Oracle's new cloud solutions to help strengthen healthcare supply chains

US software company Oracle has unveiled new healthcare-focused cloud solutions, including specialised supply chain technologies, to support hospitals and clinics that were put under immense pressure by the Covid-19 pandemic.

The new offerings, which aim to drive a more connected patient experience, will help healthcare providers to improve patient care by “optimising planning, automating processes and enhancing visibility across the supply chain”, the company said on Thursday at the Oracle CloudWorld event in Las Vegas. The solutions will allow hospitals and clinics to improve the quality of patient care, plan more effectively, reduce costs and manage more responsive supply chains, Oracle said. “When healthcare organisations face supply chain disruptions, it can be a matter of life or death, and that’s why healthcare teams in particular need reliable, efficient and connected supply chain management systems,” said Rick Jewell, Oracle’s executive vice president of applications development.

New solutions are part of Oracle fusion cloud supply chain and manufacturing (SCM) system. With built-in artificial intelligence and machine learning technologies, SCM allows businesses to respond quickly to changing supply-demand and market conditions.

In the past two years, supply chains were disrupted due to the Covid-induced lockdowns and hospitals became overcrowded due to the spread of the virus.

Unpredictable supply and demand across the healthcare industry creates complex challenges, making it difficult for healthcare organisations to predict supply shortages, manage complex pricing, replenish orders quickly and maintain accurate billing.

This results in “unnecessary time and money being spent on administrative tasks, which ultimately impact healthcare organisations’ ability to deliver optimal patient care”, Oracle said.

“Connecting inventory and clinical data has the potential to revolutionise how healthcare supply chains operate … with Oracle cloud SCM, we are delivering new solutions that are purpose-built to give healthcare organisations the supply chain stability and confidence they need to improve patient outcomes,” Mr Jewell said.

The new solutions will help healthcare organisations maintain complete patient records electronically and assist patients and caregivers outside of the hospital by enabling equipment and maintenance tracking.

They will also help hospitals reduce costs, improve planning and productivity, and predict demand. Smart reordering and simplified supply planning capabilities will enable hospitals to have equipment and supplies available, even before they are needed, by automating the ordering process.

With AI-driven tools, hospitals can create personalised employee experiences, decrease costs and automate manual processes to save time, reduce burnout and allow their teams to focus more on patient care, Oracle said.

Globally, the cloud industry is booming. Spending on public cloud services is expected to increase by 20.4 per cent annually to $495 billion this year, as businesses expedite the pace of their digital transformation in the post-Covid era, US researcher Gartner said.

Total spending is about $84bn more than in 2020 and is expected to surge nearly 21.3 per cent yearly to almost $600bn next year.