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:

• Manual processes that lead to mistakes and poor data integrity
• Difficulty integrating multiple data sources
• The need for additional employees just to keep up with all the paperwork

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.