Just What the Doctor Ordered: Why NetSuite is the Best ERP for Healthcare Organizations

Jun 27, 2022 | General Business

Faced with the ongoing challenge of improving patient care while reducing operational costs and gaining efficiencies, healthcare organizations frequently turn to enterprise resource planning (ERP) platforms that help them enhance productivity, accuracy and efficiency across their many different departments.

In comparing the various different ERPs available on the market today, NetSuite stands out as a frontrunner on most healthcare organizations’ shopping lists. That’s because the platform offers a wide range of native functionalities and also integrates easily with many of the technology solutions that healthcare organizations are already using (or, that they want to start using).

These are important “wins” for an industry that needs more automation and operational streamlining to help it offset labor issues, offer better care delivery and stay profitable through major crises like the recent global pandemic.

“Intelligent automation has played a key role in a technological reimagining of healthcare; streamlining digitization, accelerating processes, and introducing otherwise impossible efficiencies,” Jon Rabinowitz writes in How Automating Healthcare Processes Changes the Way Hospitals Operate.Among other things, this means that patients receive better care as staff hands are freed from more clerical, less human facing work.”

The power of automation

By automating healthcare processes, healthcare organizations can effectively alter and improve the patient experience. Appointment scheduling software, for example, can be implemented to send patients an electronic invitation to reschedule appointments that have been missed. And, appointment reminder software sends reminders to patients in a timely fashion to help prevent no-show appointments.

“In an industry with operating margins as thin as hospitals, it’s all a matter of efficiency, and the day is routinely won (or lost) at the margins,” Rabinowitz pointed out.

“In fact, it’s estimated that eliminating [these] inefficiencies would translate to annual savings in the amount of $140 billion,” he added, “making it a perfect example of how automating healthcare processes, even ostensibly trivial processes, meaningfully drives the industry forward.”

The NetSuite advantage

NetSuite’s robust, cloud-based platform gives hospitals, diagnostics centers, laboratories and doctors’ offices the robust tools they need to stay on top of finances and other aspects of their businesses. Using real-time reporting tools, for example, organizations can keep close tabs on their financial performance, identify areas of improvement and make good decisions about their current and future operations.

NetSuite also handles budgeting, billing, financial consolidation, revenue recognition and other core capabilities. And, it easily integrates with other business applications. Built in the cloud and for the cloud, NetSuite helps healthcare organizations:

Improve visibility and transparency

Customizable role-based dashboards provide real-time access to key business data, enabling timely decisions across the entire organization.

Adapt to the changing healthcare landscape

Organizations can configure processes, workflows, and reporting and information needs unique to the industry, then easily make future adjustments as required.

Streamline reporting and compliance

The ERP simplifies and facilitates compliance by supporting internal controls and providing accurate, real-time reporting with a complete set of audit trails.

Improve customer service and partner engagement

With NetSuite in place, healthcare organizations get real-time, 360-degree views of their customers. This helps them deliver better customer and partner service thanks to NetSuite’s unified customer relationship management (CRM) solution.

NetSuite financial management software provides comprehensive, ERP/financial capabilities that integrate with an organization’s broader back-office, sales and service processes. This proven financial management solution helps healthcare companies be more productive with real-time tracking, reports and auditing tools.

NetSuite OneWorld is the most deployed cloud ERP solution for global businesses. With it, organizations can manage multiple subsidiaries, business units and legal entities all from a single cloud ERP system. This accelerates financial consolidation and visibility while seamlessly handling different currencies, taxation rules and reporting requirements.

Using NetSuite’s integrated budgeting and forecasting capabilities, organizations can leverage collaborative budgeting, planning and “what-if” modeling capabilities—all of which are integrated with core financials to drive strategy, planning and execution. Finally, NetSuite gives healthcare organizations a single repository of customer interaction in both B2B and B2C environments, thus enabling superior service quality with a complete 360-degree customer view.

Get NetSuite in your corner

As more healthcare organizations use modern tools and technologies to run their operations, they’re realizing benefits like faster data retrieval, improved ordering processes, faster billing cycles and other automation-driven benefits. At the patient level, these benefits may translate into earlier disease detection, faster and more precise medical diagnostics, fewer data errors and an overall higher quality of care.

With NetSuite and ERP Success Partners in their corners, modern healthcare facilities can vastly improve operational visibility, minimize the complexities of running a multifaceted operation and stay agile in any operating conditions.  

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