Oracle has officially announced the launch of brand new capabilities for its Oracle Fusion Cloud Applications Suite, capabilities that are all designed to help healthcare organizations drive operational efficiency, empower employees, and improve patient outcomes. According to certain reports, the stated advancements will be particularly introduced within solutions like Oracle Fusion Cloud Supply Chain and Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Enterprise Resource Planning (ERP), each appearance meant to streamline processes, support increased productivity, help reduce costs, foster employee growth, and of course, more effectively serve patient’s needs. Now, while that is significant in its own right, Oracle also took this opportunity to launch a Oracle Healthcare Marketplace, a B2C shopping experience within Oracle Fusion Cloud Procurement. Talk about the offering on a slightly deeper level, though, it begins by bringing the means to maximize on-contract spend. You see, leveraging an integration of all available contracts, including Group Purchasing Organization (GPO), and locally, regionally, and nationally negotiated contracts, Oracle Healthcare Marketplace makes it possible for an institution to easily access their full portfolio of contracts and supplier sources. Not just that, the feature in question also treads a long distance to expedite sourcing and contracting processes, while simultaneously helping these institutions increase savings by optimizing on-contract purchasing.
“Healthcare organizations are under pressure to deliver a consistently high standard of care while controlling costs and addressing employee needs,” said Steve Miranda, executive vice president of applications development at Oracle. “The latest additions to Oracle Cloud SCM, Oracle Cloud HCM, and Oracle Cloud ERP will help our customers build more efficient and resilient supply chain processes, enhance the employee experience, improve planning, and better support frontline workers so they can focus on what matters most – delivering high-quality care to their patients.”
Next up, we have the prospect of improving product data accuracy. Here, the idea is to use the new marketplace to automatically cleanse product catalog data, and therefore, empower healthcare institutions in terms of improving data consistency and accuracy across source systems. Such a facility, like one might guess, should allow for the said organizations to save time and resources, and at the same time, facilitate a meaningful reduction in spending on costly non-catalog requests that result from incorrect product or pricing data. Joining the same is a promise of enhanced buying experience. The stated promise banks upon third-party medical, surgical, and device product catalog to assist healthcare institutions of all sizes discover, source, and price desired items that are not listed within an organization’s existing item master, frequently purchased items, or contract portfolio. This, on its part, is expected to increase productivity in sourcing and minimize order errors.
Coming back to the updates made across Oracle Cloud HCM, they ensure that the solution can now aid your case in attracting, retaining, and developing talent so to deliver the highest quality of patient care. On the other hand, this particular mechanism also has a part of its utility rooted in giving employees new growth opportunities and helping business leaders manage complex staffing plans to support their teams. The latter objective involves automatically generating staff schedules based on accreditations, eligibility, and availability to work various shifts. Then, there is the renewed Oracle Fusion Cloud Enterprise Performance Management (EPM), which is now well-equipped to leverage a tool like Oracle Planning to let healthcare organizations validate plans and forecasts, therefore reducing the risk in play. Finally, Oracle Financial Consolidation & Close enters the fray to accelerate the close process and improve governance.