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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.
Sage Intacct recently conducted a survey of nonprofit financial professionals, spanning small to large organizations with both single and multiple entities across a wide range of industries. Below is what your peers shared with us as their biggest pain points as part of the survey, as well as how to overcome them.
Below are the top 5.
Nonprofit survey respondents said the #1 biggest pain point is that reporting is manual and time consuming, which causes the following problems:
The survey also revealed that over 20% of respondents spend >40 hours per month consolidating data into Excel, and over 45% spend at least 25 hours.