When we speak about hospitals’ ERP market size, we essentially include it under the healthcare ERP market size. From $6.5 billion in 2021 to a forecast of $11.7 billion by the time we are in 2030, it exhibits a growth trend.
From inventory management to resource utilization and from patient care management to finance and billing, a hospital management system is spread across several modules. However, for several years, the industry struggled to make processes easier and excel at providing the best-in-class patient care.
With the growing number of dreaded ailments and increasing demand for world-class treatments, the hospitals must ensure all the operations work in alignment with each other.
Do they require software or a system to achieve all of this?
Of course, yes!
Without a comprehensive system, it will be excruciatingly difficult to bring together all the aspects of the healthcare organization – accounting, patient management, medical supplies management, pharmacy management, and so on – on one page.
In competitive and rapid times like today’s, there is barely any task that can be undertaken manually. Especially for hospitals that have a constant inflow of patients turning in to receive medical help, the operations need to be driven by a system that guarantees accuracy and speed.
Enterprise Resource Planning or ERP is the system that can help the institutions and medical organizations like hospitals to overcome the hurdles they have been dealing with for so long.
Let’s dive into the concept of ERP for hospitals and learn about the following aspects:
- What is ERP for Hospitals?
- Why do Hospitals need ERP?
- What are the Benefits of Integrated ERP for Hospitals?
- What are the Challenges the Hospitals face?
- How can ERP solve the problems for Hospitals?
- How has COVID-19 Highlighted the Importance of ERP for Hospitals?
- How can Deskera Help You?
- Key Takeaways
- Related Articles
What is ERP for Hospitals?
An organization can function to its optimal degree only when the managers and owners have accurate information about all the components of their enterprise. Typically, an organization comprises modules like accounting, inventory management, HR (Human Resources), and CRM (Customer Relationship Management).
Enterprise Resource Planning or ERP is a system that helps them access and store all the integrated data belonging to various departments in real-time.
There is a lot of vital information that keeps pouring into the company from these modules. There are bills, invoices, stock-in and stock-out information, staff information, and data related to customers. All these aspects need thorough monitoring and analyses, which is essential for drafting accurate financial statements. It is through these reports that the company can assess its growth parameters.
We can think of an ERP system as a framework that holds together the real-time information entered into it from various departments of the company. Furthermore, this data can be monitored and utilized for further assessments by the company owners, managers, or anyone who is authorized to access it.
ERP for Hospitals
Now that we have a notion of the concept of ERP, let’s learn about how ERP can be used in a hospital. Hospitals are busy places. The hospital administration needs to be on its toes when handling information from the different departments.
There are patients, the in-house staff, doctors, medical supplies inventory, pharmacy, and the billing or the accounts department. Although this list is not exhaustive, it is a typical functional scenario in a hospital.
To handle the various core business operations efficiently and in a timely manner, ERP systems can offer a huge helping hand. Fundamentally, an ERP system integrates these core services and lowers the operational costs for the healthcare organization.
Why do Hospitals need ERP?
Hospitals are healthcare centers that continuously face the challenge of lowering their operational expenses and overhead without having to compromise on their services of providing excellent care to patients.
Implementing an ERP system can not only direct them towards increasing efficiency and productivity but also help them achieve operational precision across departments. With an ERP system in place, the hospitals are better positioned to improve workflow owing to lesser manual and laborious tasks. This can indicate cost savings in the areas where labor is deployed. Additionally, the hospitals are better enabled to offer outstanding medical attention and care to the patients.
The following image illustrates a typical ERP setup within a hospital with some of the crucial elements and their operational relevance.
Hospitals are places that have a strong demand for real-time and faultless information. An ERP system works towards giving them high visibility to the database which can be accessed by doctors, their teams, or the billing desk and reception for various activities.
Inventory management and Batch Tracking: Various kinds of medical supplies such as masks, syringes, cotton, etc., constitute the inventory in a hospital. Monitoring the inventory becomes simpler with an ERP system.
Another aspect is the batch tracking of medical supplies in the hospital or the pharmacy can be easier with a one-stop database. ERP can reliably send expiry alerts for the management to take action and place orders at the right time. Stock in/ out will be simpler to evaluate with a central system in place.
Financial Management: An organization must monitor the financial data coming in from the various departments to ensure informed decision-making. An integrated system lets them have all the financial reports in the database for the managers to analyze. With this, allocation of amounts, managing payments, and building budgets becomes really simple.
