A Guide to Cloud ERP for Healthcare Rollups
After experiencing a slowdown in 2020, mergers and acquisitions (M&A) activity in healthcare is on the rise. With more services under one roof, merged entities offer an improved quality of care along with streamlined efficiencies. The process of combining corporate cultures oftentimes means bringing uniquely detailed systems together. Keys to a successful merger include good change management along with adopting the right technologies that strengthen the integration.
Healthcare organizations looking to replace basic business systems and reduce reliance on spreadsheets should consider how a unified cloud-based enterprise resource planning (ERP) platform such as Oracle NetSuite might help overcome hurdles, minimize risks, and manage complexity. Identifying the right system will not only accommodate integration but will also help protect the capacity for future growth.
The number of healthcare companies looking to move from manual systems to a unified cloud ERP will increase exponentially over the next few years.
For organizations to successfully pair up, Riveron’s Matthew Paul says it requires “buy-in from the teams and the end users, all of whom should be focused on what the future is going to look like from both a process and a technology standpoint.” Experience has shown that the biggest obstacle is getting employees to develop good habits of using the system at the beginning. When care is taken to train stakeholders and oversee the transition, merged companies are given a clearer opportunity to capture the best data possible and use this data to realize enhanced business potential.
The number of healthcare companies looking to move from manual systems to a unified cloud ERP will increase exponentially over the next few years. Reimbursement models, historically low interest rates, and investors’ interest in acquisitions are all variables driving the change.
To navigate transaction and business lifecycles, healthcare organizations can partner with experienced advisors to stay ahead of the complexities that may arise across healthy and distressed business environments. Riveron and NetSuite have compiled a guide that highlights considerations for organizations seeking to tackle risks and experience an effective ERP implementation. Download the full guide below for a closer look.