Behavioral Health Industry Solutions & Software

Accounting for healthcare organizations can be complicated on its own. Add nonprofit requirements to the mix, and the complexity grows. Your challenges depend on the nature of your agency; for example, do you provide multiple services from one site, or do you specialize?

There are some common challenges that pretty much all nonprofit mental healthcare providers face. But, there are also some software fixes to keep operations ticking over.

• Struggles with real-time visibility, making it difficult to adjust to changes, especially rapid or urgent change.

Our preferred ERP platform, Sage Intacct, integrates data across multiple locations, enabling real-time-updates and improving visibility across your organization.

• Disparate systems may rely on manual data entries and tasks, like manual consolidations in Excel. This affects multi-entity management, especially when it comes to reporting compliance requirements.

Experienced bookkeepers, controllers, and CFOs leverage Sage Intacct’s features to eliminate manual data entry and other processes. Various compliance requirements are built into the system, so you needn’t worry about penalties related to non-compliance.

• It’s difficult for disconnected systems to share data. Instead, data is “trapped”, which results in time-consuming and cumbersome monthly closes.

Software integration opens up pathways that enable the free flow of data across the system, improving the efficiency of your accounting software.

Grant accounting is one of the most critical elements of financial management for nonprofit healthcare organizations. Our software solutions are industry-specific. They’re designed to handle grant accounting and restricted funds for your organization.

For instance, ERP platforms support diverse software integrations that can track the funds assigned for specific purposes (like a specific project). This is important if there are donor restrictions. Tracking resources is also essential to meet grant requirements.

Flexible ERP platforms are the solution. Software, like Sage Intacct, provides optimized tracking and analytics features tailored to your unique needs.

Yes, it is. Sharing personal information is integral to the treatment of mental health. It’s of paramount importance to protect this sensitive information. Your system all but guarantees the protection of private health information.

This is because we use Sage Intacct, which comes with an Advanced Audit Trail and security safeguards that are certified as HIPAA and HITECH compliant by Avertium.

Our expert financial consultants help you establish protection protocols that monitor access to Protected Health Information (PHI) and ensure that only authorized personnel can access the data. This is necessary to meet the strict regulatory requirements governing the healthcare industry.

What’s more, we can bump up bank-level security by entering into Business Associate Agreements with eligible healthcare clients.

Yes, you absolutely can. Integration is part and parcel of our cloud-based software solutions. We develop a structure that supports open API architecture. This enables you to integrate your financial system with clinical billing and Electronic Health Records (EHR) systems.

This type of integration provides many benefits to nonprofit mental healthcare agencies.

• Connectivity eliminates manual data entry, which naturally reduces (human) errors.
• Connecting clinical and financial data provides a holistic view of your organization’s financial performance.
• Combining data facilitates deep analysis of key metrics. The results enable you to make more strategic, data-driven decisions.

Integration with third-party software, like EHR, facilitates data flow so you can generate reports that improve visibility into the relationship between EHR and your tailored financial system.

Which metrics make the most sense for mental health organizations? There are several, actually, but here are three of the most important that all organizations should measure.

• Revenue per clinician: This is an analysis of a care provider’s performance.
• Number of patients served: This looks into volume trends, for example, do more people come for treatment in the lead up to the December holiday season?
• Number of office visits: This is where metrics get math-y with statistical data.

These and other outcomes-based metrics provide a great overview of your organization. Specialist bookkeepers, controllers, and CFOs help you delve into specifics, for example, performance by reporting unit, service, or location.

Ultimately, advanced software solutions, like Sage Intacct, enable you to use the results to make more insightful decisions to improve financial and patient health.