Oracle Helps Medical Entities Handle Financial and Supply Chain Issues

• The Oracle Fusion Cloud Applications Suite offers healthcare-specific functionalities enabling entities to streamline operations and enhance patient outcomes.
• The conference highlights the need for healthcare organizations to prioritize transparency and collaboration across the entire delivery system, including suppliers, payers, and patient invoicing.
• As healthcare increasingly prioritizes proactive patient care, enhanced integration and collaboration across the ecosystem are vital for greater efficiency, accessibility, and equity.

During the Oracle Health Conference, Oracle introduced specialized healthcare features into its Oracle Fusion Cloud Enterprise Resource Planning (ERP), Oracle Fusion Cloud Enterprise Performance Management (EPM), and Oracle Fusion Cloud Supply Chain and Manufacturing (SCM) solutions to assist healthcare organizations in improving patient care.

The healthcare-specific functionalities have been integrated into the Oracle Fusion Cloud Applications Suite to assist healthcare organizations in enhancing financial transparency, fortifying supply chains, and elevating patient care. These will also help empower healthcare organizations to boost efficiency, reduce costs, adapt to new business models, improve decision-making processes, and enhance patient services.

Nevertheless, the healthcare sector faces significant hurdles due to unpredictable demand and increased administrative costs. These challenges include managing resource and supply shortages and adapting to changing financial requirements for patient care. These difficulties have arisen when the demand for efficient and accessible healthcare is more critical than ever.

The newly introduced capabilities within Oracle's healthcare-specific solutions empower healthcare organizations to streamline operations and adapt to evolving healthcare delivery models, from telehealth to home and community-based care. These enhancements encompass vital areas, including financial consolidation and reporting, which provide healthcare organizations with the tools to maintain comprehensive financial oversight in a complex healthcare environment through AI and automation. In procurement, these capabilities help reduce expenses and enhance the efficiency of medical supply orders, including contract and pricing integrations with group purchasing capabilities. Furthermore, replenishment planning and recall management features improve the availability of medical supplies by predicting demand and facilitating efficient recall processes to enhance safety and reduce risks within the healthcare supply chain.

Steve Miranda, Executive Vice President of Applications Development at Oracle, stated,

The new capabilities added to Oracle Fusion Applications Suite will help healthcare organizations adopt new business models, embrace rapid innovation, build agile and sustainable supply chains, and better serve patients' needs—now and in the future.

The Oracle Fusion Applications Suite will empower organizations to leverage cloud technology for dismantling internal barriers, standardizing operations, and centralizing financial, HR, supply chain, and customer experience data within a unified cloud platform. Through quarterly update cycles, customers can continuously access the latest innovations as new capabilities are regularly incorporated.