Oracle Helps Healthcare Organizations Solve Critical Supply Chain, HR, and Finance Challenges

New healthcare-specific capabilities in Oracle Fusion Cloud Applications Suite help healthcare organizations drive operational efficiency, empower employees, and improve patient outcomes

NASHVILLE, Tenn., April 23, 2024 /PRNewswire/ -- Oracle Health Summit -- Oracle is introducing new capabilities to Oracle Fusion Cloud Applications Suite to help healthcare organizations drive operational efficiency, empower employees, and improve patient outcomes. The new capabilities within Oracle Fusion Cloud Supply Chain and Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM), and Oracle Fusion Cloud Enterprise Resource Planning (ERP), will enable healthcare organizations to streamline processes, support increased productivity, help reduce costs, foster employee growth, and better serve patient needs.

"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, applications development, 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."

Streamline Procurement with Oracle Healthcare Marketplace
To drive more efficient procurement processes and help healthcare organizations better manage spend, Oracle is introducing Oracle Healthcare Marketplace, a B2C shopping experience within Oracle Fusion Cloud Procurement. Oracle Healthcare Marketplace provides a progressive search capability that helps healthcare organizations to:

• Maximize on-contract spend: By integrating all available contracts, including Group Purchasing Organization (GPO), and locally, regionally, and nationally negotiated contracts, Oracle Healthcare Marketplace helps healthcare organizations easily access their full portfolio of contracts and supplier sources. This enables healthcare organizations to expedite sourcing and contracting processes, and help increase savings by optimizing on-contract purchasing.
• Improve product data accuracy: By automatically cleansing product catalog data, Oracle Healthcare Marketplace helps healthcare organizations improve data consistency and accuracy across source systems. This enables healthcare organizations to save time and resources, and help reduce spending on costly non-catalog requests that result from incorrect product or pricing data. 
• Enhance the buying experience: By providing an expansive third-party medical, surgical, and device product catalog, Oracle Healthcare Marketplace helps healthcare organizations discover, source, and price desired items that are not listed within an organization's existing item master, frequently purchased items, or contract portfolio. This enables healthcare organizations to increase productivity in sourcing and minimize order errors.

Oracle Healthcare Marketplace is the latest addition to Oracle Cloud SCM to help healthcare organizations optimize planning, automate processes, and enhance visibility across the supply chain. Oracle recently announced healthcare-focused mobile capabilities to help improve the efficiency and accuracy of inventory management processes.

Empower Healthcare Workers with Enhanced Employee Experiences
To support the success of healthcare workers, Oracle Cloud HCM helps healthcare organizations attract and retain skilled labor and develop talent to deliver the highest quality of patient care, while also offering employees new growth opportunities and helping business leaders manage complex staffing plans to support their teams. With Oracle Cloud HCM, healthcare organizations can:

• Attract and retain the best talent: Oracle Recruiting and Oracle Recruiting Booster help healthcare organizations efficiently source, screen, and hire in one complete recruiting solution. To help retain top talent, Oracle Touchpoints and Oracle Celebrate, part of the Oracle ME employee experience platform, help employees facilitate meaningful manager check-ins and peer recognition to reduce employee burnout and turnover, while Oracle Workforce Scheduling helps employees create flexible, personalized schedules that meet unique industry requirements.
• Develop talent based on patient care needs: Oracle Grow, also part of the Oracle ME employee experience platform, leverages AI to help leaders upskill staff to improve patient care and provide transparency into career growth opportunities with prescriptive role guides. Oracle Talent Management continuously validates licenses and certifications with third-party providers to keep key resources up to date with the right skills.
• Improve resource optimization: Oracle Workforce Scheduling helps healthcare organizations to always have the right team in place to deliver high-quality patient care by automatically generating staff schedules based on accreditations, eligibility, and availability to work various shifts. It also enables managers to better prepare for overflow and fill open shifts by leveraging financial, supply chain, and medical insights from across Oracle Cloud ERP, Oracle Cloud SCM, and Oracle Health Electronic Health Record.

Enable Better Patient Care with Comprehensive Financial and Operational Planning 
To enhance insights, strengthen decision-making, and improve patient care, Oracle Fusion Cloud Enterprise Performance Management (EPM), part of Oracle Cloud ERP, helps healthcare organizations model and plan across finance, HR, and supply chain functions. With Oracle Cloud EPM, healthcare organizations can:

• Improve forecast accuracy: Predictive planning capabilities in Oracle Planning help healthcare organizations refine and validate plans and forecasts to reduce risk. In addition, advanced predictions allow healthcare organizations to improve forecasting accuracy for patient volume, revenue, and other related expenses to effectively manage costs and resource capacity.
• Streamline financial reporting: Oracle Financial Consolidation & Close helps healthcare organizations leverage AI and automation to speed the close process and improve governance. With generative AI-powered management reporting narratives and contextual collaboration across finance and operating functions, organizations can improve productivity and focus more on overall patient outcomes.

Oracle Fusion Applications Suite enables organizations to take advantage of the cloud and the latest advancements in AI to break down organizational silos, standardize processes, and manage finance, HR, supply chain, and customer experience data on a single integrated cloud platform. With quarterly update cycles, it gives customers access to continuous innovation as new features are added every 90 days.

To learn more about Oracle Fusion Applications, please visit: oracle.com/applications

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SOURCE Oracle