Streamline Financial Consolidations in Multi-Entity Healthcare

Posted by EQ Tech on Dec 8, 2020 12:00:00 AM

Streamline Financial Consolidations in Multi-Entity Healthcare

Financial consolidations are the glue that holds together multi-entity healthcare organizations. Combining the financial activities of each entity in one place gives decision-makers the cohesive perspective they need to assess performance and proceed wisely. Nothing is clear until the financial consolidation is complete – but it’s never been harder to reach the finish line.

Healthcare finance departments are contending with expanding facilities and service lines at the same time that fundamental accounting rules are changing. They are also facing pressure to complete the consolidation faster to expedite access to insights. As this process becomes bigger, faster, and more consequential, it puts tremendous pressure on healthcare finance departments – many of which are using manual processes or under-powered healthcare management software to handle the work.

Instead of letting financial consolidations consume even more resources at healthcare finance departments, it’s time to concede that current methods are unsustainable. When it takes weeks to integrate everything, organizations are inefficient at best, and they’re flying blind at worst. Fortunately, fixing a process that’s both critical and complicated happens immediately with the right medical practice accounting software in place.

Sage Intacct – Built for Multi-Entity Healthcare Finance

Sage Intacct has become one of the most popular solutions for the healthcare finance department for many reasons, but the way it handles financial consolidations is particularly impressive. It doesn’t merely accommodate the process. Sage Intacct optimizes how multi-entity healthcare organizations integrate information and then utilize it to their advantage:

  • Cloud Native – As a solution built for the cloud, Sage Intacct creates a seamless link between the financial engine at multiple clinics, long-term care facilities, rehabilitation providers or any other network of healthcare organizations. Each entity may be separated by distance, but they operate as one since they share the same cloud.
  • Easily Scalable – Working with a fully-integrated, cloud-based healthcare management solution makes it easy to add new entities or otherwise expand the accounting footprint. Organizations eager to grow – either organically or through M&A – have the means to quickly and smoothly scale upwards without limit.
  • Instant Integration – When every entity runs on Sage Intacct, the constituent data largely integrates itself. Work that used to take days and in many cases weeks now happens instantly and with minimal input from members of the healthcare finance department thanks to automation.
  • On-Demand Data – Since Sage Intacct consolidates data as soon as it enters the system, there isn’t a gap between when a decision-maker needs a particular piece of data and when it’s available. Insights are available on demand (and without the need for intermediaries) so that the right choice presents itself quickly and confidently.

Technology is the solution to a slow, cumbersome, and error-prone financial consolidation process. Sage Intacct stands above other medical practice accounting software because of the way it balances powerful capabilities with users-friendly features. Make the next financial consolidation the fastest, easiest, and most effective in memory. Contact Equation Technologies about upgrading your healthcare management solution to Sage Intacct.

Topics: Sage Intacct, Medical Practice Accounting Software, Accounting Software, Financial Software

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