Growing Healthcare Organizations Turn to Cloud Financial Management

Posted by Erica Burles on May 7, 2019 11:27:07 AM

It is important for growing healthcare organizations to achieve scale. These  organizations often find it incredibly challenging to accomplish this goal using existing on-premise antiquated software and manual processes.   Future-proof your organization with Sage Intacct medical practice accounting software to strategically prepare for new growth and to scale up quickly without adding new finance headcount.

Whether your healthcare organization is experiencing organic growth or strategic consolidations and acquisitions, the need for visibility across the organization becomes even more imperative. While it may seem like the easy answer is to add headcount, successful healthcare organizations have learned that turning to cloud financial management enabled faster and better scaling of financial operations.Medical Practice Accounting Software

Instant visibility in a single system
A single source of truth can be elusive, particularly when you’re using processes and software cobbled together out of necessity. With Intacct, healthcare companies trust the data. For them, it’s now possible to clearly see financial impact including revenue and expenses by entity. Using advanced drill-down capabilities, healthcare finance leaders or their auditors can see the transactions underlying the data for full transparency.

Multi-dimensional reporting provides actionable insights
Sage Intacct makes it easy for you to manage financials for multiple entities at any altitude you need. With its multi-dimensional general ledger, real-time dashboards for the big picture, and granular reports to track key metrics, it’s easier than ever to see opportunities to leverage or spot negative trends to re-mediate using Intacct healthcare accounting software.

And you can consolidate your multiple entities instantly. How many needless hours will you save by reducing or eliminating tedious and error-prone entity or currency consolidations?

Customizable to your specific needs
Avoid the “we can’t do that because the software won’t let us” conundrum with cloud financial management software you can modify to your unique needs. Enjoy true flexibility with Intacct so you can see your reports your way or analyze your financial data using key operational metrics that matter to you specifically (e.g. cost per patient per day, cost per location or service, etc.)

Automate Accounts Payable
Create automated workflows for payment processing, invoice/purchase order routing and approvals.

Connect to your other business systems
You can stop entering or importing information by hand from other systems you already use and trust. Sage Intacct is built to integrate easily with any applications you already have in place or plan to add in the future. Using pre-built connectors, even a non-technical person can connect Sage Intacct to ubiquitous platforms like Salesforce CRM, proprietary systems, practice management or patient billing software, HRMS and Payroll

Headroom for future growth
Processes will only become more complex as you grow. Intacct healthcare accounting is built on multi-entity architecture that will support your expansion by automating processes. Easily add users, customers, locations, and transactions with technology infrastructure that scales seamlessly, without requiring additional IT or Accounting staff.

Growing healthcare companies just like yours have shortened monthly close from one month to one week, saved literally hundreds of hours a year on manual consolidations, and typically avoided hiring 1-2 additional employees after implementing Sage Intacct.  It’s time to get ahead of your company’s growth instead of reacting to it with the only HIPAA-certified cloud accounting software, Sage Intacct.

Healthcare companies that have grown using Sage Intacct healthcare cloud financial management frequently identify the following as being integral to their success:

Contact us if you have questions about business care or need personalized support from our team of Sage Intacct technical experts.

Topics: Sage Intacct, Medical Practice Accounting Software

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