At Workday, we’ve worked hard to understand our healthcare customers’ challenges and support them in meeting their business goals. Today, Workday is honored to be named 2018 Best in KLAS in Enterprise Resource Planning (ERP) in a new ranking by KLAS Research.
The Best in KLAS recognition—which encompasses Workday Financial Management, Workday Human Capital Management (HCM), and our supply chain management solutions for healthcare—is reserved for software and services solutions that have the broadest operational and clinical impact on healthcare organizations. This recognition was made in the research and advisory firm’s “2018 Best in KLAS: Software & Service” report on top-performing healthcare IT and services companies. We’re especially honored by this recognition as it reflects feedback from our customers.
Workday was also recognized as a 2018 Category Leader in Talent Management. Talent management is a core component of Workday HCM and key to helping our customers attract, develop, and retain the best healthcare workers.
It’s an exciting, albeit challenging time for the healthcare industry. New medical innovations are revolutionizing the industry and enabling providers to deliver better care. At the same time, changing regulations, the shift to value-based reimbursement, and increasing patient expectations are pushing providers to improve efficiency and decrease costs without sacrificing the quality of care.
At Workday, we have the opportunity to work with providers who are on the forefront of these challenges and tackling them head on. We have welcomed innovative organizations like Boston Medical Center, Christiana Care Health System, and John Muir Health into the Workday community, partnering closely with these customers and others to deliver great employee experiences and improve operational performance, so customers can focus on providing the best care for their patients.
“Migrating to Workday allowed us to reframe the question from, ‘what’s the best technology to achieve our organizational priorities,’ to ‘how will our key organizational priorities be achieved leveraging the best technology?’”
—Lisa Kelly-Croswell, vice president of HR at Boston Medical Center
Here are three ways healthcare providers can navigate the changing healthcare landscape to deliver on their mission of care:
Unify Finance, HR, and Supply Chain
To transform their organization, healthcare leaders across each business unit must align their staff towards the same goals. This requires a holistic view of key operational areas, enabled by a system that can combine financials, human capital management, planning, procurement, and inventory. And when this data is available in a single system, it allows you to understand the impact of each decision across the organization.
Chris Pass, chief financial officer at John Muir Health, explains: “That ultimately led us to the decision to implement a unified system that marries finance, supply chain, and HR. When you put those functions together, it’s exponentially more beneficial and efficient for how we deliver healthcare services and for the health system. It’s important to be able to have all the information about your employees and contractors in a system where it is integrated with the financials to look at utilization—how many hours people are working and what projects are driving profitability as well as areas that need improvement.”
Provide Better Care Through Insights and Employee Engagement
We’re seeing the rise of consumerization across industries, and healthcare is no exception. Accustomed to the experiences they’re receiving in other areas of their lives, patients are expecting more value, personalized experiences, and better care from their providers.
Shifting to value-based reimbursement, healthcare organizations must figure out how to provide better quality care at lower costs. Finance leaders are charged with providing the organization with the strategic insight to make informed decisions. Rob McMurray, controller at Christiana Care Health System, shares that with the right system, “operational administrators can share transaction-level information with clinicians, doctors, and nurses. They can give them insight into things like the cost of care. That information can help potentially change care pathways for the better, provide more value to the patients we serve—greater quality at lower cost.”
Just as important is ensuring your employees are engaged so they can deliver a great patient experience. Deloitte’s “The Value of Patient Experience” report found that a highly engaged staff likely boosts patient experience, and higher patient experience ratings are associated with increased profitability. Dealing with manual processes and navigating clunky, outdated systems can take healthcare workers’ time away from patient care, and make it difficult to find and retain a modern workforce.
The Silver Lining of the Cloud
Change is inevitable, and healthcare providers need a system that can evolve with their needs. Those operating on outdated, on-premise systems that lack the agility and flexibility needed to grow with the organization. A cloud-based system enables healthcare organizations to be more strategic and focus on providing the best care. As Lisa Kelly-Croswell, vice president of HR at Boston Medical Center Corporation, explains: “Migrating to the cloud and Workday allowed us to rebalance our time and reframe the question from, ‘what’s the best technology to achieve our organizational priorities,’ to ‘how will our key organizational priorities be achieved leveraging the best technology?’”
Workday’s vision for healthcare has always been to provide a cloud system that is built for change and enables providers to quickly and easily adapt to reform-driven changes, implement and monitor new business models and service lines, scale for growth, automate to improve operational efficiencies, and cultivate the right talent to provide superior patient care.
We thank our customer community for helping us to achieve this honor and look forward to continuing to innovate on their behalf.