Accounting: The ERP system with the accounting module helps life become easy by integrating the general ledger and all the other statements collected on one platform. The accounting team can conveniently spot any errors or faults before the month ends. It also enable them to close the statements without laborious tasks.
Furthermore, they can have all access to the various bills, and invoices, and keep an eye on the expenses.
Staff and Doctor Management: Leave management, appointment schedules, payroll, and doctor check-in schedule are some of the things that ERPs can manage under this category. Am ERP enables the hospital administration to have clear insights into the hiring procedure and formalities, bonuses, employee benefits, overtime, and also remain compliant with the US statutory regulations pertaining to tax returns filing.
Patient Management: This includes registration of the new patient, managing visits, scheduling appointments, allocating resources for them, and payments. From storing the patient data electronically to their billing and payment application, all are facilitated by the patient management module of the ERP.
Pharmacy Management: Almost all hospitals today have a pharmacy located on their premises. The pharmacy management module of the ERP can help in purchasing drugs, keeping an accurate record of the purchased drugs, and also assist the medical experts in the hospital in various research programs. The hospitals can choose to have a separate pharmacy management module to optimize the processes associated with its proper functioning.
Compliance: Business compliance is integral to the operations of a company, and when it comes to hospitals, compliances can be more stringent. An ERP can help managers and owners to prepare and provide the required documentation. The automated updates that the ERP software offers can help the company be in line with the regulatory compliances.
The outcomes of having an ERP for hospitals can be surprisingly positive. When all the units in the hospital work in sync, they are advantageously oriented to achieve a higher level of patient satisfaction.
It goes without saying that better patient satisfaction is closely correlated to higher profitability.
What are the Benefits of Integrated ERP for Hospitals?
With an introduction to ERP in the previous sections, let’s now move towards learning what benefits hospitals can reap from implementing an ERP system.
Simple Maintenance of Medical Records
In today’s day and age, when all the patient records need to be a few clicks away, an ERP system can work wonders. Patients typically call up the hospital to know if a doctor is available or if their medical issues can be resolved by the concerned specialist. The hospital help desk must provide this information to them with precision.
The patient would generally want to know about the appointment time and the amount they would be charged. Such basic queries can be confirmed to them over a call. This eases a lot of things for them and thus, leads to a better patient relationship.
At times, there are patients who are already registered with the hospital and are calling to request a follow-up with their doctor. So, when they call, it is important that their records and medical history are pulled out effectively to present them with the information they need.
We cannot overlook the constant inflow of patients during COVID times and the amount of pressure that is put on the hospital staff. An automated system can enhance the level of medical care offered by keeping a record of the monitored health conditions (like temperature and oxygen levels) in the centralized database.
Furthermore, the system can be utilized to understand and cater to the needs of the patients who need attention right away.
Hospitals need to assess their financial performance just like any other facility or organization. When you have an ERP system, you can be assured of optimizing all the business modules – accounting, HR, inventory – under one database.
When one department enters data into the system, it is accessible to all the authorized entities in the hospital. The numbers, facts, and figures are all placed under one database. This replaces the hassles of paper-based tedious mechanisms and paves the way for lightning-fast, informed decisions.
Core benefits of automation provided by ERP are as mentioned here:
- Cuts down the labor work
- Negligible errors (due to manual typing and entering)
- Comprehensive information in one place
In other words, the chance of any errors disrupting your administrative functions is imperceptible with the automation feature of ERP.
Lowered Operational Costs
The Healthcare sector has always struggled to keep its operational costs low while providing excellent medical care. Labor costs and inventory are two areas where the hospitals need assistance to succeed.
The idea is to keep the labor and inventory costs lowered to increase productivity and profitability. An ERP database that comprises all sections, including billing, invoices, inventory, accounts, and supplies, under one shade can help in reducing overhead costs.
Streamlining Healthcare Process
OPD, medical record management, emergency services, patient records, and various specialties (radiology, cardiology, gynecology, etc.) are some of the processes that a healthcare organization needs to streamline.
Without a clear alignment among these facilities, it would be impossible for the hospitals to function in an efficient way. Additionally, the organizations are required to implement the best practices and policies that add value to the lives of the patients, and also boost their own productivity.
ERP facilitates the executives to streamline these functionalities and aid better patient care.
