensuring full regulatory compliance.
- Cost Savings: Significant labor cost reductions and a solid foundation for growth.
Conclusion
By addressing integration, automation, and governance, The Target improved operational efficiency, compliance, and set the stage for future growth.