Oracle NetSuite has launched a new solution to help healthcare organizations improve business efficiency and support Health Insurance Portability and Accountability Act (HIPAA) compliance. With NetSuite SuiteSuccess Healthcare Edition, healthcare organizations can quickly take advantage of the latest advancements in cloud computing and artificial intelligence (AI) to help streamline business processes, expand insights, improve decision-making, optimize resource allocation, and enhance patient care.
“Healthcare is one of the biggest, most critical, and most complex industries in the world. Oracle is making a significant investment in healthcare to help simplify processes and enhance the patient experience,” said Evan Goldberg, founder and executive vice president, Oracle NetSuite. “With NetSuite, healthcare organizations can take advantage of an integrated cloud system to help automate and streamline business processes, make more informed decisions, and reduce costs, all while addressing HIPAA compliance. As a result, these organizations can do more with less and enable frontline workers to focus on what matters most—delivering high-quality care to their patients.”
NetSuite SuiteSuccess Healthcare Edition is an industry-specific pre-configured solution with pre-defined role-based dashboards, reports, KPIs, and workflows. Building on Oracle’s significant investment in healthcare, it is designed to help healthcare organizations improve operational efficiency, gain faster time to value, bolster security, and support compliance. NetSuite SuiteSuccess Healthcare Edition includes:
- Financial management and reporting: Helpshealthcare organizationsautomate and streamline transactions, payables, and receivables, improve purchasing controls, and accelerate reporting. With a single, real-time view of the business, from clinic financials and patient billing to inventory, customers can improve decision-making, enhance resource allocation, and increase operational efficiency.
- Inventory management: Helps healthcare organizations gain a real-time view of inventory across all locations including medications and medical supplies.With a comprehensive view of inventory, customers can reduce costs and minimize delays byoptimizing the reorder processes and confirming the right quantity of stock is in the right location.
- Asset and lease management: Helps healthcare organizationsquickly andaccurately manage assets and leases for medical devices, ambulances, or offices. With detailed asset reporting and seamless integration with NetSuite’s accounting software, healthcare customers can control costs by efficiently creating amortization schedules, planning maintenance, and tracking depreciation.
- Compliance and security: Helps healthcare organizations control access to electronic protected health information (ePHI), with role-based access controls, password policies, and multifactor authentication. These features can help customers to protect sensitive patient information while streamlining business processes and improving overall efficiency.
- User activity auditing: Helps healthcare organizations monitor access to ePHI in NetSuite – including user activity monitoring of the customer record and associated transactions – to identify unusual activity and report on interactions with patient data. With NetSuite Compliance 360, healthcare customers can enhance patient privacy by improving customer record visibility and accelerating audits and HIPAA-related investigations.
“Our mission is to redefine the way aging adults in our community receive healthcare, so we needed an integrated business system that would help us deliver more personalized care,” said Merlan Powell, vice president of finance, Coastal Care Partners. “NetSuite provides a 360-degree view into our operations, enabling us to streamline business processes and enhance decision-making. With these expanded capabilities and support for HIPAA compliance, we can better protect patient information and ensure first-class care.”
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
