As the process of rolling out EHRs slows, the focus has shifted to the next generation of ERP system, cloud-hosted solutions that link HR, finance and supply chain. KLAS finds in its latest report that more and more C-suite executives are learning the benefits of the cloud: improved efficiency and transparency, massive computing power, better security, all at lower operating costs.

Healthcare is fast shifting to value-based care, putting pressure on the industry leaders to find ways to optimize business further and drive cost efficiencies. Healthcare executives are now opting for ERP investments to drive process improvements while demonstrating cost efficiency.

The cloud has the ability to scale support growth without breaking IT budgets. This is the most important factor for IT leaders, who spend a decade under the constraints of financial pressures of EHR implementations.

The cloud also promises hospitals the ability to future-proof their ERP investments. With technological advancements through the advent of predictive analytics and artificial intelligence, the cloud has made it easier and more cost-effective to take advantage of the new features and advancements.

As they move to the cloud it makes it easier for relevant stakeholders to access the hospital’s ERP system, interact with other internal and external systems, such as supply chain management solutions. The cloud assists the industry to move away from siloed data and finally better the availability and accessibility of information.

The impact on the business is also visible. For example, hospitals are dynamically linking core ERP information and external supply chain data to allow stakeholders to make quicker decisions. Now analysts can identify opportunities to improve care, find areas for standardization and tie products to outcomes.

The ability to collaborate in real time, will lead to cleaner, updated and more trusted data that will help accelerate the shift to the value-based care model.