 Articles
                                    | Open Access | 																																		
														
				
								https://doi.org/10.37547/ijmsphr/Volume06Issue10-06
                                                                                                                Articles
                                    | Open Access | 																																		
														
				
								https://doi.org/10.37547/ijmsphr/Volume06Issue10-06
				
							                                Cost-Effective Healthcare Operations: Financial Modeling and Optimization Using Business Intelligence Tools
Abstract
The issue of rising healthcare costs has remained a big burden to policymakers, healthcare administrators, and healthcare patients, forcing them to devise new methods of operating efficiently as well as sustainability when it comes to financial matters. Power BI and Tableau are examples of Business Intelligence (BI) tools that have become transformative and allowed healthcare organizations to leverage big amounts of financial and operational data to make decisions that are cost-effective. This research paper discusses how BI-based financial modeling can be integrated to streamline healthcare operations, in terms of quantifiable cost reductions and efficiency improvements. The study incorporates secondary financial data of hospitals based on BI-enabled dashboards and quantitative modeling methodology with the help of a mixed-methods approach. The financial trend analysis, regression forecasting, and the cost benefit models are used to determine inefficiency within the resource allocation, procurement and workforce management. Results show that BI tools enhance the precision of cost estimates, simplify the important reporting procedures, and promote data-driven strategies that will lessen operational wastage. The results of the comparative analysis of two tools, Power BI and Tableau, also shed light on the benefits of interactive dashboards in terms of transparency and real-time decision-making. The originality of the research consists in the fact that the proposed study is able to illustrate the ways in which BI-enabled financial modeling can be used as a strategy that healthcare organizations can utilize to attain cost optimization without sacrificing on the quality of services. This study closes the divide between financial analytics and operational management, hence providing practical implications on the part of healthcare administrators and theoretical contributions on the part of those in the field of healthcare informatics. Finally, the research places BI tools not only as reporting tools but as paramount facilitators of the financial sustainability of healthcare systems.
Keywords
Healthcare operations, Business Intelligence, Financial modeling, Power BI
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