By Jennifer Jost, Product Marketing Manager, Oracle
According to a 2018 Black Book survey, 61 percent of healthcare finance leaders believe technology optimization within their organization is the highest priority initiative through to 2020. The reasons? Evolving policies in US healthcare, increased competition, rising costs, and a shift to a value-based care payment model, which reimburses for quality of care rather than fee-for-service.
To help them adapt to these challenges, healthcare organizations are looking to enterprise resource planning (ERP) cloud to improve visibility, enhance business operations and reduce overall costs. With a value-based reimbursement model, it’s important for payers and providers to understand—and demonstrate—the true costs of patient care.
UW Health understood the need to migrate towards cloud-based technology for their back-end systems to future proof their healthcare organization.
“Technology and regulations have accelerated the rate of change in the healthcare industry and our legacy business systems were struggling to keep up,” said Elizabeth Bolt, Senior Vice President and Chief Operating Officer at UW Health. “To ensure we could continue to deliver the best quality services as we grow, we needed agile systems that can quickly turn data into insight. Going forward, we will manage all our HR, supply chain, and financial data on a single integrated platform.”
The Black Book survey also invited respondents to rate healthcare ERP vendors for 2017 in client experience and product satisfaction. Oracle ERP Cloud was ranked the #1 solution for value-based care—highly regarded due to its mobile offerings, scalable features, data insights, and built-in security.
Lean into digital transformation and take the opportunity to learn more about Oracle ERP Cloud at the annual HIMSS Conference 2019 in Orlando, Florida. Attend HIMSS from February 11-14 for a chance to get inspired and network with fellow finance professionals in healthcare. Stop by booth 2305 to hear from industry leaders and interact with demos of Oracle Cloud applications.
You will get an in-depth look at how Oracle ERP Cloud can help transform and connect care within your healthcare organization. Regardless of whether you are a finance leader or human resources, this booth brings together healthcare solutions for multiple lines of business, including ERP, supply chain, HR and IT.
In addition to hearing about modern finance in the cloud, you’ll also learn how Oracle ERP Cloud has met healthcare industry standards for patient record protection and security through the Health Insurance Portability and Accountability Act (HIPAA) certification.
We invite you to join us in Orlando for HIMSS 2019 at booth 2305 and see for yourself how you can transform and connect your healthcare organization with the #1-ranked Oracle ERP Cloud.