ERP Software in the Health Care Industry

There has been a significant growth in health care industry recently which has enabled the hospitals to use latest technology like ERP for better services and provide value for money to their patients. Hospitals cannot continue to follow old practices and technologies. They need to be updated in terms of use of latest technology and faster information transfer for better services and retain their patients.ERP in health care industry still needs lot of development as most of the ERP solutions today are inclined towards manufacturing or distribution and have some common features with health care industry but lack in providing industry specific solutions. Still ERP can be of immense help in improving the working and value realization of any hospital of any size.ERP in health care industry can be very handy in improving human resource management for maximizing the value realization of investment done on the human capital. ERP system can relate the HCM applications with customer relationship tools to make every employee responsible for his actions and directly involved in the success of the organization. ERP in health care industry help greatly by providing an edge in anticipating demands for skilled work force and improving the retention rate to use their work force as strategic asset.Lower operational cost in another marked improvement brought in by the use of ERP in health care industry. With the use of ERP, human intervention and requirements are reduced, information transfer is quick and automated, tedious works like scheduling and appointments can be managed with greater ease and lesser effort, patient management like registration, discharge, billing and transfer can be done with lesser manpower to cut down the cost of operations drastically. The hospitals can utilize this money and energy for improving other industry specific processes.Financial management is another department where ERP provides innovative solutions to increase profit margins by providing cost cutting methods, better managerial reports, risk management and better insight in the business. The integration of various financial processes and development of new processes help in much better financial management of any unit of health care industry.Inventory management has been an integral part of any ERP solution and it continues to work as an important feature in the ERP for health care industry too. Any hospital faces big challenges of maintaining the inventory and instruments required on daily basis by the hospital staff for daily services. ERP solutions is of great help in maintaining minimum levels of inventory, instrument maintenance and purchase, reorder status, expiry, helping in finding more economical sources and suppliers. Better inventory management helps in giving better services and increasing profit margins.Front office of any hospital is of prime importance to provide updated information at one desk. Bed availability, appointments, schedules of doctors, specialized services and treatments and other information are readily available to the people working at the front desk and also ERP for health care industry supports front desk by their expert advice on any latest medicine, disease or treatments.Though there are many opinions for unavailability of an industry specific ERP solution for health care industry but presently available solutions also contribute immensely in improving the working of hospitals to have an edge over growing competition.