How LOGEX Budgeting helps Radboudmc improve the allocation of resources
About the collaboration
The Radboudmc is one out of seven university medical centers in the Netherlands. As a university medical center, they have three main tasks: to deliver care to patients, to educate students, and to do research.
They employ more than 11,000 people of which around 1400 nurses and over 500 clinicians. And as they are also a University Medical Center, they educate over 3000 students and about 4000 scientific papers are being published on a yearly basis. In 2019, Radboud University Medical Center had a total income of 1,2 billion euros.
The challenge
Before working with LOGEX Budgeting, Radboudmc used Excel as the most important budgeting tool. More than 70 departments used their own excel file with their own assumptions, for example, the percentage to calculate the pension costs. This resulted in over 70 different excel files with mainly financial information. There was also no link between the volumes, capacity, and financial data nor any insights in the consolidated budget. So it wasn’t possible to intervene where and if necessary. Once all files were consolidated, there was an expected loss of about 20 million instead of a targeted profit of 10 million.
We had the desire to get direct insights in our budget based on aligned assumptions and based on a budget where volume, capacity and finances are linked.
Marnix Nillissen, Manager P&C Radboudmc
The solution
We helped Radboudmc to transfer their data into our Budgeting solution linking volume, capacity, and finances. Now they have all data in one place and therefore they’ve been able to reduce the time to create a budget.
But their main reason to change their way of budgeting was the desire to get direct insights into their budget based on volumes, and linked to capacity and finances.
Impact created with LOGEX Budgeting
Eliminated unmanageable excel files across the organisation
Reduced errors and increased accuracy, resulting in less time needed to establish a budget
All data in one managed model
Link between volume, capacity and finances answers the question: “Do we have the capacity to do this?”
Possibility of involving all users (100+)
Possibility to use Costing information in the budgeting process
Budgeting
Get an objective view of your budget by linking volumes, resources, and finances – effortlessly and in real-time. We help you to improve the accuracy and applicability of budgeting and drive performance improvement programs.
Seamlessly link volumes, resources and finances in one budget.
Match the deployment of resources and manpower to the future demand for care.
Determine how portfolio choices impact operations, and spot areas for improvement.
Bottom-up budgeting functionality facilitates collaboration with non-financial stakeholders.