Pick an industry and enterprise resource planning (ERP) systems will have a well-earned reputation for transforming it. Whether it’s eliminating waste and boosting revenues or delivering unparalleled operational oversight, ERP systems affect every facet of any organization it touches.
Not to be left behind, the healthcare industry is discovering the transformative properties of ERP too. Providers who have integrated cloud-based ERP into their processes have not only cut costs, but they remain prepared for new technological innovations.
For healthcare providers, cloud-based ERP solutions are attractive for many reasons, here a few at the top of the list:
Improved Patient Care
Improving the quality of patient care is the biggest driving force behind hospitals investing in cloud-based healthcare ERP. Centralizing all of a facility’s collected data in the cloud means patient medical records, as well as billing and insurance information, are available when they’re needed.
Medical professionals have quick and easy access to vital, potentially lifesaving information stored in the cloud and accessible from virtually anywhere.
Lower Cost of Entry
On-prem ERP systems can have a higher initial investment over their cloud-based brethren. But it isn’t just the facilities with tighter margins who elect to go with cloud-based systems. Healthcare organizations who recognize its value, efficiency and accessibility opt for cloud-based solutions too.
Providers can define and select specific requirements which improve business processes while passing on unneeded features. Cloud-based ERP systems operate on a subscription basis where additional services are made available for integration.
Ease of Adoption
Cloud-based ERP solutions are smoother to install and go live over on-prem ERP solutions, too. Organizations save money, but also save time when compared to the resources required to host locally.
Healthcare ERP in the cloud comes with modern and intuitive user interfaces with much less of a technical buy-in than on-prem systems. This allows facilities to save money on training hours, IT hours/personnel, servers, and more.
Operating Cost Reduction
Cloud-based ERP systems help hospitals and other healthcare organization eliminate waste by collecting all operational process data and making it easy for cross-referencing.
Without the limitations of disparate systems, organizational processes such as accounting, HR, inventory, and patient management are under the same umbrella. Providers get insights into how money moves through an organization versus workflows and ultimately affords their organization the opportunity to optimize their backend processes.
Improved Business Intelligence
With all data collected and made readily-accessible, reporting processes are drastically simplified and can be automated. This results in considerably more accurate reporting because it effectively eliminates many of the points at which user error can occur.
With ready access to reliable reporting, leadership can make better organizational decisions and determine the best business practices based upon user-defined KPIs.
Because of the sensitivity of patient health information, healthcare facilities need to be able to rely upon the security of the volumes protected data they amass. Cloud-based ERP systems keep information secure with enterprise-grade encryption restricting unauthorized access.
Cloud-based ERP systems are often the most attractive entry point for organizations that need to remain budget-conscious. Such systems are flexible and customizable to the needs of the specific organization while remaining as robust and secure as locally hosted systems.