7 Ways Accounting Software Helps Assisted Living Facilities
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7 Ways Accounting Software Helps Assisted Living Facilities

Assisted living facilities have begun to discover the necessity of ERP systems in the management of their day-to-day operations. From protecting and storing patient data to providing true business insight from having a unified solution, assisted living ERP ultimately enriches every department it touches while continuing to improve quality of care.

Let’s take a look at some of the ways adopting an ERP system will help your assisted living facility run smoother:

Patient Care

ERP systems drastically improve the overall quality of patient care. By storing all patients’ data in a single location, medical practitioners are better able to make quick and accurate decisions regarding the care practices they administer. This quick-access to up-to-date information can be the difference in making the correct life-saving steps for a patient.

Data Storage

Assisted living facilities generate a tremendous amount of data between patient records and administrative documents. Not only is it vital to store all of this information, but it is doubly important to store it all in a way that it remains up-to-date and secure. Sensitive data is secured with enterprise-level digital protections, safeguarding confidential patient information as well as the organization’s financial data.

With the right assisted living ERP system in place, all of this information is collected and managed from a centralized location, giving practitioners and administrative professionals access to the highest quality of information at all times.

Business Intelligence

A major benefit of implementing an ERP system is the insight it brings into your operation. All data and information about a facility are collected in a single location, which makes cross-referencing for the purposes of assessing operational efficiency a breeze.

With an ERP system in place, you’re able to readily determine things such as peak visitation hours compared to staff scheduling, allowing you to fine-tune your personnel deployment.

Strategic Planning

Jumping off business intelligence, management and leadership can take the valuable insights offered by their ERP system and make vital strategic decisions about the future of the organization. By focusing in on the facility’s KPIs, management can determine areas where operational systems could see improvement and then pivot strategies to bolster efficiency.

Financial Management

ERP systems help offer financial professionals key insights into the flow of money through the organization. Comparing quantitative data versus qualitative evaluations, one can then make decisions about how money is used most effectively within the organization. You’re able to assess where available monies are best used to improve efficiency and bolster patient care as well as determine where the most waste occurs.

Additionally, ERP systems allow for easy automation of matters such as patient billing, vendor payments, payroll processing, and more.

Integration

While there have been tremendous leaps forward in healthcare and assisted living technologies, many facilities still rely upon older, less efficient systems in order to function. Adding to that, older technologies are often difficult and costly to maintain. ERP systems allow you to streamline the use of older technologies by keeping closer track of those systems’ performances, schedule maintenance, and track usage. Furthermore, your ERP system can integrate these older technologies with existing technologies and even other departments, making facility processes more efficient and reducing waste.

Adoption of New Technologies

New and innovative technology solutions emerge steadily for healthcare and assisted living facilities, and ERP systems help practitioners to understand these new technologies. Adopting new technologies is made easier by ERP because of how it helps identify inefficiencies, reduce costs, and promote interdepartmental collaboration, all of which will help your organization drive toward its primary mission of providing excellent care.

Sage Intacct is specially designed for assisted living communities who need seamless accounting, clinical, and business management. By replacing outdated accounting systems with more powerful solutions like Sage Intacct, assisted living facilities can realize these and many more benefits of a robust, secure accounting platform. Contact us to learn morn about replacing your outdated accounting system.

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