Mapping business strategy to IT strategy has become challenging for many organizations. Adhering to industry regulations, optimizing technology, and keeping pace with innovation are critical to improving operations and controlling costs. MMY’s advisory services are designed to offer expertise where you need it most.
The experts on MMY’s advisory services team apply their knowledge to develop a fitting solution to guide clients through specific challenges. This could include integration of your business and industry specific information to help you efficiently distribute information to clients, users and partners or helping you develop policies and procedures to maximize both your capital investment and user adoption. Advisory services is available to support a wide range of endeavors.
Our Advisory Services Offerings:
Application Portfolio Rationalization
Application Rationalization is the process of developing an inventory of all systems, software, tools, and related information within an organization’s technological environment. The inventory is designed to allow any organization to make informed decisions about systems and applications currently in use.
Although maintaining an application remediation program is not, and should not, be considered the core competency of an organization, it is an important program that supports the ultimate goal of cost control for ever-increasing IT budgets. The process includes:
- Identification and Data Collection – MMY examines your table of organization to determine the most efficient way to collect relevant details. Creating an application placemat will give you a complete picture of application usage in your production environment. MMY provides a proprietary tool which allows you to manage your application portfolio going forward, so that you may make the most informed decisions possible.
- Remediation – The information gathered in step one forms a foundation on which you can make more thoughtful application decisions. Now is the time to take corrective action for applications that can be decommissioned or deployed more effectively. A remediation strategy may contain, but is not limited to, the following details:
- Cost Impact
- Staffing Impact
- Destination Application
- New Build / Upgrade (Will training be required?)
- Data Conversion (There are a number of options for your data from retired applications.)
- Interface Impact
- Migrate vs. Archive
- Infrastructure Impact and Changes
- Timeframe and Project Plan
- Key Resources
As your partner in the endeavor, the MMY team will guide the overall effort toward developing effective strategies that will maximize your application environment. Contact Us today to engage with an MMY expert!
CIO Mentoring / Interim Operational Leadership
A CIO’s or ACIO’s responsibilities can become overwhelming at times and when someone is thrust into a role or their role significantly changes, those changes can prove challenging. MMY can help ease that burden by working with you and your team to lay out clear objectives and focus on those items that require the most attention. We can also support and manage any operational areas that need attention.
- Interim CIO, CTO and ACIO roles
- Organizational Strategy and Planning
- Service Delivery Models
- Decision Rights
- Risk Management
- Business Process
- IT Strategy and Planning
- Enterprise Infrastructure and Architecture
The average MMY Consultant possesses more than 20 years’ experience in his/ her subject area, many having background within major organizations in the US. Having been there and done that provides a sounding board for executives to ensure strategies are well thought out prior to implementation. Another voice or set of hands can help alleviate a backlog in operational activities and assist to identify and manage critical events that need to occur.
MMY understands that as organizations wrestle with the sheer volume of data and how to use it to make informed decisions, there is a vital need for reliable processes that measure quality, cost, and productivity across the enterprise. As a result of our practical experience, MMY Consulting brings the expertise to guide customers through the perils and challenges inherent in these transformational times in many industries.
- Complete vendor evaluation and review of business requirements
- Operational transformation
- Total cost of ownership
- Functionality comparison
- Risk assessment
- Technology review
- To “Data Warehouse” or not
- Assistance with vendor and product demonstration
- Development of implementation considerations and business case
The data collected by organizations is essential for predicting current and future trends, analyzing requirements, measuring performance, and evaluating outcomes. MMY guides customers in implementing both the organizational structure and software solutions to support this vital function.
Quality Assessment Reviews
Having a strong, robust Internal Audit (IA) Activity should not be a fairy tale. Quality Assessment Reviews (QAR) should be performed by a qualified, independent review team in order to comply with the IA Activities detailed by the Institute of Internal Auditors International Standards for the Professional Practice of Internal Auditing (the Standards). Let us help you to ensure that there is a happy ending to your value-add story.
Benefits of a QAR Review
By more thoroughly evaluating their IA Activity via a QAR, our clients are better positioned to ensure their efforts are focused on – just like Goldilocks – the right things at the right time with the right resources. The goal is to maximize IA value to the organization as a whole. It is all about validating the return on investment, identifying current strengths and opportunities for improvement.
A QAR can answer the following:
- Is the IA Activity adding value?
- Is the IA Activity planned according to their time and resources effectively and efficiently?
- Is enough time devoted to Information Technology?
- Are the IA results of their reviews significant and meaningful for the organization?
- Does the IA Activity continuously improve its performance against stated metrics?
- Is the IA Activity focused on the appropriate areas? Are they communicated effectively?
- Does the IA activity adopt Industry and IA common and best practices?
- Does the IA function fully utilize advances in technology? Data mining? Continuous monitoring?
The QAR provides an opportunity to:
- Validate strengths and identify further opportunities
- Align IA Activity to key stakeholder expectations
- Effect meaningful key performance metrics
- Provide a roadmap for agreed upon improvements
The demand for QAR services is increasing due to:
- Constant change in the industry
- Increased complexity and risk that organizations face
- The need for all to do more with less
- Holistic perspective of risks and how to mitigate them
- Limited risk and control resources
MMY uses the proven Institute of Internal Auditors Quality Assurance Manual, experienced and skilled resources as well as the associated tools to perform the QAR. This provides a standard and efficient way to gather evidence, conduct the assessment and deliver a comprehensive review to each of our clients.
Vendor and Contract Compliance Audit
Periodic audits of vendor software, contracts and services to ensure compliance with industry standards and other regulatory bodies are essential to identifying areas of risk to an organization. A standard best practice to audit vendors who supply organizations with software and other IT services is to enlist the aid of an independent third party to conduct a compliance audit. MMY’s Compliance Audit solutions provide a vendor-neutral approach to support your organization’s total risk management program.
