NATICK, Mass., Nov. 19, 2015 (GLOBE NEWSWIRE) -- Centage™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced more than 100 organizations across all facets of the healthcare industry have turned to Budget Maestro to address their strategic budgeting and forecasting needs. Operating in a multifaceted market with evolving regulations and a complex myriad of providers, payers, and patients, financial professionals within healthcare need accurate and timely insight from their financial data. With Budget Maestro, healthcare organizations are empowered with a strategic financial management tool to better manage the financial health of their organization and streamline the process for budgeting, planning, forecasting, reporting, and business performance analysis. For more information visit www.centage.com/solutions/industries/healthcare.
Featuring built-in accounting rules and formula free calculations, healthcare providers are leveraging Budget Maestro to develop an easier and more reliable way to budget and plan. Whether budgeting and planning for departments, services, locations, or patient procedures, Centage customers have access to accurate, timely and actionable financial and operational data they need. In addition, by leveraging Budget Maestro's "what if" scenario planning, healthcare entities can strategically plan for any number of circumstances – such as hiring goals, service demands, and equipment requirements – all in the language that makes sense to their specific healthcare organization. These capabilities also enable users to change assumptions on the fly and immediately see the impact on revenue, expenses and cash flow.
"Budget Maestro is a strategic financial management tool that enables us to improve the budget process every year and fine tune our operations as we go," said Kyle Raeder, Director of Reimbursement & Financial Planning, Community Care, Inc. a managed care leader based in Brookfield, Wisconsin. "The clarity of the projections combined with the software's flexibility enables us to glean the right insight at the right time to help our organization continue its mission of member-centered care and compassion."
Read more about how Community Care, Inc. achieves long term financial health with Budget Maestro.
"As a state-of-the-art, 24-hour ER and ICU animal hospital, technology like this assists us with efficiencies and strategic planning for future growth," said Ron Morgan, CEO of DoveLewis, an accredited teaching veterinary hospital based in Portland, OR. "It also allows us, as a nonprofit, to do the most good by forecasting for our many community programs that provide vital services to veterinary professionals and animal-loving community."
More than 100 healthcare organizations including Community Care, Inc., DoveLewis, Holston Medical Group, and Immanuel Communities are leveraging the power of Budget Maestro to:
- Generate detailed personnel plans including calculating employee specific benefits for accurate resource planning;
- Create precise income plans with breakdowns of critical KPIs such as services offered, length of patient stay, insurance details, contractual allowances and more;
- Track and control costs by providing detailed analysis by doctor, clinic, procedure or operating unit;
- Conduct operating margin analysis that identifies and evaluates specific revenue and cost drivers;
- Develop detailed reports such as income statements by specific payer or physician using multiple views and hierarchies for various reporting requirements;
- Automate the planning process and integrate departmental budgets for a consolidated financial view of the organization.
"There are few industries as complex as healthcare. In a market where regulations are constantly evolving, financial professionals need to be able to quickly see how new requirements will impact financials and business critical operations," said Barry Clapp, President & CEO, Centage Corporation. "With the Budget Maestro suite of solutions, our healthcare customers have access to a strategic financial management tool that can not only help them budget and plan for the near term, but prepare their organizations for what may be required in the future."
About Centage
Budget Maestro® by Centage is an easy-to-use, scalable, automated budgeting, planning, and forecasting application. It is designed for small to mid-market companies and automates many of the time-consuming and error-prone activities associated with using spreadsheets to generate accurate budgets and forecasts. It features built in financial and business logic that allow users to build and update their budgets and forecasts and never worry about formulas, functions, links or any custom programming. It is the only solution in the market that offers synchronized P &L, Balance Sheet, and Cash Flow reporting that generate automatically and seamlessly update. Budget Maestro serves more than 7,000 users worldwide. Visit us at www.centage.com. For more information follow us on Twitter @Centage or visit our blog http://blog.centage.com/ for the latest insights on budgeting and forecasting strategies.