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Oracle today expanded its Fusion Cloud offerings to better support healthcare organizations in delivering improved patient care and experiences.
Even after years of advancements, many hospitals and clinics find themselves struggling with issues that end up affecting patients’ quality of care. Unpredictable market supply and demand, for instance, can make it difficult for them to predict supply shortages, manage pricing or replenish orders quickly. In other cases, problems like staff burnout, lack of skills or inefficient operational planning can affect the ability to deliver optimal patient care.
To address such issues, at the ongoing CloudWorld 2022 conference in Las Vegas, Oracle introduced healthcare industry-specific updates to its three core products: Oracle Fusion Cloud Supply Chain & Manufacturing (SCM), Oracle Fusion Cloud Human Capital Management (HCM) and Oracle Fusion Cloud Enterprise Performance Management (EPM).
Oracle Fusion Cloud SCM
Fusion Cloud SCM offers different capabilities to help organizations respond quickly to changing demand, supply and market conditions. Oracle is introducing updates to SCM aimed at optimizing planning, automating processes and enhancing visibility across the supply chain. These include a new home equipment delivery solution for better equipment and maintenance tracking; intelligent shopping experiences and curated product catalogs for quick ordering of supplies; and intelligent reordering and planning capabilities to automate the ordering process and ensure supply replenishment well before stock runs out.
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The offering also brings capabilities to optimize procurement and supplier management processes, which ultimately drives down administrative costs and improves profitability.
Oracle Fusion Cloud HCM
With updates for Fusion Cloud HCM, Oracle is tackling aspects like employee efficiency and experience.
On the efficiency front, the company is introducing Oracle Dynamic Skills to easily detect and track skills required to meet patient needs, and grade step progression capability that enables easy compensation adjustment for workers as they upskill, gain new credentials or progress to the next level in their careers. In the employee experience area, it has added AI-powered tools into Oracle ME that enable teams to deliver personalized employee experiences; decrease costs; and automate manual processes to save time, reduce burnout and enable staff to focus more on patient care. The product also brings the ability to optimize scheduling to make sure that the right staff is available for patient care at the right time.
Oracle Fusion Cloud EPM
Finally, with Fusion Cloud EPM, Oracle is introducing solutions to help hospitals and clinics better plan for future scenarios. These include connected planning capabilities with embedded healthcare-specific best practices for financial statement planning, as well as data science-driven performance management capabilities to find trends, anomalies, forecast bias and variations that may not be immediately apparent.
The update also includes scenario-modeling capabilities that help healthcare organizations anticipate patient demand for specific products, and long-range financial modeling capabilities that increase visibility into costs and profitability. There are also capital expense planning capabilities with healthcare-specific features to provide detailed predictions on the impact of new and existing assets, and workforce planning functions to predict demand for healthcare staff, physicians and caregivers from time to time.
The Oracle CloudWorld conference runs October 17–20, 2022.
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