Oracle NetSuite enterprise resource planning (ERP) technology is one of the most dynamic and versatile ERP systems on the market. The technology suite is capable of meeting the enterprise resource planning and data management needs of a variety of industries, including organizations in the healthcare sector.
Due to the scalable, adaptable nature of NetSuite, the system can deliver incredible value to private practices, multi-location healthcare organizations, and virtually every size healthcare entity.
The Oracle NetSuite ERP solution can modernize various core business processes, such as financial management, medical records management, and more. Let’s take a closer look at the benefits of choosing NetSuite software for healthcare.
Why Select NetSuite Software for Healthcare?
Whether you have one growing location or manage multiple locations across the U.S., your practice or organization can use NetSuite to your advantage.
1. Streamline Multi-Entity Management
Managing multiple entities is difficult enough in its own right. The challenges associated with multi-entity management are only magnified when a healthcare organization attempts to govern these entities using a disjointed framework of technologies that are not integrated.
Transitioning from disconnected legacy technologies to an all-in-one solution like NetSuite can significantly streamline multi-entity management.
Instead of managing singular aspects of each facility’s operations from distinct platforms, business leaders can govern all entities with NetSuite. From record management to healthcare bookkeeping and accounting, your team can execute these mission-critical business processes in the NetSuite workflow.
Organizations can address multi-entity management woes by transitioning to NetSuite software for healthcare practices. You’ll be equipped to systematically identify and remove any potential growth barriers and focus on improving critical aspects of each facility:
- Optimize patient experience.
- Improve cash flow.
- Pursue expansion opportunities.
2. Facilitate Real-Time Reporting
Healthcare organizations gather a tremendous amount of patient data. Much of the data can be used to improve business processes, elevate the patient experience, and enhance organizational efficiency. But to unlock these benefits, healthcare organizations must have a means of efficiently accessing their data.
NetSuite promotes data usability by enabling healthcare organizations to generate detailed, insightful reports in real-time.
At the touch of a button, business leaders can generate custom reports highlighting important organizational performance statistics. These real-time reporting tools can guide decision-making processes and give healthcare business leaders a definitive edge in the ultra-competitive healthcare space.
3. Reduce Manual Data Entry Processes
Continued reliance on manual data entry has long been a major pain point for single-location practitioners and larger healthcare organizations across the country. This process is extremely labor-intensive and ultimately inefficient.
More importantly, manual data entry processes open the door for transcription errors that can negatively impact patient care, cause claim-processing delays, and disrupt a healthcare organization’s revenue stream.
NetSuite software for healthcare includes AI-powered automation tools that reduce reliance on manual data entry. The benefits are clear:
- Decrease the workload on staff members.
- Reduce the risk of data entry errors.
- Improve information integrity.
- Allow the organization to protect cash flow.
How Your Healthcare Organization Can Leverage NetSuite ERP
There is no question that NetSuite software for healthcare can be a valuable addition to your organization’s technology stack. The platform can replace aging legacy technologies, integrate your various case and patient management software, and provide unparalleled insights into the state of operations.
However, before you can reap the benefits of NetSuite ERP, you must first configure and implement this technology suite. To facilitate a frictionless and efficient implementation process, you need to partner with the NetSuite deployment experts at Finlyte.
Finlyte can help you maximize the ROI of your NetSuite investment by providing you with:
- Prebuilt integrations.
- Robust reporting tools for medical coders, insurers, and physicians.
- Access to our abundance of industry experience.
- Prebuilt versions of NetSuite that are specific to key medical sub-industries.
With Finlyte in your corner, your practice or organization can deploy NetSuite software for healthcare faster and more effectively.
To discuss our dedicated NetSuite implementation solutions for healthcare, schedule a consultation with our expert team. We look forward to supporting you.