Industry-specific planning solutions in Oracle
Cloud EPM enable healthcare organizations to enhance insight,
optimize planning and forecasting, and improve patient care
LAS
VEGAS, Oct. 19, 2022 /PRNewswire/ -- Oracle
CloudWorld -- To help healthcare providers improve
financial performance and patient care, Oracle is introducing a
planning solution for the healthcare industry. Part of Oracle
Fusion Cloud Enterprise Performance Management (EPM), the new
industry-focused planning solution enables healthcare organizations
to quickly model scenarios, determine future demand, optimize
resources, and make better financial, workforce, and patient care
decisions.
Over the past few years, healthcare organizations have seen huge
reductions in demand for elective treatments, skyrocketing demand
in emergency rooms, and unprecedented difficulty in workforce
scheduling. These challenges have made it extremely difficult for
healthcare providers to address the rising cost of care and have
resulted in inefficiencies in many health systems.
"Outdated financial systems and processes prevent many
healthcare organizations from being able to adapt quickly to
operational uncertainties, which impact their ability to manage
costs, operate efficiently, and provide the best possible care,"
said Matthew Bradley, senior vice
president of applications development, Oracle. "With
industry-specific planning capabilities in Oracle Cloud EPM,
healthcare organizations can embrace best practices and leverage
innovative technologies to enhance insight, optimize planning and
forecasting, reduce costs, and improve patient care."
Oracle Cloud EPM solutions for healthcare help hospitals and
clinics:
- Centralize and integrate healthcare planning: Connected
planning capabilities with embedded healthcare-specific best
practices support financial statement planning across income
statements, balance sheets, and cash flow. Oracle Cloud EPM also
integrates with operational health information systems to create a
single source of truth and increase the speed and accuracy of
insights.
- Enhance decision making: New performance management
capabilities enable customers to leverage data science to find
trends, anomalies, forecast bias, and variations that may not be
immediately apparent. In addition, healthcare-specific prebuilt
KPIs, dashboards, input templates, and reports help healthcare
organizations quickly surface the insights needed to enhance
decision making and improve financial performance and patient
care.
- Determine future demand: Scenario modeling capabilities
help healthcare organizations anticipate and manage patient demand
for specific products and services, while long-range financial
modeling capabilities increase visibility into costs and
profitability and help healthcare organizations improve alignment
between staff and services.
- Manage costs and profitability: Capital expense planning
capabilities with healthcare-specific features provide detailed
predictions on the impact of new and existing assets to help
control costs, mitigate risk, and improve patient care.
- Optimize workforce planning: Resource capacity and
operational planning help to optimize workforce costs by helping to
predict demand for healthcare staff, physicians, and caregivers to
ensure healthcare organizations are adequately staffed. With
enhanced staffing planning, healthcare organizations can help
increase efficiency and improve patient care.
Part of Oracle Fusion Cloud Enterprise Resource Planning (ERP),
Oracle Cloud EPM offers a comprehensive set of enterprise
performance management capabilities to align financial and
operational planning, close the books faster, and manage enterprise
master data.
Over 11,000 organizations turn to Oracle Cloud ERP and Oracle
Cloud HCM applications to run their businesses. Oracle Cloud ERP
offers a comprehensive set of enterprise finance and operations
capabilities, including financials, accounting hub, procurement,
project management, enterprise performance management, risk
management, subscription management, and supply chain
management & manufacturing.
To learn more about how Oracle Cloud EPM can help healthcare
organizations plan more effectively, go to:
oracle.com/performance-management
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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 October 19, 2022 and
Oracle undertakes no duty to update any statement in light of new
information or future events.
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SOURCE Oracle