Workday for Healthcare: Features, Benefits & Costs

Workday for Healthcare

Workday is a cloud-native (SaaS) ERP solution from Workday that provides healthcare companies with the tools they need to streamline operations, improve efficiency, and drive growth. With capabilities spanning Financial Management, Human Capital Management, Payroll, Workforce Planning, and more, Workday addresses the unique challenges facing today's healthcare organizations.

Healthcare companies face increasing pressure around patient data privacy and HIPAA compliance, complex billing and revenue cycle management, rising operational costs. Workday provides purpose-built functionality to help organizations overcome these challenges while maintaining compliance with standards such as HIPAA, HITECH, CMS requirements.

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Key Features and Modules for Healthcare

Workday offers a comprehensive set of features tailored for healthcare operations:

1. Financial management: Workday provides robust financial management capabilities that help healthcare organizations manage their financial management processes more effectively, with real-time visibility and automation to reduce manual effort.

2. Revenue cycle management: Workday provides robust revenue cycle management capabilities that help healthcare organizations manage their revenue cycle management processes more effectively, with real-time visibility and automation to reduce manual effort.

3. Supply chain: Workday provides robust supply chain capabilities that help healthcare organizations manage their supply chain processes more effectively, with real-time visibility and automation to reduce manual effort.

4. HR and workforce management: Workday provides robust hr and workforce management capabilities that help healthcare organizations manage their hr and workforce management processes more effectively, with real-time visibility and automation to reduce manual effort.

5. Analytics and reporting: Workday provides robust analytics and reporting capabilities that help healthcare organizations manage their analytics and reporting processes more effectively, with real-time visibility and automation to reduce manual effort.

Beyond these core modules, Workday offers unified platform for finance and HR, machine learning and AI-powered analytics, and continuous updates with zero downtime to provide a complete solution for healthcare businesses.

Benefits for Healthcare Companies

Implementing Workday can deliver significant benefits for healthcare organizations:

1. HIPAA-compliant data management and security: Workday's integrated platform ensures that healthcare companies can achieve hipaa-compliant data management and security, reducing inefficiencies and improving overall performance.

2. Streamlined revenue cycle and billing processes: Workday's integrated platform ensures that healthcare companies can achieve streamlined revenue cycle and billing processes, reducing inefficiencies and improving overall performance.

3. Optimized supply chain for medical equipment and supplies: Workday's integrated platform ensures that healthcare companies can achieve optimized supply chain for medical equipment and supplies, reducing inefficiencies and improving overall performance.

4. Comprehensive workforce planning and scheduling: Workday's integrated platform ensures that healthcare companies can achieve comprehensive workforce planning and scheduling, reducing inefficiencies and improving overall performance.

5. Real-time operational analytics and KPI dashboards: Workday's integrated platform ensures that healthcare companies can achieve real-time operational analytics and kpi dashboards, reducing inefficiencies and improving overall performance.

Ready to evaluate Workday for your healthcare business? Get a personalized pricing estimate based on your specific requirements, or connect with a certified implementation partner who specializes in healthcare.

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Implementation Considerations

When implementing Workday for a healthcare organization, there are several important factors to consider:

• Timeline: A typical Workday implementation for healthcare companies takes 3–12 months, depending on the scope of modules deployed and degree of customization required.

• Data migration: Healthcare organizations often have complex data structures spanning financial management, revenue cycle management, supply chain that must be carefully mapped and migrated to Workday.

• Regulatory compliance: With healthcare regulations including HIPAA and HITECH, the implementation must ensure all compliance requirements are configured from day one.

• Change management: Training and change management are critical for adoption. Workday's modern interface and guided workflows can help ease the transition for end users.

• Integration requirements: Most healthcare companies need Workday to integrate with existing systems. Workday supports this through open APIs and pre-built connectors, though integration complexity should be scoped early.

Pricing and Cost Considerations

Workday pricing for healthcare companies requires custom quote, enterprise-level pricing. The total cost of ownership depends on:

• User count and licensing: $100–$300+/user/month for Financial Management
• Modules selected: Healthcare-specific modules such as financial management, revenue cycle management, supply chain may require additional licensing
• Implementation services: Professional services for configuration, customization, data migration, and training
• Ongoing costs: Annual maintenance, support, and cloud hosting fees

For a detailed cost estimate tailored to your healthcare requirements, get a custom Workday pricing quote.

Why Choose Workday for Healthcare?

Workday stands out as a strong ERP solution for healthcare companies for several key reasons:

• Unified platform for finance and HR helps healthcare organizations gain a competitive edge
• Machine learning and AI-powered analytics ensures smooth end-to-end operations
• Strong workforce planning and analytics supports growth and geographic expansion
• Industry-specific functionality for financial management, revenue cycle management, supply chain addresses the unique needs of healthcare businesses
• Compliance with HIPAA and HITECH is built into the platform

Get Started with Workday for Healthcare

Ready to move forward? Here are your recommended next steps:

• Get Workday Pricing — Receive a personalized cost estimate based on your healthcare requirements
• Compare Workday — See how Workday compares to other ERP solutions for healthcare
• Define Your ERP Requirements — Use our free tool to build your healthcare ERP requirements checklist

Frequently Asked Questions

What is Workday for Healthcare?

Workday for Healthcare is a cloud-native (SaaS) ERP solution designed to help healthcare organizations manage their core business processes including financial management, revenue cycle management, supply chain, HR and workforce management. It is developed by Workday and is widely used by healthcare companies ranging from mid-size businesses to large enterprises.

How much does Workday cost for healthcare companies?

Workday pricing for healthcare organizations requires custom quote, enterprise-level pricing. Total cost depends on the number of users, modules selected (such as financial management and revenue cycle management), and implementation requirements. Get a personalized Workday quote for your healthcare organization.

How long does it take to implement Workday in a healthcare organization?

Implementation timelines for Workday in healthcare typically range from 3 to 12 months, depending on the complexity of operations, number of modules, and extent of customization required. A phased approach is often recommended to reduce risk and accelerate time to value.

Does Workday support HIPAA compliance?

Yes, Workday includes features and configurations that support compliance with HIPAA, HITECH, CMS requirements. The platform provides audit trails, reporting tools, and process controls that help healthcare organizations meet their regulatory obligations. Implementation partners can further customize compliance workflows to match specific requirements.

Can Workday integrate with other healthcare systems?

Workday offers robust integration capabilities through APIs, middleware, and pre-built connectors that enable connectivity with other healthcare systems including specialized financial management software, supply chain platforms, and third-party applications. This ensures healthcare companies can maintain a connected technology ecosystem.

What are the main benefits of Workday for healthcare companies?

The primary benefits of Workday for healthcare companies include hipaa-compliant data management and security, streamlined revenue cycle and billing processes, and optimized supply chain for medical equipment and supplies. The platform also provides unified platform for finance and HR and machine learning and AI-powered analytics to help healthcare organizations improve operational efficiency and drive growth.