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Thanks to recent advancements in technology, healthcare providers are now turning to ERP software instead of relying exclusively on paper records. Patients and healthcare providers alike enjoy impressive benefits as a result.
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Recent research predicts that by 2025, the US healthcare system will reach a market size of $2.1 billion. The rapid growth of this sector makes the use of ERP software in healthcare essential, as traditional record-keeping is insufficient to the task at hand. But ERP software efficiently and reliably gathers and consolidates data while keeping it confidential.
Eight Benefits of ERP in Healthcare
1. ERP Software Gives Easier Access to Medical Records
Until recently, healthcare providers kept patients’ medical records in paper files stored in filing cabinets that took up enormous space in the office. When a patient arrived, they were sometimes forced to wait while staff members searched for their files. Then, unless they possessed prodigious memories, doctors and other healthcare professionals had to search through these sometimes massive paper files to learn what they needed to know in order to properly treat the patient.
But with ERP software every patient’s records reside in a single platform. There, any information the healthcare provider might need is just a click away. This minimizes the time providers need for pulling up and researching patient files.
ERP software really came into its own during the pandemic. Practically everything in the world came to a screeching halt, and most businesses had to close. But healthcare was on the front lines in the war against the virus. ERP software gave clinics and hospitals the ability to provide remote care, even monitoring patients’ vital signs remotely. Because they could easily access patients’ electronic records, they were able to keep in-person visits to a minimum.
2. Patients’ Records Remain Confidential
Medical records must be kept confidential, and confidentiality is less likely to be compromised with ERP software, as only authorized individuals are able to access patient records. Moreover, even if a breach does occur, it is often traceable. In other words, it can be a fairly simple matter to determine who illegally accessed electronic records.
3. Clinics Benefit from Smarter Business Intelligence
If you own a healthcare clinic, ERP software will give you an advantage when it comes to overseeing your facility’s business operations. You will be able to access information about your clinic’s performance, its budget, and more. Therefore, you will be better able to make smart decisions about running your business.
4. Healthcare Providers Can More Accurately Monitor Costs
Every industry needs to have proper financial monitoring to accurately account for both income and expenses. The healthcare industry is no exception.
ERP software easily monitors income and outgo. It gives authorized members of your staff effortless access to salaries, operational expenditures, and patient payments. It also minimizes the effects of human error, as much of the process is automated.
5. ERP Software Simplifies Industry Compliance
Every healthcare provider must comply with regulatory requirements, and this is where ERP software truly shines. While regulatory compliance is never a simple matter, having the right software will definitely make this part of running your facility much easier.
6. ERP Software Reduces Operational Costs
Consolidating all of your facility’s data within a single platform will reduce operational costs. You’ll be able to leave billing, inventory, and other operations in the hands of a few trained individuals, thereby minimizing costs for labor.
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7. It Streamlines Process Integration
When your facility uses ERP software, its various processes will be streamlined. This will improve efficiency, collaboration, and communication.
8. Patient Safety Improves
The patient puts his or her trust in their healthcare provider, and it is up to the provider to safeguard that trust by using a system that’s transparent with financial transactions as well as with communications about patient care. ERP software protects both the patient and the healthcare provider in these matters.
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