NetSuite launches healthcare solution designed to increase efficiency and improve patient care

NetSuite SuiteSuccess Healthcare Edition helps simplify business processes, expand insights and improve decision making while supporting HIPAA privacy and security requirements

AUSTIN, Texas, June 24, 2024 /PRNewswire/ — Oracle NetSuite today announced 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 advances in cloud computing and artificial intelligence (AI) to help streamline business processes, expand insights, improve decision making, optimize delivery of resources and improving patient care.

“Healthcare is one of the largest, most critical and complex industries in the world. Oracle is making a significant investment in healthcare to help simplify processes and improve 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 modernize 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 a pre-configured, industry-specific solution with predefined 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 assessment, strengthen security and support compliance. NetSuite SuiteSuccess Healthcare Edition includes:

• Financial Management and reporting: It helps healthcare organizations automate and streamline transactions, payables and receivables, improve purchasing controls and speed up reporting. With a single, real-time view of the business, from clinic financials and patient billing to inventory, clients can improve decision-making, improve resource allocation and increase operational efficiency.
• Inventory management: It helps healthcare organizations gain a real-time view of inventory across locations, including medications and medical supplies. With a comprehensive view of inventory, customers can reduce costs and minimize delays by optimizing reorder processes and confirming that the right amount of stock is in the right location.
• Property and rental management: It helps healthcare organizations quickly and accurately manage assets and leases for medical equipment, clinics or offices. With detailed asset reporting and seamless integration with NetSuite accounting software, healthcare customers can control costs by efficiently creating depreciation schedules, maintenance planning and depreciation tracking.
• Compatibility and security: It helps healthcare organizations control access to protected electronic health information (ePHI), with role-based access controls, password policies and multi-factor authentication. These features can help customers protect sensitive patient information while streamlining business processes and improving overall efficiency.
• Auditing user activity: It helps healthcare organizations monitor access to ePHI in NetSuite – including monitoring user activity of customer data and related transactions – to identify unusual activity and report on interactions with patient data. With NetSuite Compliance 360, healthcare customers can improve patient privacy by improving visibility into customer data and expediting HIPAA-related audits and investigations.

“Our mission is to redefine the way older adults in our community receive health care, so we needed an integrated business system that would help us provide more personalized care,” said. Merlan Powell, vice president of finance, Coast Care Partners. “NetSuite provides a 360-degree view into our operations, enabling us to streamline business processes and improve decision-making. With these enhanced capabilities and support for HIPAA compliance, we can better protect patient information and ensure first class care.”

Availability:
NetSuite SuiteSuccess Healthcare Edition is available now at North America.

About Oracle NetSuite
For more than 25 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides an integrated system that includes finance/Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 38,000 customers in 219 countries and dependent territories .

Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company – ushering in the new era of cloud computing.

SOURCE Oracle NetSuite