Oracle has unveiled several new solutions specifically aimed at supporting the healthcare industry. The company is introducing a planning solution for the healthcare industry. The new solution is designed to help healthcare providers improve financial performance and patient care.
It is part of Oracle Fusion Cloud Enterprise Performance Management (EPM), the new industry-focused planning solution. The platform enables healthcare organisations to quickly model scenarios, determine future demand and optimise resources. This should enable healthcare organisations to make better financial, workforce, and patient care decisions.
Over the past few years, healthcare organisations have seen huge reductions in demand for elective treatments. This has been in addition to skyrocketing demand in emergency rooms and unprecedented difficulty in workforce scheduling. These challenges have made it extremely difficult for healthcare providers to address the rising cost of care. It has resulted in inefficiencies in many health systems.
“Outdated financial systems and processes prevent many healthcare organisations from being able to adapt quickly to operational uncertainties. This impacts their ability to manage costs, operate efficiently, and provide the best possible care,” said Matthew Bradley, senior vice president of applications development, Oracle.
“With industry-specific planning capabilities in Oracle Cloud EPM, healthcare organisations can embrace best practices. They can leverage innovative technologies to enhance insight, optimise planning and forecasting, reduce costs, and improve patient care.”
Creating patient-centred supply chains
Oracle is also introducing specialised supply chain solutions for the healthcare industry to them drive a more connected patient experience. The solution will help them improve patient care by optimising planning, automating processes, and enhancing visibility across the supply chain.
Unpredictable supply and demand across the healthcare industry creates complex challenges. This makes it difficult for healthcare organisations to predict supply shortages, manage complex pricing, replenish orders, and maintain accurate billing. These challenges have been compounded by recent supply chain disruptions. Resulting in unnecessary time and money being spent on administrative tasks, which ultimately impact healthcare organizations’ ability to deliver optimal patient care.
“When healthcare organisations face supply chain disruptions, it can be a matter of life or death. That’s why healthcare teams in particular need reliable, efficient, and connected supply chain management systems,” said Rick Jewell, executive vice president of applications development, Oracle.
“Connecting inventory and clinical data has the potential to revolutionize how healthcare supply chains operate. With Oracle Cloud SCM, we are delivering new solutions that are purpose-built to give healthcare organisations the supply chain stability and confidence they need to improve patient outcomes.”
Improve patient care with better employee experiences
To better support front-line workers and improve patient care, Oracle is introducing specialised HR solutions for the healthcare industry. The new industry-focused HR solutions help healthcare organisations grow the skills of staff, reduce burnout and lower costs by improving efficiency. Oracle says it will deliver better patient care by providing employee experiences that meet the unique needs of healthcare workers.
The past few years have been a continuous battle for healthcare organisations. Unpredictable demand, increasingly high administrative costs, evolving skills shortages, and the global pandemic have created an extremely complex operating environment. This has pushed doctors, nurses, clinical staff, and others in the industry to their limits.
It has also put healthcare organisations under pressure to find better ways to support their teams. Furthermore, they need to improve the employee experience so their staff can provide the best possible patient care.
“Healthcare organisations have a plethora of unique workforce challenges. From attracting talent with the right skills, managing complex scheduling structures, to prioritising engagement and growth for employees facing burnout. The better we can support these workers and enable them to succeed, the better care and service they can provide to people all over the world,” said Chris Leone, executive vice president of Applications Development, Oracle Cloud HCM.
“Oracle Cloud HCM can help healthcare organisations better support their workforce. With intelligent, scalable, and secure applications, we can help these organisations address their most complex staffing challenges. By automating administrative tasks so workers can stay focused on better patient experiences.”
Enterprise Times: What this means for business.
It’s an impressive array of new Oracle Healthcare solutions launched to support the industry. All of these new solutions are part of Oracle Fusion Cloud Human Capital Management (HCM). Rick Jewell, VP of applications development, Oracle, says it’s a matter of life and death.
The Covid-19 pandemic, global supply chain issues and skills shortages have accentuated challenges for the healthcare industry. Hence Oracle’s decision to focus on enhancing tools that provide insight, optimise planning and forecasting, and improve patient care.
Do these product announcements made at Oracle CloudWorld in Las Vegas give Oracle the edge against competitors in the sector? The market is extremely competitive, with an abundance of platforms, tools and suppliers. Oracle’s announcement surely places the company at the forefront of that marketplace. Any tools that support healthcare providers to respond more efficiently and effectively in this competitive marketplace must be welcomed.
