The healthcare industry has struggled with technology issues, staffing shortages, changes in healthcare laws and regulations, and the overwhelming impact of the Covid-19 pandemic, making it hard for hospitals and other healthcare facilities to maintain a high standard of patient care and operational efficiency. Enterprise Resource Planning (ERP) software can successfully manage all facets of an organization. Still, hospitals and medical facilities must first prepare for ERP implementation in healthcare to ensure a successful transition.
Through ERP software, hospitals and other healthcare facilities can implement effective solutions to resolve their current issues regarding outdated technology, financial reporting, delays in inventory and supply chain management, and human resources. With one system properly managing all areas of their organization, healthcare organizations can focus fully on top-quality patient care and improving overall operational efficiency.
Current Problems with Existing Healthcare Systems
Improving the overall operations of healthcare organizations and medical facilities starts by evaluating the current problems with their existing systems. Hospital administrators and medical staff across the country experience these common issues on a daily basis.
- Lack of financial reporting visibility between departments
- Frequent errors in data entry and financial record-keeping
- Rising health care costs
- Outdated legacy systems and antiquated technologies
- Delays in inventory and supply chain management
- Difficulty in managing daily operations regarding staffing and human resources
- Constant changes to the industry and governmental regulations
When healthcare organizations don’t replace and improve outdated and inefficient systems, it limits their ability to adapt to current healthcare trends and implement programs that could improve patient care and operating costs. Healthcare providers need reliable software solutions that allow communication between key departments to provide the best possible patient care.
The healthcare industry also faces an added risk of liability issues due to data breaches or other online security problems. Cybercriminals have illegally accessed or compromised millions of patient and hospital records across the country, and outdated technology and record-keeping systems are a major contributing factor.
Also, it can be extremely difficult for healthcare organizations to successfully integrate and comply with constant regulatory changes in healthcare laws and oversight. They lack a unified, cohesive software that seamlessly and efficiently connects all their departments.
Is It Time to Migrate to ERP Software?
Once healthcare providers identify their key areas of improvement, ERP software such as Oracle NetSuite can completely transform all facets of daily operations, from finance, patient care, admissions, procurement and inventory management, and human resources. ERP implementation in healthcare means hospital management and medical staff can experience a unified healthcare system that allows them to reduce costs while providing exceptional care for patients.
For those experiencing challenging healthcare financial management, ERP software can provide critical improvements to daily operations, such as:
- Real-time fiscal details and accurate financial projections
- Strengthen financial visibility and management for billing, payroll, and operating costs
- Accurate supply chain and inventory management
- Flexibility to adopt new system features over time
- Improved integration of new patient care technology
- Seamless communication between management, doctors and medical staff, and patients
Through ERP implementation, hospitals and medical facilities replace outdated legacy systems with networks that can easily integrate new technology changes as systems improve and adapt over time. Healthcare providers can quickly implement new system features and patient technologies such as telehealth options or cloud-based, encrypted medical records and treatment history.
Healthcare organizations needing improved management efficiency can find these solutions with ERP software. Hospital management improvements include more updated information on admissions, patient records, staffing management, services and scheduling, and lab availability.
Integrated ERP solutions allow doctors and medical staff to fully manage all aspects of care, including:
- Diagnosis and testing
- Inpatient and outpatient care
- Pharmacy needs
- Therapy or chronic treatment options.
They also ensure that healthcare providers can safely and privately manage patient and hospital records to remain in compliance with HIPAA and other privacy regulations.
How to Prepare for ERP Implementation
To minimize disruptions to daily operations and patient care, healthcare organizations beginning ERP implementation can prepare by identifying key areas of improvement. Areas and departments that can benefit from ERP migration include:
- Hospital staff
- Admissions and billing
- Human resources
- Purchasing and inventory
- Food services
- Outpatient care facilities
Healthcare organizations also need an experienced, reliable partner to manage all aspects of an ERP migration to ensure its long-term success and utilize its many features and functions.
Finlyte offers technology-driven business solutions that can help healthcare organizations experience streamlined financial management, cost savings, and enhanced visibility and transparency. The Finlyte team specializes in Oracle NetSuite ERP implementation in the healthcare industry, with thorough planning and migration plans that minimize operational disruptions while ensuring a smooth transition in all departments.
Contact Finlyte today to discuss how we can help you prepare for ERP implementation in healthcare to ensure a successful migration to Oracle NetSuite.