Many healthcare systems are working toward the same common goal: to share meaningful data seamlessly across the entire care continuum to help healthcare professionals make data-driven business decisions, while simultaneously improving outcomes, integrating daily workflows and reducing costs.
However, in today’s rapidly changing healthcare environment, revenue gains are getting harder to obtain and bottom lines are in peril. Why? Information overload. Managing and understanding data from multiple different providers in a number of different locations and settings is not easy.
Implementing a cloud-based enterprise resource planning (ERP) solution can help improve quality outcomes and safely reduce costs. However, if your data is spread between multiple technologies and systems throughout several locations, you might find you are not getting the most out of your ERP solution, or in some cases ERP solutions.
In order to properly address current market needs and the transition to value-based care, health systems need real-time data to drive confident, holistic decisions that improve outcomes and reduce costs.
Standardized data can bring additional value to your health system by creating a number of increased efficiencies.
- Greater visibility: Extracting data from multiple systems can be a time-consuming and manual process. This often leaves leaders and staff with limited visibility to their financials and spend. Standardization of data can help enable data-driven purchasing and ensure operational decisions to be made in a timely manner across hospitals, health systems and growing integrated care delivery networks alike.
- Enhanced inventory management: Managing inventory doesn’t have to be a labor intensive task. Standardized data makes transferring supplies between departments easier than ever, and helps to significantly reduce unnecessary ordering of supplies and inventory management on patient floors. In addition, maximum volume discounts can be obtained when everyone is using the same supplies. Better inventory management + maximizing volume discounts= lower costs.
- Minimizing data maintenance. Standardization helps to minimize the need for data maintenance, saving time and improving control. When you add a new supply to your item master, you now just have to add it once to a master record, as opposed to adding it several times to separate, individual item masters.
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The post Total ERP Solution – The Importance of Standardized Data in the ERP Implementation appeared first on Action For Better Healthcare.