According to a 2018 Black Book survey, 61 percent of healthcare finance leaders believe technology optimization within their organization is the highest priority initiative through to 2020. The reasons? Evolving policies in US healthcare, increased competition, rising costs, and a shift to a value-based care payment model, which reimburses for quality of care rather than fee-for-service.

To help them adapt to these challenges, healthcare organizations are looking to enterprise resource planning (ERP) cloud to improve visibility, enhance business operations and reduce overall costs. With a value-based reimbursement model, it's important for payers and providers to understand-and demonstrate-the true costs of patient care.

UW Health understood the need to migrate towards cloud-based technology for their back-end systems to future proof their healthcare organization.

"Technology and regulations have accelerated the rate of change in the healthcare industry and our legacy business systems were struggling to keep up," said Elizabeth Bolt, Senior Vice President and Chief Operating Officer at UW Health. "To ensure we could continue to deliver the best quality services as we grow, we needed agile systems that can quickly turn data into insight. Going forward, we will manage all our HR, supply chain, and financial data on a single integrated platform."

The Black Book survey also invited respondents to rate healthcare ERP vendors for 2017 in client experience and product satisfaction. Oracle ERP Cloud was ranked the #1 solution for value-based care-highly regarded due to its mobile offerings, scalable features, data insights, and built-in security.