ERP for Healthcare Industry: Keeping it Fit and Fine
Since inception, ERP solutions have long been helping manufacturing, retail, chemical and other industries in streamlining and organizing their critical business operations and processes. These solutions have proved helpful in improving productivity, growth and profitability for all these industries over the years.
However, in recent years, the healthcare industry seems to join the bandwagon as well, since the industry is witnessing a great surge in the demand for ERP software. In fact, studies show that this demand will be skyrocketing soon with more and more number of businesses in the healthcare industry plunging into the ERP market.
Alike retail, distribution, manufacturing and other sectors, the healthcare industry too craves for improved operational excellence whilst reducing inventory and labour costs. In addition, it is imperative for hospitals to enhance flow of information and boost communications across all departments to offer proper and timely care. ERP for healthcare industry is the perfect resort here, which makes lives easier for both patients as well as caregivers.
Key ERP Takeaways for Healthcare Industry
- Improved Patient Care: With the growing number of healthcare facilities across the nation, competition has turned fierce for businesses to survive in this industry. This cutthroat competition has resulted in a surge in demands of ERP implementation across the healthcare industry. The result is optimum and improved patient care, which is the need of the hour for healthcare organisations.
- Full-fledge integration: Unfortunately, a huge number of healthcare organisations still brood on conventional software solutions for enterprise management, which are complex to handle, costly and outdated. Thus, there is need to have an integrated ERP solution that would facilitate seamless flow of information across the organisation, right from outpatient department and other affiliated healthcare departments.
- Business Intelligence (BI): The crux of ERP implementation for healthcare industry, business intelligence plays a crucial role in tracking and measuring a hospital’s operational excellence by providing managers with key metrics pertaining to budgeting and all the patients’ related analytics. Most importantly, business intelligence empowers physicians and caregivers to offer the right treatment to right patient and at the right time.
- Reduced operational costs: Alike any other business where profit is the core objective, healthcare organisation is clearly not an exception here. Thus, they too need to curb operational costs and boost profitability. ERP for healthcare industry help to curb operational overheads by a significant extent by integrating all critical operations such as human resource management/payroll, supplies, inventory, finance, billing etc.
- Accounting made easy: Today’s ERP systems come with intuitive accounting software solutions to take care of all the accounting and finance related needs of healthcare businesses. Financial accounting module renders full visibility of all financial operations. In addition, it simplifies billing process.
- Automation: With a fully automated platform, it is a win-win situation for doctors and caregivers. Setting schedules, calendars, managing appointments, patient records, prescription details, etc. becomes a lot easy now. This facilitates seamless communication as well as helps to provide proper treatment to patients.
- Synchronisation: Automated and unified platform along with synchronised reporting, ERP solutions for healthcare industry help managers to pull out all the critical reports within a single system shunning the need to maintaining documents separately. Plus, the system does it automatically.
Thus, distribution and manufacturing industries are not the only ones that view ERP software as an essential tool, as healthcare industry too is catching up with the trend. In fact, ERP solutions are quickly turning out to be a mainstream for this industry. This evidences that businesses operating in the healthcare industry are realizing the significance of ERP implementation for staying ahead of the curve and attaining unmatched growth.
ERP solutions offered by Sage Software Solutions Pvt. Ltd. are designed to meet the diverse business needs of healthcare industry. These solutions work great to maximise profits, reduce operational costs and streamline critical business operations. To learn how your healthcare business can benefit from ERP software, click here.