Improved Patient Safety and Satisfaction
When a patient arrives at the hospital with a previously diagnosed condition, they expect the hospital authorities to know their history so that they do not have to start explaining it all over again. With a centralized system, the doctors can quickly enter the unique patient id and gain access to the latest information about the patient, from their ailment, historical data, underlying conditions, any allergies, the drugs administered, and so on.
With all this data at hand, the doctor can quickly get an update from the patient and start with the next steps of the treatment.
The entire process becomes a breeze, without the patient or the doctor having to run from pillar to pillar to continue with the treatment. The doctors can, therefore, save a lot of time and see many more patients each day. The patients not only leave with a good experience but also have a hassle-free end-to-end course.
All the above points are indicative of the significance of an ERP in the healthcare sector, especially for hospitals. Healthcare organizations can achieve reduced admin costs, eliminate expensive errors, and improve patient management design, irrespective of the heavy inundation of patients.
ERP systems comprise tips and instructions to update about the upcoming compliance or regulations. This way, the system assists in eliminating issues pertaining to non-compliance.
For a sector that must place huge importance on human lives, keeping up with medical compliance is way too crucial. The ERP software is adept enough to present any irregularities or disobedience or missed abidance with any standards. Moreover, you can help prevent it once presented with information on irregularities.
Non-compliance, as we know, can lead to dire consequences and may prove to be very expensive. Hundreds and thousands of dollars can be saved by a simple implementation known as ERP!
Aiding Supply Chain Management
When we speak of supply chain management in the context of hospitals, some practices can be adopted to ensure good connectivity between the different departments. The supply chain in hospitals can be considered as a backend program that facilitates the proper functioning of other activities or processes.
An ERP system helps you get a better grip and control over your supply chain and place orders well in advance. With clear and better visibility into this area, you are better placed to predict what and when your patients would need. Additionally, your suppliers can be informed in time about the orders.
This is especially relevant in the times such as the outbreak of a pandemic as the entire supply chain is thrown off guard owing to a sudden surge in demand for medical supplies.
Business Intelligence and Strategic Planning
The term is used to describe the smartness or the intelligence with which your ERP will operate in a way to leverage your business operations. Making the right decisions that are goal-oriented and based on the insights received from the ERP system are some of the top benefits you can accomplish.
From receiving accurate financial data to estimating the performance of the various departments of the hospital, and also information on your budget, you can count on ERP business intelligence which is quick to reveal this information.
What are the Challenges the Hospitals face?
ERP is the need of the hour for hospitals face the heat on all fronts from trying to lower operational costs to cater raised levels of medical facilities. Especially when there are so many requirements flooding the organization, the sector requires software solutions that empower it to sustain and fulfill the demand or requirements in time.
This brings us to focus on the challenges that a hospital administration typically faces. Here are the details:
Manual Processes and Paper Checks
When the hospital staff is shuttling between a huge amount of paperwork on a daily basis, the risk of misreporting or manual errors runs high. Besides this, there is a considerable amount of time lost in compiling, analyzing, and sorting this data manually.
Everyone is equally affected, from the reception desk to doctors, owing to a lack of a centralized system that stores this essential information for them. Not only are these procedures inefficient, but they also take away the precious moments that the staff could have dedicated to quality patient care.
An automated system becomes the need of the hour in such a case.
Fixed Asset Management
Managing their fixed assets has always been painful for hospitals owing to the hoards of varieties of assets it needs to maintain. To understand this feature of an ERP system, let’s run through the concept of fixed assets.
What are Fixed Assets?
Fixed assets are the tangible goods in an organization that it uses for revenue generation in the future. It could be equipment, a piece of property, or an item secured for the long term. As these assets are not for sale and are not expected to turn into cash, they are different from inventory.
Within the hospitals’ framework, fixed assets constitute the medical instruments, devices, and medical equipment used for surgical procedures. There are diverse types of such instruments and tools that the hospital invests in. Managing such a huge room of assets is troublesome for the administration and poses a colossal challenge in the absence of an integrated system.
Medical Supplies Management and Supplier Relationship Management
Medical supplies are a huge range of medical devices and equipment that is utilized in hospitals for catering to patient needs and for treating dreaded ailments.
While the cost of these supplies has always been a cause of concern for the hospital management, the suppliers have also complained of a hostile deal being meted out to them in terms of monetary compensation.
