Workday is looking to extend its human capital management and financial services applications to the healthcare sector and plans to launch as early as September this year.
The company said it will combine its financial management and HCM cloud services with Workday Inventory, a recently launched supply chain management tool, and tailor the combined platform specifically for the needs of healthcare providers.
“Healthcare providers are dealing with a significant amount of complexity. New regulations, industry consolidation, and a shifting patient relationship, are changing the way they manage their organizations,” said John Webb, vice president, industry strategy and alliances, Workday.
“With Workday, healthcare providers will have the people, financial, and supply chain insights they need, all in in one system built on a flexible foundation from which they can continually adapt and grow in a dynamic industry,” Webb said.
The company is working with healthcare providers on developing niche-specific capabilities, and has already announced a partnership with the Community Health Services of Georgia, a non-profit coordinating long-term care services in the State of Georgia and existing Workday customer to expand the platform’s feature set.
“Our world today is more complex than ever before. New regulations resulting from the Affordable Care Act, evolving patient dynamics, ambitious growth plans, and increased competition for talent, are creating new challenges for our organization and workforce,” said Angela Hammack, vice president, special projects, Community Health Services of Georgia.
“By partnering with Workday, we will be able to help design a system that not only meets our future needs, but one that truly addresses the challenges facing healthcare providers today. As an existing Workday customer, we’ve already benefited from the power of one system, and can only imagine the possibilities that come with collaborating on new features and applications that help support our whole ecosystem,” Hammack said.
Like many niche sectors healthcare is dominated by just a handful of IT vendors, but in recent months big cloud vendors like Box, IBM and Google have all moved to increase their visibility in the sector through partnership, acquisition, and the development of industry-tailored offerings.