Oracle is introducing new healthcare-specific capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations increase financial visibility, build more resilient supply chains, and improve patient care. The new capabilities will enable healthcare organizations to increase productivity, reduce costs, embrace new business models, enhance decision making, and better serve patient needs.
Unpredictable demand and high administrative costs have put a massive strain on the healthcare industry. From navigating resource and supply shortages to adapting to changing financial requirements of patient care, the industry is facing more challenges than ever before at a time when the need for efficient and accessible healthcare is becoming more critical. To be successful in this shifting climate, healthcare organizations need greater visibility and collaboration across the entire delivery system from suppliers and payers through to the final patient invoice.
To help healthcare organizations improve patient care, Oracle is adding new healthcare-specific capabilities to Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM), and Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The new capabilities enable healthcare organizations to consolidate disconnected systems and automate critical processes while providing the flexibility needed to support new delivery models ranging from telehealth to home and community-based care. New healthcare-specific capabilities include:
Financial Consolidation and Reporting: Helps healthcare organizations retain ongoing visibility and control over financial performance in an environment with a complex mix of medical products and services across numerous locations and business units. Industry-leading financial consolidation and reporting capabilities in Oracle Cloud EPM enable customers to leverage AI and automation to improve governance, streamline corporate reorganization and acquisitions, and enhance planning and decision making.
Procurement: Helps healthcare organizations reduce the cost of medical supplies and improve order efficiency. New healthcare-specific enhancements to Oracle Cloud ERP include contract and pricing integrations with group purchasing capabilities that help healthcare organizations reduce costs and lower risk.
Replenishment Planning and Recall Management: Help healthcare organizations improve availability of medical supplies to get ahead of surges in demand. New healthcare-specific updates to Oracle Cloud SCM enable customers to better predict demand and direct supplies where and when they are most needed. Additionally, healthcare-specific recall management capabilities help customers track inventory and quickly and efficiently conduct medical product recalls to help improve safety and reduce risk.
“As the healthcare landscape puts an increased emphasis on proactive patient care, increased integration and collaboration across the entire ecosystem is critical to making healthcare more efficient, accessible, and equitable,” said Steve Miranda, executive vice president of applications development, Oracle. “The new capabilities added to Oracle Fusion Applications Suite will help healthcare organizations adopt new business models, embrace rapid innovation, build agile and sustainable supply chains, and better serve patients’ needs—now and in the future.”
Oracle Fusion Applications Suite enables organizations to take advantage of the cloud to break down organizational silos, standardize processes, and manage finance, HR, supply chain, and customer experience data on a single integrated cloud platform. With quarterly update cycles, customers can gain access to continuous innovations as new capabilities are added regularly.