Health & Medical

Our healthcare-specific accounting software considers the gap between service delivery and insurance reimbursement when tracking revenue, ensuring the accuracy lacking in other systems. Revenue can be segmented into insurance payouts, copayments, lab services, and whatever other categories are relevant to your practice. Resulting data enables you to optimize revenue streams.

Yes. Sage Intacct is designed to integrate with existing systems, including your billing platform, without causing any disruptions or delays. We always ensure a HIPAA-safe setup, so you needn’t worry about PII. Integration automation eliminates the risk of duplicate data entry and standardizes data to create accurate dashboards and consistent reporting structures.

Financial reporting provides a comprehensive view of your organization’s financial status. Dashboards can be customized to provide different views of your practice’s financial performance, like role-related data that filters out irrelevant metrics. Advanced software crunches raw data to provide actionable insights that keep you on track to nail KPIs.

Our role is supportive. Our systems analyse data that helps teams identify potential issues, like underpayments or resubmission needs, and take steps to rectify the problem. Integration tools ensure consistent data formats so cross-functional teams can use the same data to generate relevant billing reports. This consistency improves accuracy across all financial accounts.

Yes. Our financial solutions help nonprofit healthcare organisations keep on top of specific financial reporting requirements. For example, financials for different fiscal years or tracking grant revenue. Dashboards can be customized to show specific financial information, like sustainability and mission impact. Sage Intacct modules provide specific services, like Grant Billing.

One of the best ways to improve revenue recognition and billing is to match revenue to service delivery and payer rules. This improves the accuracy of statements that then reflect the actual care provided.

It’s important to allocate figures correctly, for instance, to allocate costs and income by department. This enables unit leaders to see real performance.

Automation is useful in every aspect of finance and accounting or bookkeeping. In healthcare, automating AP and AR ensures that coding is correct and the need for rework is reduced.

No one likes surprises when working with their finances, even good ones can seem suspicious. Putting a cadence around monthly reporting virtually eliminates surprises.

Document all revenue and billing activity and keep the resulting evidence in-system. Not only does this mean that your team and external auditors work from the same record, but it also goes to show compliance  and adherence to policies and rules.

This is one of our priority tasks. We like to start by setting monthly routines that reduce ad hoc work. Staff aren’t drawn to tangents but can spend their time on productive analysis and strategy.

By building approval flows that match your policies, we ensure that processes run so smoothly, exceptions have no choice but to stand out and be managed.

Logs and version histories trace all changes, so you can clearly see the impact of each change and restore previous versions if you’re not happy.

We work with you to clarify revenue policies for grants, billing, and contracts. This level of organization ensures reviews don’t stall.

One of our recommendations is to grant role-based access to data. Limiting authorization like this protects sensitive data across tools.

Your EMR, payroll, billing, and finance are connected – in theory. We provide the platform that enables you to integrate them with ERP to optimize claims and ensure adjustments are cleanly posted.

To get a clear view of payroll costs, tie payroll to departments and specialties. This enables labor cost analysis that is always ready for review.

Always keep your IDs and master data consistent. It helps to maintain matching across systems and entities.

Matching, aligning, syncing, integrating are all important, but they’re only as good as the data they’re given. That’s why you need to refresh data continuously. It’s the only way you can be confident in the accuracy and real-time value of your information.

Remember to align customer and vendor lists properly. This ensures finance and operations teams speak the same language based on the same source data.

A lot of metrics matter, but some matter more than others, that’s why we provide customizable dashboards that you can tailor to fit your healthcare practice’s needs. We typically recommend:

• Average revenue per patient. With this data you can set fair pricing structures and ensure care pathways are grounded in facts.
• Volume and usage trends. Collect data that shines a light on your staffing needs; for example, do you have enough staff to meet the demand or are you overstaffed.
• Revenue across entities. How well are all your sites performing? This data compares sites and programs on equal terms, so you have truly objective information to work with.
• Cash and claim cycle timing. This is important because it tells what resources are available for short-term planning.

You might also want to consider setting up a daily view to guide your decision making for the day.