Did you know that over the next decade, health systems could face a 25 percent reduction in revenue thanks to declining reimbursements, evolving payment models, consolidating networks and an increase in price transparency? It’s no secret that in order to survive in today’s ever-changing healthcare environment, total cost reduction is a must.
Many health systems are looking to enterprise resource planning (ERP) solutions to help improve quality outcomes and safely reduce costs. But with so many ERP solutions available, how do you know which one is right for your organization? And what if you already have an ERP system in place? Do you know if it is really working for your organization?
Whether you are selecting an ERP solution for the first time, or looking to change vendors, it is crucial that you make the right choice that best suits your organization’s needs.
To help you make the right choice, here are four important decision-making questions to ask yourself when selecting an ERP solution.
1. Finding the Right Fit. Does the ERP solution fit your budget, but also offer all the necessary features?
When searching for an ERP partner, a thorough comparison of all potential vendors is suggested to ensure you only pay for functionality applicable to healthcare and that you’ll actually use. Spending money on bells and whistles that you won’t use or having to customize a solutions to fit your workflows, wastes money. Look for a proven ERP solution that includes the tools you need and maintains a low total cost of ownership by minimizing resources essential to implement, support and upgrade the technology.
2. Seamless Integration. How seamless is the integration with other solutions?
It’s essential for your ERP software to be able to easily integrate with other solutions, such as budgeting, advanced analytics and other reporting tools. Make sure you fully understand the ERP integration process with the vendor you chose.
3. Getting Started. What resources are needed to implement the ERP solution?
Once you decide on a vendor, it’s time for the real work to start! Talk with your ERP partner about the implementation process and find out what steps are needed to ensure a smooth go-live. Be sure to consider their implementation needs and how much stamina their resources have for projects with a lengthy timeline. Your goal = find an ERP vendor that offers a rapid implementation timeline supported by healthcare experts, so you can recognize value quickly.
4. Support System. How accessible is your ERP vendor’s support team?
Even after your ERP system is up and running, your vendor will still have an important role to play. After implementation, you will still look to your partner for help with tasks such as data backup and recovery, routine updates, ongoing education and just everyday usability questions. Some ERP vendors charge additional fees for ongoing support, so be sure to look into that.
Are you ready to explore the world of ERP solutions? To learn about Premier’s ERP solution, click here.
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