Healthcare Accounting Software Solutions

Healthcare Accounting - The Vital Stats

Healthcare organizations large and small face similar challenges as they work to grow their operations profitably, while remaining compliant with a variety of regulatory changes.  Fundamental to any healthcare organization are smoothly running financial operations and clear visibility into all aspects of your organization. We work with healthcare companies, ranging from small medical practice groups to larger combined healthcare operations to strengthen and simplify all aspects of their own financial health. Sage Intacct is an ideal healthcare accounting software solution, helping you save time, improve accuracy and grow your operation without growing your administrative staff. Here’s how we can help.

Streamlining Financials

Accounts payable can be a time and labor intensive process, further complicated if yours is a multi-location business. Manual payment processing is not only inefficient, it is error prone and can lead to costly mistakes. With Sage Intacct, you can centralize payables and eliminate the manual processes associated with payment processing and intercompany accounting.

  • Gain real-time visibility into your accounts payable liabilities, vendor aging reports and bill and check registers.
  • Build best practices through defined workflows, approvals and internal controls that align with your business.
  • Speed up the payables cycle and improve accuracy with automated workflows and processes.
  • Simplify 1099 processing with the ability to manage 1099 coding at the transaction level, and consolidate 1099 processing across entities.
  • Streamline multi-company/department/location expense allocation using predefined allocation tables.

Insight into Operations

Better decisions come when you have instant and consistent access to the latest financial and operational data. And when this type of data access is simple to obtain yet securely controlled, you can empower more of your staff with decision-making information that helps them perform their jobs even better. Sage Intacct allows you to track your financials as well as operational metrics and ratios, like available capacity and revenue per treatment. You can easily compare financial performance and ratios across your locations and departments and share best practices to improve performance at every level of the organization.

  • Keep your finger on the pulse of your operational and financial performance with intuitive financial dashboards.
  • Dig deeper into your data to identify risks, trends and opportunities.
  • Review key metrics from almost any angle – business driver, entity, product, geography, channel, and more.
  • Get fast answers and make informed, confident decisions with standard and customized financial reports.

Pivot, Adapt and Thrive

The healthcare industry seems to be in a constant state of flux. To succeed in a fluid marketplace, your organization must be able to quickly adapt to changing regulations, swiftly react to new opportunities and adjust strategies and operations in response to performance trends. Sage Intacct provides healthcare organizations with the tools you need to pivot, adapt and thrive.

  • Focus more of your resources on your mission with a rapid cloud deployment.
  • Access your business data anywhere, anytime on the device you choose.
  • Easily adapt to new business requirements with flexible configuration and deep functionality.
  • Quickly extend the solution’s power to new locations and new personnel.

Obtain and Retain Compliance

In this backdrop of intensive regulatory changes and additions, it is imperative for you to have financial and operational software that helps you obtain and retain compliance. Consider ASC 606 (Revenue from Contacts with Customers), which is poised to have a significant impact on healthcare organizations. Sage Intacct was the industry’s first ASC 606 automated solution – it will help you successfully navigate the complexities of this new legislation and ensure compliance with this and other mandates. Sage Intacct is:

  • Fully GAAP Compliant
  • The only cloud-financial accounting system preferred by the AICPA
  • Best-in-class auditing of intercompany transactions with detailed transaction logs

Robotic Process Automation in Healthcare Organizations

Healthcare providers may not be the first segment to come to mind when one thinks about Robotic Process Automation (RPA), but it has the potential to be transformational for growing, savvy organizations who are searching for more efficient and accurate back office processes that facilitate growth without additional overhead. BTerrell Group helps healthcare providers deploy RPA to build value and opportunity by automating repetitive tasks, including:

  • Data entry and migration
  • Patient scheduling
  • Billing and claims processing
  • Digitization of patient data

Is your medical practice looking for healthcare accounting software that meets your organization’s needs today and scales to support tomorrow’s opportunities? We welcome the opportunity to speak with you about how we can help