Meridian Health has implemented Business Objects planning solutions to improve budget preparation efficiency and enhance the functionality of its financial reporting applications. Business Objects enables Meridian to create and implement a comprehensive budgeting and reporting process that increases compliance, strengthens quality, and minimizes turn around time.
Meridian, which has annual system revenues of $725 million and provides quality health services, facilities, and programs in 70 locations throughout New Jersey, is using Business Objects as the cornerstone of its annual budget development process. Meridian can now calculate net patient service revenue budgets and fixed cost center budgets and margins with more accuracy and in less time. Additionally, Meridian ensures reports are reflective of the changing needs of the end user by automating processes and eliminating the need to develop reports that provide only marginal business value.
"Budgeting is the cornerstone of planning and controlling operations, but it can be a time-consuming and resource intensive process," said Steven Esposito, corporate budget manager at Meridian Health. "Without some degree of advanced preparation, the massive scope of the annual budget development process and the intricacies of tailoring these financial reports to specific audiences can be overwhelming. Our Business Objects deployment provides the foundation to develop an efficient, end-to-end budgeting process, helping us become better prepared to tackle this task each year."
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