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Healthcare Accounting Software & BI Blog
The healthcare industry became the largest source of jobs in the nation, according to the United States Department of Labor.
An aging population, among other factors, has driven rocketing growth and a surge of mergers and consolidations in the healthcare industry leaving many organizations struggling to keep up with the flow of data and information.
The difficulties are plenty and the consequences of errors and inefficiencies cannot be exaggerated. These healthcare accounting challenges include:
A question we hear often is, "What is the best financial management software packages on the market today to help a healthcare organization"?
This, of course, is a very complex question to answer and most advisers would correctly state you need to understand your specific business goals, requirements and of course budget. However, The Resource Group has worked with many industries over the years and had exposure to most accounting/financial packages on the market used by healthcare organizations. We find that Sage Intacct is one of the top accounting software solutions out there, if not truly THE best when it comes to the needs of the typical healthcare organization.
Below are the "top 5 reasons" we suggest Sage Intacct for your healthcare organization's financial management software.
Healthcare organizations love to slice and dice data coming from their electronic health/medical record (EHR/EMR) system, payroll software, third-party billing systems, practice management software, and their accounting software.
However, because of having these disparate systems, many do not have the ability to integrate this data into one set of reports, so they resort to the necessary evils of manual data entry, spreadsheets and email.
Fortunately, Sage Intacct offers a compelling healthcare financial management alternative. With the combination of multi-entity financial reporting, a dimensional chart of accounts and simple but visual reporting tools makes healthcare financial reporting far more simple, timely and effective – so your team can focus on making smart choices rather than being mired in manual office labor.
In our latest video presented by Brady Curtis, Director of Sales at The Resource Group, you will learn how Sage Intacct's dimensional chart of accounts allows for greater visibility for healthcare organizations and why it's like going from 2D to 3D.
Working in the healthcare industry can be a truly rewarding experience. Regardless of title, the drive to work in an industry that is centered around helping those in need requires a specific skill set that not everyone is able to provide. The same goes for technology that helps healthcare workers fulfill their duties to the best of their abilities. Not every piece of software in the healthcare technology stack can live up to the rigorous and necessary standards set forth to keep sensitive information private.
That is why Sage Intacct institutes the Three Pillars of Compliance within the could financial system.