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Oracle Helps Healthcare Organizations Solve Financial, Planning, and Supply Chain Challenges
News provided byOracle
Sep 18, 2023, 8:17 AM ET
New healthcare-specific capabilities in Oracle Fusion Cloud Applications Suite help healthcare organizations unify operations and improve patient outcomes
LAS VEGAS, Sept. 18, 2023 /PRNewswire/ -- Oracle Health Conference -- Oracle is introducing new healthcare-specific capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations increase financial visibility, build more resilient supply chains, and improve patient care. The new capabilities will enable healthcare organizations to increase productivity, reduce costs, embrace new business models, enhance decision making, and better serve patient needs.
Unpredictable demand and high administrative costs have put a massive strain on the healthcare industry. From navigating resource and supply shortages to adapting to changing financial requirements of patient care, the industry is facing more challenges than ever before at a time when the need for efficient and accessible healthcare is becoming more critical. To be successful in this shifting climate, healthcare organizations need greater visibility and collaboration across the entire delivery system from suppliers and payers through to the final patient invoice.
To help healthcare organizations improve patient care, Oracle is adding new healthcare-specific capabilities to Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM), and Oracle Fusion Cloud Supply Chain & Manufacturing (SCM). The new capabilities enable healthcare organizations to consolidate disconnected systems and automate critical processes while providing the flexibility needed to support new delivery models ranging from telehealth to home and community-based care. New healthcare-specific capabilities include:
- Financial Consolidation and Reporting: Helps healthcare organizations retain ongoing visibility and control over financial performance in an environment with a complex mix of medical products and services across numerous locations and business units. Industry-leading financial consolidation and reporting capabilities in Oracle Cloud EPM enable customers to leverage AI and automation to improve governance, streamline corporate reorganization and acquisitions, and enhance planning and decision making.
- Procurement: Helps healthcare organizations reduce the cost of medical supplies and improve order efficiency. New healthcare-specific enhancements to Oracle Cloud ERP include contract and pricing integrations with group purchasing capabilities that help healthcare organizations reduce costs and lower risk.
- Replenishment Planning and Recall Management: Help healthcare organizations improve availability of medical supplies to get ahead of surges in demand. New healthcare-specific updates to Oracle Cloud SCM enable customers to better predict demand and direct supplies where and when they are most needed. Additionally, healthcare-specific recall management capabilities help customers track inventory and quickly and efficiently conduct medical product recalls to help improve safety and reduce risk.
"As the healthcare landscape puts an increased emphasis on proactive patient care, increased integration and collaboration across the entire ecosystem is critical to making healthcare more efficient, accessible, and equitable," said Steve Miranda, executive vice president of applications development, Oracle. "The new capabilities added to Oracle Fusion Applications Suite will help healthcare organizations adopt new business models, embrace rapid innovation, build agile and sustainable supply chains, and better serve patients' needs—now and in the future."
Oracle Fusion Applications Suite enables organizations to take advantage of the cloud to break down organizational silos, standardize processes, and manage finance, HR, supply chain, and customer experience data on a single integrated cloud platform. With quarterly update cycles, customers can gain access to continuous innovations as new capabilities are added regularly.
To learn more about Oracle Fusion Applications Suite, please visit: oracle.com/applications
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com
About Oracle Health Conference
To see these technologies in action and discover how Oracle Health is connecting an ecosystem of health innovation, join the Oracle Health Conference in Las Vegas on Sept. 18-20, 2023. Designed for customers, the Oracle Health Conference is the best place to explore products, address industry challenges, and network with peers to advance health globally. Visit https://www.oracle.com/oracle-health-conference/ to learn more and register.
Forward-Looking Statements Disclaimer
Statements in this article relating to Oracle's future plans, expectations, beliefs, and intentions are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect Oracle's current expectations and actual results and could cause actual results to differ materially. A discussion of such factors and other risks that affect Oracle's business is contained in Oracle's Securities and Exchange Commission (SEC) filings, including Oracle's most recent reports on Form 10-K and Form 10-Q under the heading "Risk Factors." These filings are available on the SEC's website or on Oracle's website at http://www.oracle.com/investor. All information in this article is current as of September 18, 2023, and Oracle undertakes no duty to update any statement in light of new information or future events.
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