Conducting a vendor compliance audit requires exceptional expertise and in-depth knowledge of both the software being audited and the vendor’s reputation in the industry. MMY Consulting brings the knowledge required to conduct compliance audits on many software and IT systems. Services include but are not limited to:
- HIPAA privacy and security standards
- Medicare Medicaid payment policies and procedures
MMY’s vendor compliance audit services provide a standard methodology and assessment process that evaluates the vendor’s conformity with federal, state, and local government legislative requirements. The outcome is a complete report identifying areas of vulnerability and non-compliance.
MMY has successfully delivered exceptional savings to several clients after conducting thorough audits of their external vendors. Check out our success stories to learn more.
Strategic and Operational Optimization
MMY’s Operational Optimization service guides clients in establishing a framework for organizing, automating and analyzing business methodologies, metrics, processes and systems that will drive business performance and assist in achieving the optimal state. This includes process reviews as well as reporting and benchmarking.
Workflow Process Review:
- Workflow process current state
- Identify areas for improvement (findings / projects)
- Recommendations for improvement (Best Practice)
- Create workflow process for future state
- Create metrics to measure process flow improvement
- Risk mitigation strategy for maintaining status quo
Reporting and Benchmarking:
- Establish baseline measurements (Best Practice)
- Create applicable benchmarks for all areas
- Monitor and measure progress toward benchmarks
- Monitor Key Performance Indicators (KPIs) and Key Performance Drivers (KPDs)
The optimization cycle consists of a continuous process of monitoring the appropriate metrics, looking for a variance from the targets or norms, then determining an approach to address the issue. This can be a time-consuming process for staff that already have a full plate of responsibilities. Why not leave the heavy lifting to the experts at MMY? Click on the brochure below to learn more!
System Selection / RFP Development
MMY’s approach is elegant in its simplicity. Procurements are process-oriented in every regard, with discrete deliverables at every logical conclusion of each phase. Our approach will provide a clear line of sight to your organization’s strategic direction . The timeline is transparent, artifacts for requirements and data gathering are thorough but easy to use, the weighting or grading of systems is directed by you with MMY’s advice, thus resulting in a clear, data-driven result in selecting the your go-forward strategy.
MMY leverages industry knowledge to provide you prescience for the future. MMY will help in the decision-making process to determine which company will meet your needs now and in the future. That is why MMY’s process methodology is critical.
- Interview stakeholders and gather requirements
- Bring regulatory and industry knowledge to the project
- Conduct a “future-state” workshop to open the imaginations of the stakeholders
- Identify inefficiencies and points of dis-integration that need repair
- Build a conversion plan that preserves and archives legacy data
- Drive all Q&A sessions along with reference checks, POC’s(Proof of Concepts) and/or site visits as required
- MMY does not use “boilerplate” artifacts; they are custom to each project
- Work with the client to build a five year TCO Model
Deliverables will be based on the information provided in the scope above. Additional details provided by the designated Selection Team will include but are not limited to the following:
- A comprehensive and concise RFP
- Requirements documents gathered from interview notes
- Meeting notes and follow-up documentation
- All internal questionnaires, scoring documents, as well as vendor communications and responses
- Review session notes
- TCO Model
- Hi-Level future-state workflows
MMY has developed a comprehensive process to deliver high quality and consistent results for our clients. This has evolved into our methodology and a tool set we bring to the project.
Key components of this methodology include:
- Effective and Frequent Communication: Communication begins on Day One. This initial step in the process brings all key stakeholders to the table, to ensure every work item is addressed for each department as appropriate and clear strategic goals are identified. IT, operations, revenue cycle, and clinical staff must all be included in this discussion.
- Detailed Project Plan: Developing a project plan is a great method for brainstorming all necessary components of a project and understanding how each piece will fit together as the project develops.
- Sufficient Due Diligence: Once a common vision and comprehensive communication plan has been established that incorporates all departments and stakeholders, due diligence must be performed to identify all problems areas that need resolution before a new system selection is undertaken.
- Appropriate Plan to Address Ad Hoc Issues: Even with a complete detailed project plan, a comprehensive communication plan, and successful due diligence, issues may still arise during the system selection process.
MMY’s Project Prioritization service guides clients through defined criteria to determine the project and/or initiative importance to make sure the sequencing best fits within the organizations requirements. Working together MMY will create criteria gates based on key needs for each client to determine those projects or initiatives that should be completed sooner to support the goals of the organization.
An effective project prioritization methodology defines the framework for the formal approach of using quantitative analysis to aid in the ranking of projects. The ranking of projects using such a methodology is consistent with industry best practice and recommended by the Project Management Institute (PMI).
Tackling difficult challenges in stressful times is what MMY Consulting does best. Our team of seasoned consultants provide unparalleled expertise using our project prioritization methodology to guide our customers through the maze of selecting and implementing the right projects at the right time. Our project Prioritization tool is adaptable for use at all levels of the organization.
MMY Project Prioritization
- A repeatable, structured approach to achieve a consensus by balancing the needs of organizational stakeholders and customers
- Ranks projects based on criteria that has been determined to be important to the organization
- Aligns projects with strategic goals of the organization
- Provides a consistent method for the evaluation of options
- Removes emotion from the process
- Quantifies the decision making with a numeric ranking
- Facilitates communication between stakeholders
MMY has incorporated industry best practice with the inclusion of a Project Prioritization matrix – a key tool in the prioritization process. The matrix has been designed to work with any project portfolio management system. Again, MMY has gone the extra mile to ensure that our prioritization matrix reinforces the idea of standardization by using a systematic approach to score and rank your projects using organizational strategic objectives as a filter.