The healthcare supply chain is therefore seen as a complicated system. All the stakeholders involved at each level of the chain have their own interests to protect. While the suppliers may want to pitch a product owing to their expertise with it, the hospital managerial staff may want another one owing to affordability. Such things lead to a misalignment between the two.
Thus, recent times have witnessed a few cases of strained relationships between the suppliers and the hospital administration.
Managing the cost of the supplies has been another hurdle for the organizations. It is, therefore, important for all the entities involved to look towards SRM as the final approach that can help reduce costs, yet, enhance the smoothness of service delivery.
Lack of Insight into Expenses
This can, again, be attributed to the manual system of work which is laborious and error-prone. The mistakes introduced while entering the data manually can present a wrong picture of the purchases and expenses.
Manual entry of invoice data or entering amounts of bills has been a matter of concern for healthcare facilities for a long time. In the absence of an automated accounting system, it could become increasingly agonizing for the staff and accounting team to examine the data for authenticity.
All this ultimately results in the lack of vision into the actual and accurate expenses the business is experiencing, which in turn, could be a disaster waiting to happen before the business realizes the blunders.
Poor HIPAA Compliance
In the medical sector, one of the prime challenges is maintaining compliance and securing the payment data through HIPAA compliance.
HIPAA stands for Health Insurance Portability and Accountability Act. HIPAA was introduced with the aim to restrict and protect the healthcare data of patients.
Purpose of HIPAA
HIPAA is for business associates and mandates them to secure the PHI – Protection of Health Information. Primarily, it fulfills the following functions:
- Restricting the disclosure of health information of the patients
- Let the patients access their health information on request
- Maintaining a track of PHI activities for an audit, if required
The medical fraternity and the sector has been struggling to keep up with the ever-changing rules and constant updates of HIPAA regulations. The results of non-compliance have been hefty fines and penalties, apart from losing the trust of their patients.
In other words, the electronic information stored in the hospital database must be protected from any kind of misuse by unauthorized entities. The reason for storing the electronic data is to provide better care and service to the patients, improve workflows, quicker diagnoses and subsequent treatments.
PHI covers all this information, and therefore, it is critical to protect it from human errors occurring through manual processes. Any misuse of this personal information can eventually damage the reputation of the hospital and result in significant losses, both financial and social.
There is a tremendous financial value associated with patient healthcare information. This fact attracts a lot of cyber threats by cybercriminals who want to exploit this information and use it for personal benefit.
According to reports generated by the US Department of Health and Human Services, there have been more than 650 security breaches in the recent past. Most of these breaches have occurred due to one of the following reasons:
- Lack of integration
- Inadequate healthcare IT departments
- Old systems that are not configured for modern medicine and technology
As a result of this, the hospitals have had to bear the brunt of lowered trust, reduced profitability, and increased overall costs. Cybersecurity is, therefore, one of the areas that require immediate attention by the hospital administration.
Finding an ERP
There are a host of readily available ERP systems. Not every system is suited to include all the business operations that the hospitals would want to manage. There are a lot of variants available to choose from, yet, finding the one that meets all the business requirements of hospital management can be cumbersome.
Another problem is personalization. While ERP software may offer a variety of features, not all of them will find applicability in your scheme of things. You may want to include one feature and leave out the two that do serve a purpose, but that level of customization may also leave you with few options.
A complicated interface can be another issue where the hospital staff is not well-trained. A scenario with untrained or poorly trained staff will only lead to underutilization of the software system. Eventually, it will not yield positive results.
Most companies find it challenging and often settle with software that offers half-baked solutions. However, the latest trends depict the advancement in the area, and there have been efforts in the direction of developing ERP software to meet the needs of medical organizations.
Also, hospital organizations can overcome this hurdle by investing in dedicated software that meets all their requirements and is optimized for their business.
How can ERP Solve the Problems for Hospitals?
Hospitals worldwide strive to improve lives for everyone who approaches them. But what does it take to keep their systems running?
Surrounded by so many issues, how does implementing ERP software improve their operations? We have taken a long look at the diverse sets of challenges that hospitals face. Now let’s understand the benefits an ERP system introduces to the overall functionality of a hospital.
Lowers Operational Costs
When billing, supplies, inventory control, and human resources, are all integrated, the storing and tracking of crucial data becomes effortless. In other words, the staff in these respective departments are spared the manual and laborious tasks due to automation. The entire process works to enhance the productivity of the staff and, thus, lowers operational costs.
Also, the manual work is replaced by automated functions and thus reduces the risk of costly errors across the business operations.
