Benefits of ERP in Healthcare

The advancement of technology had made everything easier and smoother, and everything is now in a matter of a click of a fingertip. The health industry providers had resorted to using ERP software in lieu of their age-old system of data-keeping to keep up with the fast lane change of technology. The figure shows in a research conducted that in the year 2025, it is expected that US Healthcare market size will reach an estimated 2.1 billion market size.

This growing figure is an indication that most of the healthcare providers had resorted to the use of a comprehensive platform than the traditional practice of record keeping. It effectively ensures that data gathered is consolidated, kept in confidentiality and the reliability of the processes in data gathered. Here are some of the notable benefits that may be derived by your company when you are going to use the ERP software.

Eight Benefits of ERP in Healthcare

1. Easier Access to Medical Records

It may be a usual scenario in the hospital that obtaining a medical record takes time and may even start eating up one’s patience in waiting for the medical staff and nurses to pull up one’s record. Medical files are oftentimes being kept in paper files and stored in a filing cabinet that actually occupies a massive space in the office, and not to mentions the fact that it actually takes time and a lot of effort in researching and pulling up the record of the person.

This is one of the identified problems that may be effectively responded to by having ERP software. Having this system, everything will be consolidated in a single platform wherein obtaining a data is just a matter of a click on the keyboard. This will minimize the time used in researching and manually pulling up the files.

The edge of having the ERP software has been evident during this period of Pandemic wherein the world was literally paralyzed; most of the offices were closed, and the health providers that had used the ERP software had still the capability to monitor the body temperature, access the records of their patients, to have a telehealth wherein it will minimize the frequent visits of the patients to the hospital. The technology itself gives an automated result. Based on the result, it will be easy to determine to assess the severity of the health concern of the person. This is a glaring reality that the health providers that used ERP software we’re able to continually provide quality service despite the Pandemic and lack of manpower.

2. Patient’s Confidentiality

Medical records are considered confidential and must be kept in confidentiality. It involves sensitive information regarding the patient. However, its confidentiality may not be assured if it is being kept in paper files wherein it can be easily accessed. It has been shown that around 32 million patient records have been breached in the year 2019. 

The confidentiality of the patient will not be compromised if the ERP software is being used. The data is stored, kept, and only the authorized individual can have access to it. If there will be a possible breach, then it is easy to determine as to the person who had compromised its confidentiality.

3. Smarter Business Intelligence

Having ERP software will put you on the vantage point of view about your business operations. Virtually you can access all the needed information such as the facility’s operational performance, requisitions, and the budget. With this available information, it is easier to make an intelligent decision regarding what is the immediate need of the business operations.

4. More Accurate Cost Monitoring

Every industry needs to have accurate financial monitoring, and it ensures that both the cash inflow and outflow of the company are being accounted for. The healthcare providers are just, but the same with other business enterprises, for it also needs to monitor the cash inflow and outflow in order to assess its financial viability.

From the medical employees, staff, and back office employees’ salaries, operational expenditures, and patients payments must be properly accounted for. Through the use of the ERP software, such cash inflows can be easily monitored and accessed. Human errors in the data entry and input are also being minimized for the ERP is automated, thereby giving an accurate cost monitoring.

5. Simplified Industry Compliance

There are regulatory requirements that must be complied with by an enterprise that operates a business. The healthcare providers are of no exemptions. They also need to comply with the regulatory requirements.

The edge of having the mobile ERP solution is that it proactively respond to such regulatory requirements from anywhere and anytime.

6. Reduced Operational Cost

A consolidated data in one single platform would connote that the business operations such as billing, inventory, and supplies can be handled by a few individuals rather than having many employees cover such operations, thereby minimizing labor costs, which will eventually reduce the operational costs. 

7. Streamed Process Integration

Numerous processes in the healthcare system may eventually cause confusion. However, with ERP software where everything is being consolidated. The different processes will be connected into one steamed line process where an individual is being connected in each system. It will eventually improve group efficiency, collaboration, and communication.

8. Improved Patient Safety

The patient puts his or her trust to the healthcare provider, and it is just but right that trust must be kept and protected through a system that provides transparency in the transaction, communication, and treatment that is being done. This will ensure that no untoward incidents may occur that will caught both parties in surprise. This is not only for the protection of the patient but as well as to the health provider. The transaction between the patient and the healthcare provider is being streamed throughout the conversation and transaction. This will avoid future conflict that may occur between the parties.