How ERPNext An Open Source ERP is Helping Healthcare Companies

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The healthcare industry is growing at a rapid pace and is estimated to reach a mind blowing $1 billion in the coming years.

This is due to the increased awareness we now experience about healthcare.

Government has taken the lead in providing healthcare facilities in all locations possible.

The competition is fierce in this industry, and for you to stand out you need the help of a modern enterprise technology solution.

Modern businesses are all jumping on the ERP bandwagon as they integrate external and internal management data across the board.

Healthcare businesses are among those who have invested in ERP software. It’s no surprise that hospitals benefit from ERP just like companies in non-medical fields.

Benefits of ERP Technology for Healthcare

Based on recent data, the ERP market for healthcare in the US is projected to reach $2.1 billion by 2025.

It’s time to move your healthcare data onto a single comprehensive platform.

  1. Automated Inventory Management

Being in an industry where life and death is imminent, you can’t afford to run out on important medicines.

Prosper ERP helps you track your inventory and automatically create an order request once stocks go low.

With the latest ERP software, you can replenish inventory at the right time and lower the chances of going out of stock.

Added features include a real time view of product availability, stock levels and transfers from your warehouse.

You can scan barcodes using your smartphone and make a quick search through your stock of medicine, hospital equipment, assets and more.

Call our ERP specialist and ask for a free demo today.

  1. Faster Access to Medical Records

When you get a call from a patient, your staff needs quick access to the person’s record quickly.

Outdated systems can’t keep up with the need for faster access to patient information.

This is the reason why healthcare providers are moving their paper based and manual systems onto ERP systems.

Prosper ERP allows you to access medical records in a single click.

This improves patient experience and gives your institution a higher satisfaction rate.

The COVID-19 pandemic has proven that hospitals and clinics with ERP systems have the advantage over those who use the old systems.

  1. Patient Confidentiality

Medical records are sensitive and confidential data that needs the highest security in your organization. If you still keep them in folders or filing cabinets, it’s time you switched to a secure digital data storage that ERP systems can provide.

You can’t afford to have a data breach and ruin your reputation and have your business shut down.

Reports show that in 2019, 32 million patient records were breached.

When you migrate your patient records to ERP, you can set access controls that ensure only authorized people can gain access to them.

  1. Industry Compliance

In the healthcare industry, there are stricter regulatory compliance in place. To meet all compliance requirements, your hospital or clinic must ensure that your operations are secure, visible and traceable.

Using old school record keeping can result in an audit failure or noncompliance with an industry requirement.

Prosper ERP provides the needed documentation at any time from anywhere. This makes it easier to adhere to industry regulations.

  1. Lower Operational Costs

Just like any business, keeping operating costs low and profitability high is key to success.

Hospitals and medical offices need to make processes more efficient and productive to grow profits.

When you streamline various tasks like billing, inventory, finance, supplies, accounting, and more, into one ERP platform you keep overhead costs to a minimum.

The coronavirus has impacted the operations of healthcare institutions. Having an outdated system in place can cause confusion and inefficiency which can lead to serious consequences.

If you haven’t considered an ERP system yet, now is the best time to upgrade and experience the difference.

Ask for a free demo from one of our ERP experts today.

  1. Improve Patient Safety

Prosper ERP helps improve patient safety by keeping all communications between patients and healthcare providers transparent.

You can easily trace the source of conflicts based on real-time and accurate data.

A patient entrusts his or her life to a medical institution so it’s vital to keep a clean and clear data stream whenever there is interaction.

This protects both patients and hospitals from fraudulent claims and scams. 

  1. Better Financial Management 

Healthcare organizations should not overlook their financials just like any other business.

Prosper ERP can make financial management easier by bringing various functions from accounts, finance, and HR under one database.

This helps make things more efficient especially payroll and inventory management.

You can keep track of patient payments and monitor your expenses. 

The best thing about ERP software is not just automation but the reduction or complete removal of human error.

Making financial decisions become easier when you have all the data needed on hand.

Give Pegas Technology Solutions a call today for a free demo.

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