Fixed Asset Management Module
ERP systems can potentially direct medical organizations toward efficient, fixed asset management. A dependable fixed asset management system under the ERP software ensures appropriate maintenance of all the fixed medical assets in the hospitals.
Aside from this, the system can monitor if the assets are regularly tested and are adequately functional when in need.
What is the Significance of the Fixed Asset Management Module?
Most ERP systems will offer a fixed asset management module to achieve the following:
- Maximize asset reliability
- Predict asset failure and aid in the prevention of failure
- Helps in compliance with operational rules and regulations
- Monitor costs associated with the use of asset
- Assure maintenance and proper functioning of the medical assets
Along with these points, the system can effectively chart out details regarding the asset depreciation and the rate of depreciation.
The ERP software integrates this module with other modules, such as the General Ledger module to offer better control.
Helps in Strategic Planning
The fundamental strategy that an efficient ERP system drives is to bring all modules together and integrate them to achieve a higher productivity ground. When one unit or department of the hospital feeds data into the database, and when the modules are well integrated, it results in improved yield.
The success of an enterprise is estimated by the amount of profit and the growth it registered in a financial year. We know for a fact that improved productivity is directly proportional to financial growth. Thus, an ERP is can be safely termed to be instrumental in aiding the strategic planning to drive the growth of the medical organization.
Better Financial Management
From the cost of supplies to managing the bills paid by the patients, the ERP ensures keeping a tab on all these components. With the help of various modules, the ERP catalyzes the reduction of mistakes related to inventory and administration.
Apart from this, the system also oversees purchase management along with distribution to save a considerable amount of time. Such tasks were typically undertaken by the doctors and other staff members. These resources can now be channeled towards more fruitful and important jobs.
Improved Patient Relationship
The ERP expertly stores the patient data which can be later accessed by the doctors and concerned medical staff like radiologists, x-ray technicians, etc. The data is transferred to the relevant healthcare provider’s desk and help them take the right course of action for further treatment.
The patient does not have to fill out any forms of medical history and is not subject to the to and fro journeys from the reception to the physician’s cabin. The data updated on the system is available on the physician’s screen in just a few clicks. The doctors can rely on the data found in the system and guide the patient with the right medication.
Another aspect of ERP that enriches the lives of patients is the payment process. Expediting the insurance claims procedures and facilitating quick payment leaves a good impression on the patients. In other words, the ERP is instrumental in building trust among patients.
Helps in Tracking Medical Tools and Supplies Inventory
Medical devices, equipment, and tools are integral to the functioning of hospitals. From syringes to ventilators, from surgical cotton to bandages and gloves, all comprise the medical consumables family.
Hospitals are buzzing with patients, each with a different ailment and requirement. It is impossible to predict what kind of ailment will require attention next. To be prepared for this kind of scenario, the hospital management must be prepared at all times with adequate medical inventory. Also, the medical equipment may be imported from another part of the world which may involve dealing in different currencies as well.
- Managing multi-location warehouses and assessment of dealings in multiple currencies becomes a lot easier with the use of the inventory management module of ERP.
- The warehouse space can be optimally utilized, thereby reducing operational costs.
- Tracking medical supplies stock and providing insights into the inventory reorder levels, batch tracking, batch expiry, stock in, and stock out information is simple to analyze with effective inventory management.
- The system facilitates automated reordering, which prevents the organization from running out of fast-moving supplies. Automation can be set for this kind of stock and thus, hospitals can have a timely delivery of the items that are frequently required.
- Storage and warehousing issues can be resolved in a short span easily.
Apart from this, handling stock entries, integration of POS and finance, and stock allocation are some of the other critical areas where the inventory module can be a valuable resource.
To summarize, an inventory management module in the ERP can automate all processes and also examine ongoing transactions.
ERP systems can be extremely helpful when it comes to abiding by the regulatory compliances of the medical sector. Hospitals need to be updated about the consistently updated compliances to keep problems like penalties and fines away.
Furthermore, compliances ensure enhanced patient safety and heightened security of patient records and information. For example, ERP systems are well-adept to inform the administration about maintaining compliance with HIPAA.
ERP systems can actually prove to be a fantastic solution to keep sensitive patient data from falling prey to cybercriminals and prevent it from being misused or exploited. By using best practices for data security, risk management, attack prevention, and protocols for security improvement, ERP systems can handle data security very well.
