How Accounting Software Can reduce operating costs for healthcare institutions


Technology is front and center for health in 2010. Especially notable is the HITECH Act of 2009 and significant impact on financial, human resources, Medicare payments and technology requirements to support these areas. Increased federal regulations go, followed heavy burden standards and mandates, it can seem overwhelming to weigh all the issues and needs regarding technology for healthcare.

Every industry experiences a period of transformation around their IT infrastructure and Business Automation that introduces new efficiencies. Healthcare industry is now in the midst of her makeover. Significant investments and changes have already been made in medical technology and patient; However, no matter how the changes have not been duplicating the business infrastructure of many health institutions.

With so many technology requirements to be considered for electronic medical records and health there, why should fund managers in the industry healthcare scrutinize their accounting software in 2010?

There are four reasons why organizations health should evaluate and implement improved accounting software this year to establish a seamless, automated business processes that connect the front office to back office and give healthcare professionals more time and resources to devote to their task – excellent care for patients

1. Data Integration Across Systems Helps Deliver Affordable Healthcare

With integrated, technology increases efficiency but the quality of service and is not simply a way to reduce costs. A typical healthcare organization is bogged down with paper-based data collection and operates dozens of disconnected systems and a plethora patient records and billing solutions. Good accounting software is able to integrate with these systems to bring information into the back office. You also need to automate the flow of financial information across internal systems and health plans with insurance claims, including various government agencies.

High quality service must be consistent within the constantly evolving technology, and find ways to reduce the cost of quality care is also important. Accounting software integrates with other systems can significantly improve efficiency, reduce costs, and eventually release funds for better, more affordable patient care.

Providing high quality health care takes a team of doctors, nurses, specialists and doctors. Technology platform healthcare organization should incorporate the same collaborative approach so all systems, including accounting software, collaborate and automate business processes that streamline the way information is created, collected, accessed and shared.

2. improve operating efficiency

Accounting staff in many health care institutions today are overburdened with the increasing pressure from internal and external requirements. Like other areas of health care organization or practice in advance for the investment strategy, the organization now expects quicker turnaround on requests and additional financial information. Outside, many of the requirements of HIPPA, Sarbanes-Oxley and HHS-Gio present challenges that are often overlooked initially for finance team. Today, a top accounting system can help small financial staff deal better payroll / HR requests, automate expense reporting and purchase requests management, providing paperless workflow around payables management, and much more.

Many healthcare companies are only using accounting software as a tool to promote their work for remote users on financing, tax returns, and the owners, rather than a system to improve the quality of patient care, reduce costs, or increase income.

A recent study Ivans, Inc. types of administrative inefficiency and redundant paperwork account for 18% of waste health. The study also suggests many healthcare still operate with older technology infrastructure and upgrading these infrastructures and operating systems they will experience immediate benefits. [1]

Similarly streamlining medical care drives down costs while maintaining excellent patient care, increased efficiency in business software and business enables you to provide better service levels to patients with fewer resources.

accounting software today can do more with less, with high and rapid return on investment.

3. There is a need for Business Intelligence

The importance of solid business intelligence and demand for predictive analytics will grow in health care in the coming years to respond we need to increase revenue, reduce costs and comply with regulations and industry standards.

A 2009 Gartner paper predicted, “Through 2012, more than 35 percent of the top 5,000 global companies will regularly not make informed decisions about significant changes in their business and markets.” [2]

It is not just about having a lot of data. Good accounting software a link between data rather than just make the data available. Your data should provide deeper insights to help you make better business decisions. When electronic medical records become widespread, health care institutions will have the ability to do more sophisticated analysis than ever before. Accounting software should provide strong reporting features with the ability to report locations, departments, doctors and the local loop.

4. Good Data Quality and Management Ensures Compliance

It is a complex and costly for healthcare institutions to comply with regulations, standards, or corporate quality. Powerful accounting software helps healthcare facilities reduce the cost of regulatory compliance, reduces the risk of compliance failure, and protects assets. Accounting systems should provide strong financial controls and audit trails, as well as reporting required to monitor critical business processes or assets. A system with integrated business alerts also reports attempts to bypass the internal control procedures.

Why 2010 is the year for New Accounting Software

accounting and business software is at the heart of business success. Now is a good time to take a holistic approach to the application software so they integrate as seamlessly as possible and provide detail rich, sophisticated data and reporting features you need at the lowest cost.

A stable, scalable accounting platform is the right solution for your business quickly shows profitability, drastically reduces administration costs and increases operational efficiency. Most important, it allows you to invest necessary, urgent money in your patient welfare

[1] Ivans Healthcare Provider Spot Survey :. Healthcare Provider Views on Reform, technology and proposed Medicare Cuts, November 2009

[2] Gartner Business Intelligence Summit 2009, Experts Discuss Business Intelligence Challenges and opportunities January 20 to 22, 2009, The Hague, Holland


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