An Enterprise Resource Planning or ERP system supports almost any kind of business. The healthcare sector is no exception so today, ERP management is growing rapidly in healthcare. While technology continues to evolve, most hospitals and other healthcare providers have spent a great deal of time and money in improving operational efficiency while reducing labor costs.
Here are the top 5 trends in ERP software to watch out for in 2020.
Trends for ERP in Healthcare Organizations
1. Focus on Increased Security
By October 2017, the healthcare sector had experienced 272 security breaches. Because of these breaches, hackers have been able to obtain more than 1 million patients’ personal information from all kinds of medical facilities.
ERP software has the potential to improve security. To be proactive rather than reactive, you can use digital and encryption keys, as well as fingerprint, eye and even voice scanning. The development of Blockchain technology enables medical records to be stored in encrypted blocks.
2. Developing Telemedicine features
A lot of patients don’t want to visit their doctor in person. They would prefer to have their appointment on their computer or mobile device. Some ERP systems have been modified to support telemedicine, such as allowing clinicians to access information from other places. This is another field where ERP for healthcare can be worked on.
3. Predictive Analysis to Reduce Costs
ERP software includes a predictive analysis that is used to identify the re-admissions of patients, allowing the healthcare provider to implement measures to prevent this. This is important since hospital re-admission costs have risen drastically.
4. Research and Prevention
ERP software can store and gather all types of data, enabling researchers to identify information that would otherwise take months to find. Tracking disease outbreaks between specific locations and demographics is made easier, as well as, making a plan for preventing it.
5. Renew and upgrade the existing ERP system
ERP in Healthcare organizations provides so many advantages that healthcare facilities simply can’t afford to miss out on. Those who use legacy software will have no choice but to look at new ERP software options and invest in those.
The above trends for ERP in healthcare carry the potential to improve, enhance, and optimize healthcare services in a fast-growing digital world. Let’s read on to know the myriad benefits of ERP in the healthcare sector.
Benefits of ERP in Healthcare Organizations
1. Patient care and safety
With an ERP system in place, patient details may be stored and transferred among the organization’s departments. You can rest assured all records remain accessible and updated. This access enables the doctor to provide quality patient care by making the right diagnoses and decisions for their patients’ welfare. Patient safety is essential and healthcare providers should work on improving their safety protocols. ERP can help by making communication between patients and the clinic more clear.
2. Better business intelligence
Having an ERP system can provide better business intelligence to help you make better decisions about your healthcare business. The software can calculate and assess the operational efficiency of a hospital. It provides budgeting information, requisitions, and patient visitation analysis. Doctors also consider ERP as a valuable tool for ensuring that the right patient is given the right care in all circumstances.
3. Electronic storage of healthcare data
Hospitals tend to collect essential data on their business operations and their patients. Implementing ERP Software in healthcare organizations can be a good idea to ensure the safety and confidentiality of all the information. Users can easily update all the data placed in the system.
4. Cost reduction
ERP software solutions help to reduce operating costs for your facility. Management can reduce the costs incurred as a result of inventory and administrative mistakes, as ERP can accurately track finances and inventory levels. Processes will become more efficient with automation. Additionally, the software optimizes various backend processes such as budgets, payroll, and inventory management.
5. Financial and strategic planning
ERP ensures that both patients and healthcare providers have a fair share of benefits, particularly payments. It helps the institution stay profitable while providing people with affordable but top-quality patient care.
Managers can strategically plan as ERP software solutions can help identify areas where improvements are needed. As a result, it may enhance the organization’s overall efficiency, especially time management. Once the issues are detected it’s simpler to monitor whether or not the improvements that will be made will be successful.
By deploying ERP in healthcare organizations, patients, healthcare professionals, and insurance providers can hold all the necessary information on a single platform. Easy access and comfort maybe two of the greatest benefits by applying this technology to healthcare. Thanks to this innovative solution, there will be better clinical procedures and facilities, and a more integrated organization.