Here are 3 ways in which hospitals can protect their data:
Multifactor authentication: Hospital authorities can choose an ERP system that facilitates mechanisms that support multifactor authentication. This would effectively help curb any unauthorized access.
Automation: ERP systems can function wonderfully well when they experience the least disturbance or human interaction. Automation enables users to maintain business information without much manual effort. Furthermore, it helps the speedy detection of threats and also offers remedial action against the threats.
Behavioral monitoring: It is essential to monitor the behaviors of both humans and the running applications. This kind of setup enables you to monitor any unexpected or unauthorized activities or check-ins.
How has COVID-19 Highlighted the Importance of ERP for Hospitals?
Pandemics are unforeseen. COVID-19 has taught a valuable lesson to the global healthcare sector. We have now learned closely why an enhanced and integrated system is the need of the hour.
We know now how integrated software allows all aspects of the business to mingle with each other, transfer and access data, and help the healthcare business in providing better healthcare facilities in record time. The hassled patients arriving in hundreds have been an eye-opener about how a quick and automated way of working can reduce errors and speed up patient care.
With COVID-19 on the rise a couple of years ago, all the healthcare systems across the world, including the US, were obligated to build new strategies for obtaining and assigning basic and essential medical supplies.
All the chaos served as a wake-up call for healthcare executives to analyze investments into technologies that helped increase the robustness of the supply chain.
In other words, COVID-19 has had the maximum impact on the supply chain of hospitals, where there were towering demands for masks, antiviral, and antibiotics as the hospital staff scraped to protect themselves from the virus. As the demand kept growing, the manufacturing units struggled to keep up with it. With the increasing number of manufacturing staff falling prey to the virus, the factories and manufacturing units came to a halt. This further aggravated the situation.
With the dreadful phase almost behind us now, the hospital admins have focussed their attention on newer technologies and software that lets them be better prepared for the future. Caring for patients, maintaining the well-being of their doctors and staff, and managing essential business operations like billing and inventory are at the top of the list for the healthcare sector.
With this, it would be right to conclude that an ERP with multiple essential healthcare modules is the key to moving forward with all the vital parameters covered!
The article aims to emphasize the growing relevance of ERP systems and their implementation in the ever-evolving and dynamic world of healthcare organizations. Any enterprise or organization that seeks to sustain profitably in this ecology must deploy and execute efficient systems.
ERP for a healthcare organization or hospital ensures leveraging the existing patient care and treatment facilities with ease. Additionally, it empowers the hospital administration to move toward financial growth while building valuable trust.
How can Deskera Help You?
Hospital administrations need to be on their toes all the time. This calls for the management to keep all its operations sorted with a fully integrated system. Deskera ERP can be the ideal solution that provides complete integration of your business modules.
With an efficient accounting module – Deskera Books, you are enabled to automate all your accounting tasks like billing, approval flows, multiple currency payments handling, invoices, and payment gateways easily.
Managing hospital staff is a crucial aspect of the overall functioning of the hospital and Deskera People can help you manage it just right. From attendance to leaves of the hospital staff and doctors, managing bonuses, payroll insights, the system is remarkably adept to help you manage everything really well.
Deskera CRM helps you monitor and engage with your customer base through e-mail marketing, CTAs, customer service, and also receive real-time information on your dashboard.
With all the features, Deskera ERP serves as a comprehensive solution to rejuvenate all your business operations and report growth and productivity.
- From inventory management to resource utilization, and from patient care management to finance and billing, a hospital management system is spread across several modules.
- Typically, an organization comprises modules like accounting, inventory management, HR, and CRM, to name a few.
- Enterprise Resource Planning is a system that helps organizations access and store all the integrated data belonging to various departments in real-time.
- Hospitals are healthcare centers that continuously face the challenge of lowering their operational expenses and overhead without having to compromise on their services of providing excellent care to patients. This drives the need for ERP in hospitals.
- Providing business intelligence, strategic planning, maintenance of medical records, automation, lowered operational costs, streamlining healthcare procedures, improved patient safety, and simpler compliance are some of the benefits ERP brings to hospital administration.
- Manual process, fixed asset management, medical supplies management, lack of insight into expenses, cybersecurity are some of the major challenges hospitals face.
- ERP ensures that a hospital or healthcare institution may easily utilize the current patient care and treatment facilities.
- It also gives the hospital administration the ability to foster important trust while working toward financial success.