How NetSuite Offers Unparalleled Advantages for HealthCare Industry?

vnmt

Dec,13,2021· read

Share it on:

Healthcare facilities have their own specific technology needs. From accounting management to payroll administration to invoicing to taking care of financial tasks, are different in the healthcare sector compared to other industries. For instance, healthcare facilities must deal with patient co-pays and a variety of rates for different payers. Oracle NetSuite provides tailored healthcare ERP solutions for modern healthcare companies. 

Let us have a quick look at how a comprehensive NetSuite healthcare solution can effectively automate operational tasks in any healthcare facility. 


The Trust Factors for Favoring NetSuite  


Healthcare organizations and all companies dealing with life sciences trust NetSuite because it is highly adaptable and offers a truly scalable solution to ensure accelerated business growth as well as optimum efficiency. NetSuite ERP for hospital management systems or other medical facilities can easily conform to the varied range of business needs the modern healthcare industry has.

NetSuite offers an integrated view of elementary business operations, complete financial management, comprehensive real-time reports and analytics, efficient integration, and all these are offered through a single fully-integrated software solution.

NetSuite makes healthcare and life sciences companies more efficient with the need of spending less time on different business activities such as inventory management or closing the month-end. NetSuite for healthcare also allows medical companies to get optimum satisfaction while spending less time treating patients. 

Some of the important benefits of ERP in healthcare exemplified by NetSuite include the following. 

  • Robust and near complete financial management capabilities
  • Inbuilt financial controls and features to adhere to financial regulatory compliance 
  • Makes organizations capable of managing and consolidating multiple entities 
  • Comprehensive real-time reports and analytics allowing in-depth insights into business data. 
  • Smooth integrations with all third-party systems and legacy software systems such as Athena, Epic, Allscripts, etc. 
  • Enhances efficiency of supply chain and productivity of employees. 

Competitive Advantage Offered by NetSuite 


In a world where decisions are data-driven, getting access to the latest operational stats is crucial for any business to stay ahead of the competition. In this respect, modern healthcare companies are no exceptions. Thanks to NetSuite now healthcare organisations can have unparalleled visibility into the cash flows in their company and the subsidiaries and they can keep track of all the invoices. 

This real time and seamless access to data driven operations is not possible with applications that remain disintegrated. Without an integrated solution it becomes impossible to gather such types of data-driven insights. A CEO or CFO in any healthcare organisation can only know if the company is getting access to real-time accurate data only when there is an integrated and concerted software system instead of several disparate order management, sales and accounting apps. 

This is where NetSuite comes as the natural choice. Leading NetSuite implementation services can help any healthcare company to tailor their software automation as per business needs. 

An integrated solution like NetSuite allows doing without siloed disintegrated apps and bring together all sales and accounting systems. This ensures that everyone has equal access to the same version of critical data at the time of need. This access to important data and data driven insights also doesn't need the help of a third-party system or analytics expert. 

With an integrated approach like this a healthcare company can also cut down on needs corresponding to employee training since healthcare employees will be able to do their needful just through one single system instead of depending upon several different apps and their corresponding analytics tools. Just one single comprehensive system will be capable of dealing with all data needs of a company. 


Ultimate Excellence in Customer Service 


To provide unmatched services to the customers, healthcare companies always need the most updated, precise and error-free view of all the customer activities and their profiles. But this becomes nearly impossible when the customer's order information is dealt by traditional CRM systems. When customer data and order details need  to be re-entered again and again into a CRM for processing the same for financial transactions, it leads to unwanted frictions. 

Ultimate Excellence in Customer Service 

For healthcare organizations it is important to do away with these frictions as in the digital age, most customers want a seamless experience devoid of processing delays. It is especially important for healthcare facilities where delays can lead to loss of lives. This is where an integrated ERP suite like NetSuite ensures delivering the optimum customer experience.

NetSuite is regarded as the best cloud based ERP small business organizations can opt for. This is primarily because NetSuite ensures seamless integration. Here one has a comprehensive record of all customers corresponding to everything, right from the initial checkup to the medical claim settlement. 


Enhanced Data Security


Siloed and disintegrated applications always require undergoing individual and separate security measures. This includes managing user access, data protection measures and fraud prevention tools for several software systems. When any needs to ensure security across a variety of systems like ERP, CRM, ecommerce and other apps, there are greater risks of compromised data security.

A comprehensive and unified suite of apps like NetSuite will solve this security problem just because a unified set of security tools can employ security measures across disparate systems. For healthcare organizations this ensures the ease of managing security. A reputed NetSuite Alliance partner with sufficient exposure into healthcare industry can further configure the security as per specific vulnerabilities and threat perceptions. 

Read More: How To Secure Your Data With NetSuite?

The Complexity of Multiple Licenses Solved


Each segregated app used by a healthcare company for different functional purposes such as accounting, CRM, financial planning, business intelligence, order management and ecommerce involves a lot of additional IT resources. The IT department of the healthcare company needs to deploy dedicated resources for deployment, integration, management and upgrade of the systems in a seamless manner. The companies also need to fulfill licensing requirements for different software systems used in the healthcare facilities. 

This is where a unified system like NetSuite offers the advantage of doing away with multiple licensing requirements. The integrated NetSuite solution by combining different apps into one unified system not only does away with segregated licensing needs but it also ensures freeing up the entire IT resources so that continuous focus on projects can be maintained in a streamlined manner. 


Driving Business Growth


Managing finance is critical to the smooth operation of a business. Managing payroll of employees and expenses is an integral aspect of maintaining financial solvency. When disparate software apps are used for managing such activities, a lot of Human Resource time and energy are wasted in keeping everyone in sync with the right data. This is where a unified solution like NetSuite keeps things streamlined and efficient. 

Contact Our NetSuite Implementation Partner

With an integrated software taking care of each and every aspect of an organisation, managing and maintaining human capital becomes much easier. The entire complexity of entering individual details on various Human Capital Management (HCM) systems can be completely avoided facilitating a smooth operation. 

With an integrated software suite like NetSuite a healthcare company can easily speed up the operation by streamlining processes like expense management, payroll management and employee record management. 


Conclusion 


As articulated above, by switching to an integrated software suite like NetSuite a healthcare company can stay ahead of the competition while ensuring optimum happiness for its customers. An integrated suite of software tools like NetSuite also allows healthcare organizations to improve data security, reduce time spent on licensing while allowing faster expansion across new territories and introduction of new employees. If your healthcare organization as of now didn't begin to shift to NetSuite integrated system, it is high time to do so.